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February 22, 2010

Ciber Q4 revenues down to $262.3m

Expects revenues to be in the range of $252.5m to $257.5m for Q1 2010

By CBR Staff Writer

Ciber has reported revenues of $262.3m for the fourth quarter of 2009, a decrease compared to $279.6m for the same period last year.

The company has posted an operating income of $6.2m for the fourth quarter of 2009, compared to $8.4m for the same period a year ago. Net income was $2.5m, or $0.09 per share compared to net income of $5.5m, or $0.04 per share in year ago quarter.

Custom solutions segment revenue for the quarter accounted for 33% of total revenue with $84.8m, down from $107.3m in the same period a year ago. International segment accounted for 37% with $96.4m, while IT outsourcing and federal revenues remained flat accounting for 7% and 11% of total revenue, respectively. US ERP segment revenues increased marginally from $29.7m to $31.9m accounting for 12% of total revenues for the quarter.

For the full year 2009, the company has reported revenues of $1.04bn, compared to revenues of $1.2bn in 2008. Operating income was down to $27.8m from $53.9m last year. Net income decreased to $15m, or $0.22 per share from $26.9m, or $0.45 in 2008.

Mac Slingerlend, president and chief executive officer of Ciber, said: We grew most in our offshore India-based operations, which are now a scaling, credible complement to our global business model. The recovery in our US SAP practice was an exceptional highlight of 2009.

“Finally, our now separately segmented IT outsourcing division made great foundational strides and is positioned for a stronger performance in 2010 and beyond. The challenges of 2009 have become our impetus for 2010.

Ciber anticipates first quarter of 2010 revenues to be in the range of $252.5m to $257.5m and EPS to be $0.05 to 0.06. For fiscal 2010, the company expects revenue of $1.025bn to 1.045bn and EPS of $0.25 to 0.29.

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