CTG (CTG) Reports In-Line Q2 EPS
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CTG Reports 11% Net Income Growth on Lower Revenue in Second Quarter 2022 as Strong Execution of Strategy Drives Strengthened Margin Profile
August 4, 2022 6:55 AM EDTNorth America IT Solutions and Services revenue grew 21.3%, partially offsetting an intentional decline pursuant to our strategy of $6.1 million in Non-Strategic Technology Services, and a $4.9 million revenue decline from foreign currency exchange headwinds Gross margin expanded 180 basis points to 23.9%, the highest level in more than 10 years; two-year gross margin improvement was 290 basis pointsOperating margin was 3.8% and non-GAAP operating margin was 4.2%, increases of 80 and 100 basis points, respectivelyNet income increased 11.3%, and adjusted EBITDA... More
