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Computer Task Group, Incorporated (CTG), listed under the symbol CTG on Nasdaq, is a prominent provider of IT services, solutions, and staffing. For over 50 years, CTG has built a reputation for reliability and results, serving diverse industries such as healthcare, finance, government, technology, and telecom. Our offerings encompass the entire IT business solution lifecycle, including planning, developing, implementing, managing, and maintaining IT solutions.
CTG excels in helping clients assess their business needs and identify the appropriate IT solutions. Our services include the selection and implementation of packaged software, as well as the design, construction, testing, and integration of new systems. Additionally, we offer comprehensive IT staffing services—from recruiting and retaining IT talent to managing staff for both large organizations and smaller firms with specific IT needs.
Currently, CTG is actively engaged in digital transformation projects across North America, South America, Western Europe, and India. Our commitment to digital transformation has driven significant improvements in data-driven decision-making, business performance, and customer experiences.
Recent achievements for CTG include notable financial performance, with revenue of $325 million in 2022 and $306 million in trailing 12-month revenue as of June 30, 2023. We are also proud to announce a strategic acquisition by Cegeka, a leading European IT solutions provider. This merger promises to enhance our service portfolio and capabilities, aligning with Cegeka’s vision to become a global IT integrator.
CTG's second quarter 2023 financial results will be released on August 9, 2023, with a conference call and webcast to follow. Furthermore, CTG's recent performance highlights include improved gross margins and a stronger digital solutions mix, demonstrating our successful execution of our transformation strategy.
Latest News:
- On August 2, 2023, CTG announced the release of its second quarter 2023 results.
- On August 9, 2023, Cegeka agreed to acquire CTG for $10.50 per share, a deal valued at approximately $170 million.
- CTG reported its third quarter 2023 financial results on November 8, 2023, showing a robust improvement in gross margins despite challenging market conditions.
CTG (Nasdaq: CTG) will release its first quarter 2023 results on May 9, 2023, before market opening. The release will be followed by a conference call at 11:00 a.m. ET to discuss the financial and operating results, along with future strategy and outlook. A Q&A session will also take place. Interested parties can join via phone or webcast, with a replay available later. CTG is recognized for its digital transformation solutions aimed at enhancing productivity and profitability for clients in North America and Western Europe. The company has a strong presence in multiple regions including South America and India, focusing on data-driven decision-making and continuous innovation.
CTG (Nasdaq: CTG) announced that Filip Gydé, President and CEO, and John Laubacker, CFO, will present at the Sidoti Spring 2023 Virtual Investor Conference on March 23, 2023, at 9:15 a.m. ET. The conference will feature a live webcast with slides available on the Investor Relations section of CTG’s website. An archive of the presentation will also be accessible after the event. CTG specializes in digital transformation solutions, enhancing productivity and profitability for clients across North America, South America, Western Europe, and India. The company's commitment to innovation drives improved decision-making and customer experiences.
CTG reported its financial results for Q4 and full year 2022, achieving $77.9 million in revenue for Q4, a 30.7% decline year-over-year. However, digital IT solutions growth led to a gross margin increase of 590 basis points to 31.8%. Key metrics included a consolidated operating margin of 3.1%, and a net income of $1.2 million. For the full year, revenue totaled $325.1 million with a net margin of 2.0%. The acquisition of Eleviant Technologies is expected to enhance CTG's digital capabilities. The 2023 outlook projects a revenue decline of $35 million to $40 million due to strategic disengagement from low-margin business but anticipates an adjusted EBITDA margin of approximately 7% by year-end.
CTG (Nasdaq: CTG), a leader in digital IT solutions, will release its fourth quarter and full year 2022 results on February 23, 2023, before market opening. The company plans to host a conference call at 11:00 a.m. ET to discuss its financial and operational results, followed by a Q&A session. Investors can access a replay of the call or view it on CTG's website. With operations in North America, South America, Western Europe, and India, CTG focuses on driving productivity and profitability through digital transformation, enhancing decision-making, and improving business performance.
On February 1, 2023, CTG announced it has received the Amazon Web Services (AWS) Service Delivery designation for Amazon Connect, enhancing its status as an AWS Partner Network member. This designation underscores CTG's expertise in delivering cloud-based contact center solutions, as validated through a rigorous evaluation process. The company highlighted its success in client implementations, including a significant improvement in user satisfaction at Gundersen Health System. CTG aims to drive digital transformation outcomes for its clients across North America and Western Europe.
CTG announces the appointment of Herman Kalra as the new Chief People Officer, adding to its Executive Leadership team. With over 20 years of HR and talent acquisition experience, Kalra will lead the global people organization to enhance organizational design, talent acquisition, and employee engagement. President and CEO Filip Gydé emphasized the need for continuous improvement to remain competitive in attracting top talent. CTG aims to strengthen its position as a preferred employer in the digital services sector while fostering a high-performance culture.
CTG reported Q3 2022 revenue of $75 million, relatively stable year-over-year despite disengagement from lower-margin services. Gross margin expanded by 190 basis points to 24.3%, driven by improved digital solution offerings. North America and Europe segments showed revenue increases, with a combined gross margin of 29.1%. Operating margin held at 3.0%, while net income declined to $1.1 million. The acquisition of Eleviant is expected to enhance portfolio margins and contribute $10 million in annual revenue. Revenue guidance for 2022 is adjusted to $320-$330 million due to macroeconomic challenges.
CTG (Nasdaq: CTG) will release its third quarter 2022 results on November 8, 2022, prior to market opening. The company will host a conference call at 11:00 a.m. ET to discuss its financial and operational performance, along with its strategic outlook for the future. This session will include a Q&A segment. A telephonic replay will be available for a week following the call. CTG provides digital transformation solutions to enhance productivity and profitability across various regions, including North America and Western Europe.
CTG has announced its acquisition of Eleviant Tech, a digital transformation company specializing in AI, cloud, and blockchain solutions. This acquisition aims to enhance CTG’s digital offerings, expand its software-as-a-service (SaaS) capabilities, and increase delivery center capacity across its global network.
The deal is expected to add approximately $10 million in annualized revenue, being immediately accretive, and supports CTG’s strategy to provide comprehensive digital solutions to its clients.
CTG (Nasdaq: CTG), a leader in digital IT solutions, will participate in the Sidoti & Company Small-Cap Virtual Conference on September 22, 2022. CEO Filip Gydé and CFO John M. Laubacker are scheduled to present at 9:15 a.m. Eastern Time. Interested investors can access the live webcast and slides on the company’s Investor Relations website. An archive of the presentation will be available post-conference. CTG focuses on enhancing client productivity and business outcomes across North America, Western Europe, and India.
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