Computer Task Group, Incorporated - CTG STOCK NEWS

CTG reported a 21.3% increase in North America IT Solutions and Services revenue, despite a $6.1 million decline in non-strategic services and $4.9 million from foreign currency effects. Gross margin improved to 23.9%, the highest in a decade. Net income rose by 11.3%, with adjusted EBITDA increasing to 5.1%. However, overall revenue fell 10.2% year-over-year, prompting a revenue outlook adjustment to $330 million to $350 million for 2022, partly due to disengagement from lower-margin business.

CTG, a leader in digital IT solutions, will release its second quarter 2022 results before market opening on August 4, 2022. The company will host a conference call at 11:00 a.m. ET to discuss financial and operational results, along with its strategy and outlook. A Q&A session will follow the presentation. The conference call can be accessed by phone or via webcast on CTG's website, with a replay available for a limited time. CTG operates in North America, South America, Western Europe, and India, focusing on driving productivity and profitability for its clients.

CTG, a leader in digital IT solutions, announced that CEO Filip Gydé and CFO John M. Laubacker will participate in the virtual East Coast IDEAS Investor Conference on June 23, 2022. Their presentation will be available from 6:00 am ET on June 22 through the conference website or CTG's investor relations page. This event highlights CTG's commitment to driving productivity and profitability for clients across North America and Western Europe. An archived presentation will be accessible for 90 days following the event.

CTG (Nasdaq: CTG) has appointed Scott Clark as Vice President of Sales for North America, effective May 2022. Clark brings over 25 years of experience in IT services and will report to Tom Niehaus, EVP of North America. His previous roles include VP of Sales at Ensono and NTT Limited, focusing on improving sales strategies and client relationships. CTG aims to strengthen its business development and accelerate growth in digital transformation solutions. This appointment aligns with CTG's goal of enhancing client success across all industries in North America.

CTG reported a strong first quarter for 2022, with revenues of $89.4 million, reflecting a 7.9% decrease year-over-year due to a $6.2 million reduction in Non-Strategic Technology Services. However, North America IT Solutions and Services grew 10.7%, mitigating losses. Gross margin improved by 160 basis points to 23.0%, and GAAP operating income soared 52.5% to $3.2 million. The GAAP diluted EPS increased by 50% to $0.15. For 2022, CTG expects revenue between $360 million and $380 million, with diluted EPS guidance of $0.64 to $0.72.

CTG (Nasdaq: CTG) announced it will release its first quarter 2022 results on May 10, 2022, before market opening. The company will host a conference call at 11:00 a.m. ET to discuss the financial and operational results, followed by a Q&A session. A telephonic replay will be available from 2:00 p.m. ET on the call day until May 17, 2022. CTG specializes in digital transformation solutions that enhance productivity and profitability in North America and Western Europe.

CTG (Nasdaq: CTG) has promoted Brett Hunt to Vice President of Solutions and Delivery for North America, aimed at enhancing their digital solutions strategy. Hunt, who joined CTG in July 2020, will focus on innovative digital technology solutions addressing customer challenges in automation and process improvement. CEO Filip Gydé emphasizes the importance of the right leadership for company scalability and strategy execution. This organizational change is seen as a step to enhance productivity and profitability for clients across North America and Western Europe.

CTG (Nasdaq: CTG), a premier provider of digital IT solutions, will participate in the Sidoti Spring 2022 Virtual Investor Conference. The presentation is scheduled for March 24, 2022, at 10:45 a.m. ET, featuring CEO Filip Gydé and CFO John Laubacker. A live webcast will be accessible on CTG's Investor Relations website, with an archive available post-event. CTG aims to drive digital transformation and enhance customer experiences while maintaining operations across multiple regions, including North America and Western Europe.

CTG (NASDAQ: CTG) successfully collaborated with VCU Health System during their Epic go-live in December 2021, providing vital support for over 16,000 end users across multiple facilities. CTG's services included legacy application support, end-user training, and on-site assistance, particularly during the transition to an electronic health record system. The comprehensive strategy addressed training logistics and real-time adjustments to support needs amid the ongoing COVID-19 pandemic, ensuring a smooth deployment. CTG continues to provide training and support for VCU Health's operations.