Ciber 2Q profit rises 14 percent, beats Street

By Associated Press
July 24, 2008 | Comments (0)

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Technology consulting company Ciber Inc. on Thursday said its second-quarter profit rose 14 percent, boosted by double-digit revenue growth and beat Wall Street expectations.

Net income increased to $8.9 million, or 15 cents per share, from $7.8 million, or 13 cents per share, a year ago.

Revenue grew 19 percent to $317.6 million from $266.5 million, in the year-ago period.

Analysts polled by Thomson Financial expected a more modest per-share profit of 14 cents, on sales of $295.9 million.

The company said its results were bolstered by a 53 percent revenue rise at its European division, while its U.S. Commercial and IT Outsourcing divisions saw an 11 percent increase in organic revenue growth.

The company also boosted its full-year guidance.

Ciber shares rose 16 cents, or 2.4 percent, to $6.71 in afternoon trading.

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