Key Developments For Computer Task Group Inc
Computer Task Group Inc (CTGX.O) (Consolidated Issue listed on NASDAQ Global Market)
Computer Task Group, Inc. Issues Q4 2009 Outlook; Revenue Outlook Below Estimates; Revises FY 2009 Revenue Outlook To A Range Below Estimates; Revises FY 2009 EPS Outlook To A Range Above Estimates
Computer Task Group, Inc. announced that for the fourth quarter of 2009, it expects revenues to range from $67 to $69 million and net income per diluted share (EPS) of $0.09 to $0.11. For fiscal 2009, the Company now expects revenue to range from $275 to $277 million and net income per diluted share of $0.37 to $0.39. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.09 on revenue of $72 million for the fourth quarter of 2009; EPS of $0.36 on revenue of $280 million for fiscal 2009.
Computer Task Group, Inc. Announces Extension of 10b5-1 Plan to Facilitate Share Repurchases
Computer Task Group, Inc. announced that it extended a stock repurchase plan under Rule 10b5-1 of the Securities and Exchange Commission (the Company 10b5-1 Plan) to facilitate the repurchase of its common stock. The Company has approximately 650,000 shares available for repurchase as of September 30, 2009, under its outstanding repurchase authorizations. The plan is effective from October 8, 2009, until the day following the Company's release of its 2009 third quarter financial results. Repurchases are subject to SEC regulations as well as certain price, market, volume, and timing constraints specified in the plan. The plan does not require that any shares be purchased.
Computer Task Group, Inc. Issues Q3 2009 Outlook; Revenue Outlook Below Estimates; Lowers Top End Of Prior FY 2009 Revenue Outlook To A Range In Line With Estimates; Reaffirms FY 2009 EPS Outlook
Computer Task Group, Inc. announced that for the third quarter of 2009, it expects revenue to range from $66 to $68 million and net income per diluted share (EPS) of $0.07 to $0.09. For fiscal 2009, the Company currently expects revenue ranges from $275 to $285 million and net income per diluted share of $0.30 to $0.40. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.09 on revenue of $70 million for the third quarter of 2009; EPS of $0.35 on revenue of $285 million for fiscal 2009.
Computer Task Group, Inc. Added To Russell 3000 Index; Announces Extended Stock Repurchase Plan
Computer Task Group, Inc. announced that it has been added to the Russell 3000 Index, effective after the close of trading on June 26, 2009. The Company also announced that it extended a stock repurchase plan under Rule 10b5-1 of the Securities and Exchange Commission (the Company 10b5-1 Plan) to facilitate the repurchase of its common stock. The Company has approximately 0.9 million shares available for repurchase as of June 26, 2009 under its outstanding repurchase authorizations.
Computer Task Group, Inc. Issues Q2 2009 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2009 Revenue Guidance; Reaffirms FY 2009 EPS Guidance
Computer Task Group, Inc. announced that for the second quarter 2009, it expects revenue to range from $66.5-$68.5 million and net income per diluted share of $0.07 to $0.09. For fiscal 2009, the Company reduced its fiscal 2009 revenue guidance by $10 million and now expects that its revenue to range from $275-$295 million. The Company has not changed its initial fiscal 2009 earnings guidance projecting net income per diluted share of $0.30-$0.40. According to Reuters Estimates, analysts were expecting the Company to report revenue of $73.5 million and EPS of $0.08 for the second quarter 2009; revenue of $295 million and EPS of $0.33 for fiscal 2009.
