View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
March 1, 2009

Ciber Q4 profit dips 16%

Revenue down 4%

By CBR Staff Writer

Systems integrator Ciber has reported a 16% decline in net income to $5.97m for the fourth quarter 2008, compared to $7.14m in the year-ago quarter, on revenue down 4% at $279.55m.

Operating income fell 37% at $8.41m, while diluted EPS fell 17% to $0.10. EBITDA declined 26% to $13.8m compared to $18.6m in the same period last year.

US commercial and IT outsourcing revenue grew 2% to $91.3m, while European revenue remained flat at $96.1m. State and local government revenue fell 9% to $32.3m, and federal government revenue declined 12% to $30.7m. Enterprise solutions revenue fell 15% to $29.2m.

For fiscal 2008 the company reported a 3% increase in net income to $29.95m compared to $29.02m a year ago, on revenue up 10% at $1.13 billion.

Last month the company acquired digital imaging company Canon USA’s Technology Solutions subsidiary and India-based IT services provider Iteamic.

Mac Slingerlend, president and chief executive at Ciber, said: There were huge negative forces in financial markets and significant decreases in reported international results created by the extraordinary relative strength of the US dollar. A couple of client bankruptcies and an intra-Europe, non-cash currency translation charge resulted in decreased fourth-quarter results by $0.04/share. However, our US SAP Practice made substantial progress since our third-quarter restructure, and other divisions contributed positively.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU