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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 reported a 7.2% annual revenue growth to $392.3 million in 2021, driven by the North America IT Solutions and Services segment, which saw revenues more than double in Q4 to $45.1 million. The company improved its gross margin by 100 basis points to 22.3% and GAAP operating income increased by 54.6% in Q4. Non-GAAP diluted EPS for the quarter was $0.25, surpassing guidance. Despite disengagement from lower-margin services, CTG aims for 2022 revenue between $375 million and $395 million while focusing on higher-margin solutions.
CTG (Nasdaq: CTG) will announce its financial results for the fourth quarter and full year 2021 on February 22, 2022, before the market opens. A conference call to discuss these results, including a Q&A session, is scheduled for 11:00 a.m. ET. Investors can access the call via phone or webcast, with a replay available after the event. CTG continues to be a prominent provider of digital IT solutions across North America and Western Europe, focusing on enhancing business performance and customer experiences.
CTG (NASDAQ: CTG) has announced an expanded partnership with Micro Focus to include CTG France as part of their strategic collaboration. This will enhance CTG's application testing capabilities using Micro Focus’ Application Lifecycle Management software, benefiting over 400 clients. CTG France boasts a team of 500 testers and a network of 3,000 crowdtesters, offering comprehensive testing solutions. This partnership is poised to accelerate software delivery and improve application quality for clients, further solidifying CTG's commitment to its technology partners.
CTG (NASDAQ: CTG), a prominent provider of digital IT services, announced that President and CEO Filip Gyde and CFO John Laubacker will present at the Sidoti Virtual Micro Cap Conference on December 8 at 9:45 a.m. Eastern Time. Investors can access a live and archived webcast of the presentation on the CTG Investor Relations website. The company emphasizes its commitment to delivering digital transformation solutions to enhance project momentum and business outcomes across North America and Western Europe.
CTG (NASDAQ: CTG) reported a 12% increase in Solutions revenue year-over-year, contributing to 46% of total revenue in Q3 2021. Total revenue rose by 2.2% to $90.6 million, driven by a shift away from low-margin staffing engagements. GAAP operating profit surged by 48% to $2.7 million, with an operating margin increase to 3.0%. GAAP EPS was $0.11, with a non-GAAP EPS of $0.13. The company anticipates Q4 revenue between $110-$115 million and full-year revenue to be $390-$395 million, bolstered by a significant Epic implementation project.
CTG (NASDAQ: CTG) has commenced work on a multi-million dollar contract with a regional healthcare system for a major Epic implementation, set to go live in December 2021. This project will benefit over 10,000 users and includes comprehensive advisory, planning, and training services. CTG utilizes proprietary tools for effective project management, ensuring timely execution and resource allocation. The company is also providing 24/7 legacy application management support to prioritize its client's Epic implementation efforts. CTG emphasizes the significance of this contract as a testament to its expertise in EHR solutions.
CTG (NASDAQ: CTG), a leading digital IT services provider, will report its third quarter 2021 financial results on November 9, 2021, before market opening. A conference call will follow at 11:00 a.m. ET to discuss these results and the company's business outlook. Interested parties can join via telephone or listen to a live audio webcast on CTG's website. The financial insights will be available for replay for a limited time post-call. CTG continues to focus on digital transformation solutions, enhancing client outcomes across various regions including North America and Western Europe.
CTG (NASDAQ: CTG) has appointed James “Jay” R. Helvey III as the new Chair of its Board of Directors, succeeding Daniel J. Sullivan, who retired in accordance with the company's retirement guidelines. Helvey, a board member since 2015 and former Chair of the Audit Committee, brings a wealth of financial expertise and board experience. The board's focus remains on improving margins and profitability to enhance long-term value for shareholders. Sullivan served nearly two decades, and the transition aligns with the company's succession planning.
CTG reported a 3.4% year-over-year increase in total revenue, reaching $92.2 million for Q2 2021. Solutions revenue rose 10.3% to $41.4 million, comprising 45% of total revenue, while gross profit increased 8.8% to $20.4 million. GAAP net income remained steady at $1.8 million ($0.12 EPS), with non-GAAP net income rising 35% to $2.0 million ($0.13 EPS). Despite a 5.1% sequential revenue decline from Q1 2021 mainly due to fewer billable days, the company remains optimistic about year-over-year growth and strategic disengagement from lower-margin staffing business.
CTG (NASDAQ: CTG) will announce its second quarter 2021 financial results on July 29, 2021, prior to market opening. A conference call will take place at 11:00 a.m. ET to discuss the financial results and future business outlook. Participants can join by phone or via a live audio webcast on CTG's website. A replay will be available shortly after the call until August 2, 2021. CTG specializes in digital transformation solutions, aiding clients in achieving optimal IT and business outcomes across North America and Western Europe.
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