Ciber has reported revenues of $262.7m for the first quarter of 2010, an increase of 1.6% compared to $258.5m for the same period last year.
Gross margin for the first quarter of 2010 was $65.5m, or 24.9% of revenue, compared to 25.1% for the same period in 2009.
The company has posted an operating income of $7.2m for the first quarter of 2010, compared to $7m for the same period a year ago. Net income was $3.5m, or $0.05 per share compared to net income of $4.3m, or $0.07 per share in year ago quarter.
Custom solutions segment revenue was down 12.4% to $87.1m, from $99.4m in the same period a year ago. International segment revenue totaled $91.8m, compared to $81.8m for the first quarter of 2009, while IT outsourcing and federal revenues totaled $17.6m and $30m. US ERP segment revenues increased 23.5% from $29.3 to $36.2m.
Peter Cheesbrough, interim president and CEO of Ciber, said: Revenue growth in our U.S. ERP, International and Federal divisions contributed to the improvements in the quarter-over-comparable-quarter top-line results.
We continue to focus on reducing our total debt and have made substantial progress over the last two years. At the end of the first quarter, total debt was $94.1m, a decline of 31% from the end of the first quarter of 2009”
Ciber expects revenue for the second quarter of 2010 to be between $258m-$265m and is reaffirming its previous revenue guidance for 2010 of $1.025bn-$1.045bn. It expects second quarter 2010 GAAP EPS to be between $0.04 – $0.06 per share and is lowering its GAAP EPS guidance for 2010 to $0.22 – $0.26 cents per share.
