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CTG profit rises on health-care revenue

Wednesday, April 28, 2010

Business First of Buffalo

CTG reported a 37 percent gain in first-quarter profit as the IT company’s health-care revenue continues to improve.
The Buffalo-based company said net income for the period was $1.8 million compared to $1.3 million a year ago. Earnings per share rose to 11 cents from 9 in the 2009 first quarter.

First quarter revenue was $78.5 million, a 5 percent increase from 2009 first quarter revenue of $74.6 million year-over-year.
Officials said health-care revenue accounted for 27 percent of total revenue while electronic medical records brought in 11 percent of revenue.

CTG also said employment was up by 200, or 7 percent.
Second-quarter revenue is projected to range from $78 million to $82 million and EPS of 11 cents to 13 cents.