CGI reports strong margin and EPS growth in Q3-F2010
PR Newswire -- July 27, 2010
Q3-F2010 year-over-year highlights from continuing operations:
- Revenue of $901.6 million, up 0.7% on a constant currency basis; - Bookings of $838 million; - Adjusted EBIT of $124.5 million, up 10.0%; - Adjusted EBIT margin of 13.8%, up from 11.9% - Earnings of $85.9 million, up 12.0%; - Earnings margin of 9.5%, up from 8.1%; - Diluted EPS of 30 cents, up 20%; - Cash from operating activities of $102.8 million; - Backlog of $11.4 billion.
Note: All figures are in Canadian dollars and from continuing operations. Q3 F2010 MD&A, financial statements and accompanying notes may be found at www.cgi.com/investors and have been filed with both SEDAR in Canada and EDGAR in the U.S.
Stock Market Symbols GIB.A (TSX) GIB (NYSE)
MONTREAL, July 27 /PRNewswire-FirstCall/ - CGI Group Inc. (TSX: GIB.A; NYSE: GIB) reported fiscal 2010 third quarter revenue of $901.6 million. Foreign exchange fluctuations unfavourably impacted revenue by $55.3 million, or 5.8% compared with the same period last year. Sequentially, and year-over-year, revenue was stable on a constant currency basis.
Adjusted EBIT was $124.5 million compared with $113.1 million in the same quarter last year, representing an increase of 10.0% year-over-year. This represents an adjusted EBIT margin of 13.8% up from 11.9% in the third quarter of 2009.
Net earnings were $85.9 million or 9.5% of revenue compared with $76.7 million in the same quarter last year, representing an increase of 12.0% year-over-year.
Diluted earnings per share were 30 cents, up 20.0% compared with 25 cents in the same period last year.
The Company generated $102.8 million in cash from operating activities, or 11.4% of revenue for the third quarter. On a last twelve months basis, CGI has generated $586.3 million or approximately $1.96 in cash per diluted share.
Normal Course Issuer Bid
The Company purchased 7.1 million CGI shares during the quarter for $111.8 million. Since the beginning of the fiscal year on October 1, 2009, 27,483,385 shares were purchased at an average price of $14.31 for a total investment of $393.3 million.
On January 27, 2010 the Company's Board of Directors authorized the renewal of the Normal Course Issuer Bid for the purchase of up to an additional 10% of the Company's public float of shares, or approximately 25 million shares during the next year. As at June 30, 2010 the Company has purchased 40% of its allowable amount.
PR Newswire -- July 27, 2010
Q3-F2010 year-over-year highlights from continuing operations:
- Revenue of $901.6 million, up 0.7% on a constant currency basis; - Bookings of $838 million; - Adjusted EBIT of $124.5 million, up 10.0%; - Adjusted EBIT margin of 13.8%, up from 11.9% - Earnings of $85.9 million, up 12.0%; - Earnings margin of 9.5%, up from 8.1%; - Diluted EPS of 30 cents, up 20%; - Cash from operating activities of $102.8 million; - Backlog of $11.4 billion.
Note: All figures are in Canadian dollars and from continuing operations. Q3 F2010 MD&A, financial statements and accompanying notes may be found at www.cgi.com/investors and have been filed with both SEDAR in Canada and EDGAR in the U.S.
Stock Market Symbols GIB.A (TSX) GIB (NYSE)
MONTREAL, July 27 /PRNewswire-FirstCall/ - CGI Group Inc. (TSX: GIB.A; NYSE: GIB) reported fiscal 2010 third quarter revenue of $901.6 million. Foreign exchange fluctuations unfavourably impacted revenue by $55.3 million, or 5.8% compared with the same period last year. Sequentially, and year-over-year, revenue was stable on a constant currency basis.
Adjusted EBIT was $124.5 million compared with $113.1 million in the same quarter last year, representing an increase of 10.0% year-over-year. This represents an adjusted EBIT margin of 13.8% up from 11.9% in the third quarter of 2009.
Net earnings were $85.9 million or 9.5% of revenue compared with $76.7 million in the same quarter last year, representing an increase of 12.0% year-over-year.
Diluted earnings per share were 30 cents, up 20.0% compared with 25 cents in the same period last year.
The Company generated $102.8 million in cash from operating activities, or 11.4% of revenue for the third quarter. On a last twelve months basis, CGI has generated $586.3 million or approximately $1.96 in cash per diluted share.
Normal Course Issuer Bid
The Company purchased 7.1 million CGI shares during the quarter for $111.8 million. Since the beginning of the fiscal year on October 1, 2009, 27,483,385 shares were purchased at an average price of $14.31 for a total investment of $393.3 million.
On January 27, 2010 the Company's Board of Directors authorized the renewal of the Normal Course Issuer Bid for the purchase of up to an additional 10% of the Company's public float of shares, or approximately 25 million shares during the next year. As at June 30, 2010 the Company has purchased 40% of its allowable amount.
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