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Generates $251 million in cash from operations
MONTREAL – CGI Group Inc. (TSX:GIB.A) is reporting net earnings of $87.2 million, or 33 cents per diluted share, in its third quarter.
Compared with same period last year, both net earnings and share earnings were negatively impacted the cost of acquiring Logica and financing costs while last year’s results benefited from favourable tax adjustments.
The company says it generated third quarter revenue of $1.1 billion compared with $1 billion in the year ago period, thanks to strong year-over-year growth in the Company’s U.S. operations.
Analysts expect earnings of 42 cents per share, according to a poll by Thomson Reuters. Revenue was estimated to be about $1.09 billion.
Founded in 1976, CGI Group is one of the largest independent IT and business process services firms in the world with about C$4.1 billion in annual revenues.
It has some 31,000 employees in Canada, the United States, Europe and Asia Pacific.
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