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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) reported strong growth in its digital solutions amid the COVID-19 pandemic in Q3 2020. Revenue from solutions services rose 3.7% sequentially and 6.5% year-over-year, constituting 40% of total revenue. The company saw a 77% increase in its GAAP operating margin, now at 2.1%, and adjusted EBITDA reached $14.9 million. CTG is investing in digital transformation and expanding its leadership team. Additionally, the board initiated a search for a new director to replace Dan Sullivan, enhancing its governance structure.
CTG (NASDAQ: CTG), a key provider of IT solutions in North America and Western Europe, has announced its participation in two upcoming virtual investor conferences. The Benchmark Discovery One-on-One Conference is scheduled for November 18, 2020, followed by The Sidoti Virtual Microcap Conference on November 19, 2020. Portfolio managers and analysts interested in virtual meetings with CTG can contact their sales representatives for arrangements. Established in 1966, CTG is recognized for its responsive and reliable services across various high-growth industries.
On November 3, 2020, Wax Asset Management and Assurance Global Services, significant shareholders in Computer Task Group (CTG), expressed concerns to CTG’s Board regarding the company’s performance and strategy. Holding 6.4% of CTG's stock, they criticized the lack of board responsiveness and highlighted CTG's underwhelming staffing revenue and solutions' organic growth, which they attributed to currency translation and acquisitions. The letter urged a board overhaul to improve EBITDA margins and strategic capital allocation to enhance shareholder returns amidst growing market challenges and shareholder dissatisfaction.
CTG reported third-quarter 2020 financial results, achieving GAAP EPS of $0.20 and non-GAAP EPS of $0.18. Total revenue was $88.6 million, down from $97.2 million year-over-year, with Solutions contributing 39.6% of total revenue. Gross profit margin improved to 29.8%, while GAAP operating income rose to $1.8 million, reflecting strategic focus on higher-margin Solutions. The company paid down its revolving credit by 50% to $6.0 million. Despite challenges from COVID-19, CTG secured new contracts and continues to invest in Solutions for long-term growth.
CTG (NASDAQ: CTG) will release its third quarter 2020 financial results on October 20, 2020, before market opening. A conference call to discuss the financial results and business outlook will be held at 11:00 a.m. ET. Interested parties can participate by dialing 1-844-767-5679 and using access code 7028804. A live audio webcast will be available on CTG's website. A replay of the call will be accessible on the same day from 3:00 p.m. ET until October 23.
CTG (NASDAQ: CTG) announced progress in its transformation into a high-margin, solutions-centric IT provider during a challenging global business climate. The company reported a sequential increase in revenue and non-GAAP operating profit in Q2, achieving its highest first-half operating margin and non-GAAP EPS in six years. CTG aims to enhance its business model by shifting towards higher-margin services and is focused on long-term growth opportunities. The Annual Meeting of Shareholders is set for September 17, 2020, where the Board recommends voting for all nominees.
CTG (NASDAQ: CTG), a key provider of IT solutions, announced its participation in two virtual investor conferences. The LD Micro 500 Conference will feature a presentation on September 2 at 4:20 p.m. ET, accessible via a live webcast. Additionally, the 9th Annual Gateway Conference is scheduled for September 10 at 10:30 a.m. ET, also available through a live webcast. Investors can request virtual meetings with CTG's management through LD Micro or Gateway contacts.
CTG reported second-quarter 2020 results, achieving GAAP EPS of $0.12 and non-GAAP EPS of $0.10. Total revenue was $89.1 million, up from $86.9 million in Q1 but down from $100.4 million year-over-year. Solutions revenue rose to 38% of total, showing strategic transformation progress. Operating margins improved, with GAAP operating income at $1.9 million (2.1% margin). The company highlights successful contract wins and the opening of a new delivery center in Colombia. However, ongoing impacts from the COVID-19 pandemic may affect future performance, leading to no updated guidance for 2020.
CTG (NASDAQ: CTG) has opened a new delivery center in Bogotá, Colombia, aimed at enhancing its IT services capabilities. This center will bolster support for existing clients and extend global solutions offerings across the Americas and Europe. Key benefits include reliable 24/7 multilingual support, advanced service desk operations, and improved IT infrastructure management. Colombia was chosen for its favorable economic environment, time zone compatibility, and a strong tech workforce. CTG's delivery centers are designed to optimize IT solutions, ensuring cost-effectiveness and improved client satisfaction.
CTG (NASDAQ: CTG) will announce its second quarter 2020 financial results on July 21, 2020, prior to market opening. A conference call to discuss the results and business outlook will follow at 11:00 a.m. Eastern Time. Interested participants can join by dialing 1-844-767-5679, using access code 7028804. Additionally, a replay will be available after the call until July 26, 2020. CTG, known for its IT solutions and services, operates in North America, Western Europe, and India, and emphasizes long-term client relationships and reliable service delivery.
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