CIBER Earnings: Here’s Why Investors Don’t Like These Results
CIBER, Inc. (NYSE:CBR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.69%.
CIBER, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 200% to $0.03 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Decreased 6.65% to $225 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CIBER, Inc. reported adjusted EPS income of $0.03 per share. By that measure, the company met the mean analyst estimate of $0.03. It beat the average revenue estimate of $223.32 million.
Quoting Management: President and Chief Executive Officer Dave Peterschmidt said, “Ciber delivered steady performance in the first quarter of 2013, continuing to build on the momentum of 2012. We won significant new clients, continued to drive profitable growth in North America, and delivered improvement in the bottom line, evidence that our strategy is working. It is notable that many of the internal challenges we faced in 2012 are successfully behind us, and while there is still work to be done, especially in our International business, we can increasingly focus on continued operating improvement in 2013.”
Key Stats (on next page)…