Market Overview

CGI Reports Strong Organic Revenue Growth in Q3 and Books $1.5 Billion in New Contracts

(TSX:GIB.A)(NYSE: GIB)

Q3-F2012 highlights

-- Bookings of $1.5 billion or a book-to-bill of 139% of revenue; -- Backlog of $13.6 billion; -- Revenue of $1.1 billion; -- Adjusted EBIT of $136.3 million; -- Adjusted EBIT margin of 12.8%; -- Net earnings of $87.2 million; -- Net earnings margin of 8.2%; -- Diluted EPS of 33 cents; -- Cash provided by operating activities of $251.0 million or 94 cents per diluted share; -- Investment of $9.4 million in share buyback; -- Reduced debt by $152.5 million; -- Return on equity of 15.4%; return on invested capital 11.8%; -- Bookings over the last twelve months of $5.1 billion, or 123% of revenue.

Note: All figures are in Canadian dollars. Q3-F2012 MD&A, financial statements and accompanying notes can be found at www.cgi.com/investors and have been filed with both SEDAR in Canada and EDGAR in the U.S. All non-GAAP measures are outlined on page 3. The Company reports its results under International Financial Reporting Standards (IFRS).

CGI Group Inc. (TSX:GIB.A)(NYSE: GIB) reported fiscal 2012 third quarter revenue of $1.1 billion compared with $1.0 billion in the year ago period, representing an increase of $52.0 million or 5.1%, driven primarily by strong year-over-year growth in the Company's US operations.

Adjusted EBIT was $136.3 million, representing a margin of 12.8%, compared with $139.2 million and 13.7% in the same period last year.

Net earnings were $87.2 million or 8.2% of revenue and diluted earnings per share were 33 cents in Q3-F2012. Compared with same period last year, both net earnings and EPS were negatively impacted by the costs related to the acquisition of Logica plc, additional financing costs and the execution of a real estate optimization initiative, while last year's results benefited from favourable tax adjustments.

The Company generated $251.0 million in cash from operating activities during the quarter, or 23.6% of revenue including the positive impact of changes in working capital. Over the last twelve months CGI has generated $690.5 million or $2.57 in cash per diluted share.

Posted-In: Earnings News Guidance Contracts

 

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