Correcting...Retransmission: In BW0124 release transmitted Tuesday morning, the tables were missing -- CGI Achieves Strong Performance in Fiscal 1996.MONTREAL--(BUSINESS WIRE)--Dec. 3, 1996--CGI GROUP(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ;ME GIB See NIST binary. .A) - Annual growth of 26 percent in revenues and 157 percent in net earnings - Fourth-quarter growth of 70 percent in revenues and 377 percent in net earnings CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. closed its latest fiscal year with a strong performance, the result of both internal growth and strategic developments. For the year ended September 30, 1996, the Company's operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. rose to $122,015,000, an increase of 26 percent over 1995. CGI posted net earnings of $2,718,000, up 157 percent over $1,059,000 one year earlier. Earnings per share grew by 91 percent, to $0.32 on a weighted average of 8,568,586 participating shares, compared with $0.17 on 6,379,657 shares in fiscal 1995. Cash flow nearly doubled, reaching $7.9 million or $0.92 per share. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. (earnings before depreciation, amortization, interest, share in the results of an entity subject to significant influence and income taxes) grew by 47 percent, to $8,601,000. In addition to the growth in business volume, this increase is attributable to the larger contribution of value-added and recurring-revenue contracts, combined with more efficient management of major systems integration contracts. In this regard, it should be noted that all CGI offices involved in systems integration are now ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified for the project management framework. For the three months ended September 30, 1996, CGI's revenue totalled $38.5 million, an increase of 70 percent. Net earnings amounted to $572,000 or $0.06 per share, up 377 percent over the same quarter of 1995. This strong growth reflects the impact of the developments in the previous quarter, particularly the acquisition of the outsourcing and systems integration division of IST Group and the acquisition of Optel, as well as the start-up of major contracts. Solfitech, a company set up jointly by CGI and the Caisse de depot et placement du Quebec, contributed to 1996 fourth- quarter results for one month only. "Our growth during the fourth quarter of fiscal 1996 marks the new higher level of performance we are able to achieve with our current base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army , especially since this quarter is generally less strong than the others," stated Serge Godin, Chairman of the Board and Chief Executive Officer of CGI. "With the past year's strategic alliances and acquisitions, we have gained a commercial position and a financial structure that should enable us to substanstially increase our profit " Mr. Godin specified that CGI anticipates significant internal growth during fiscal 1997 when it will benefit for the entire period from the expansion completed in fiscal 1996. Several factors will help increase its profit margins, including its network-wide ISO 9001-certified project management framework, the growing share of high-yield operations such as outsourcing and economies of scale that will result from the recent merger of its technology management network with that of IST. "We have just established a new three-year plan The Three-Year Plan of Reconstructing the Economy (Polish: Trzyletni Plan Odbudowy Gospodarki) was a centralized plan created by the Polish communist government to rebuild Poland after the devastation of the Second World War. which focuses on an accelerated yet profitable expansion of our base of operations. We will seek to optimize the various growth avenues opened up this year and remain on the lookout for in search of; looking for. See also: Lookout acquisition opportunities. est Canadian-owned public information technologyber 30 (in thousands of dollars, except earning0 ________ ________ Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. Direct costs, selling and administration expenses 111,299 88,838 Research and development 2,115 1,993 Depreciation and amortization of fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → mortization of goodwill 475 260 Interest on long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. 235 284 Other interest expenses 352 1,52 116,364 94 influence 5,651 to significant influence 3,225 1,059 Share in the results of an entity subject to significant influence, net of deferred income taxes of $260 (507) --- ________ ________ Net earnings $2,718 $1,059 ________ _______ ________ _______ Weighted average number of outstanding Class A subordinate shares, Class B shares and first preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , Series 1 and Series 2 8,568,586 6,379,657 _________ _________ Earnings per Class A subordinate share, Class B share and first preferred share, Series 1 and Series 2 $0.32 $0.17 _________ _________ _________ _________ CONTACT: The CGI Group Inc. Serge Godin, 514/841-3200 or The CGI Group Inc. Andre Imbeau, 514/841-3200 or The CGI Group Inc. Paule Dore, 514/841-3200 |
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