Computer Task Group (CTG) Misses Q4 EPS by 41c, Revenues Beat; Offers FY19 EPS Mid-Point Guidance Below Consensus, FY19 Revenue Outlook Above Consensus

Computer Task Group (NASDAQ: CTG) reported Q4 EPS of ($0.33), $0.41 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $93.1 million versus the consensus estimate of $91.5 million.

“We continued to execute on our ongoing initiatives to realign CTG’s business and establish a foundation to generate strong, sustainable growth,” said Bud Crumlish, CTG President and CEO. “We are very pleased to enter 2019 with significant momentum after making strategic investments for growth in the highest performing areas of our business and to drive operational excellence.”

“We also made progress expanding business with existing clients and believe there is significant upside to be realized from several of our new client initiatives. Leveraging CTG’s longstanding reputation as an industry leader in IT Staffing, our strategic approach in 2018 was to prioritize our business development efforts on higher-margin staffing opportunities. Although the quality of staffing revenue did not improve as planned, we are already beginning to see the results of these efforts in the early part of 2019. Our deep relationships with clients, strong market presence and our proven track record of delivering quality service continue to be hallmarks of our business.”

GUIDANCE:

Computer Task Group sees FY2019 EPS of $0.30-$0.40, versus the consensus of $0.39. Computer Task Group sees FY2019 revenue of $380-410 million, versus the consensus of $386 million.

For earnings history and earnings-related data on Computer Task Group (CTG) click here.

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