CTG (CTG) Reports In-Line Q1 EPS

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Go back to CTG (CTG) Reports In-Line Q1 EPS

CTG Earnings per Share Increased 50% in First Quarter 2022 Despite Planned Lower Revenue as Digital Transformation Drives Improved Earnings Power

May 10, 2022 6:55 AM EDT

North America IT Solutions and Services grew 10.7%, helping to offset $6.2 million revenue decline from intentional reduction in Non-Strategic Technology Services and $3.1 million impact from foreign currency exchange headwindsGross margin expanded 160 basis points in the first quarter to 23.0%, driven by successful execution of strategy to improve business mix; two-year gross margin improvement of 340 basis pointsGAAP operating income for the quarter increased 52.5%; operating margin was 3.6%, an increase of 142 basis pointsFirst quarter GAAP diluted EPS of $0.15 increased $0.05, or 50% Pipeline of opportunities in digital solutions continued to expand; awarded... More