Ciber (CBR) Misses Q4 EPS by 3c; Sells First Ciber Momentum Subscription

Ciber (NYSE: CBR) reported Q4 EPS of $0.01, $0.03 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $199.4 million versus the consensus estimate of $202.57 million.

Ciber also announced the first subscription agreement for its flagship offering: Ciber Momentum – a proprietary platform for application modernization. The client, a global industrial manufacturer, will use Ciber Momentum Engineer™ as part of an overall transformation of legacy applications to .NET.

"Ciber Momentum will help this important customer modernize and transform their IT landscape for the future," said President and Chief Executive Officer Michael Boustridge. "This is an important proof point and further validation for Ciber as we penetrate into Software-as-a Service solutions, a business that we expect to be a significant driver for the company in the years to come."

Ciber MomentumTM helps organizations to more quickly and cost-effectively modernize their applications and transform their IT environments by rapidly harvesting and analyzing legacy source code. In addition, with Ciber Momentum™, organizations can rapidly produce modern application frameworks that meet the ever-evolving demands of today's business environment.

For earnings history and earnings-related data on Ciber (CBR) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15