CTG News Release (10/22/12)
CTG announced its financial results for the third quarter of 2012. The company reported that operating margin increased 140 basis points to 5.9% in the third quarter. Health care revenue was 33% of total revenue, up from 30% in the third quarter of 2011, while solutions revenue increased 13% to 42% of total revenue, up from 39% in the third quarter of 2011. The increase in higher-margin solutions work from the continued ramp-up of new health care projects and the expansion of larger multiproject health care engagements was the primary contributor to the strength of 2012 third quarter financial results.
CTG reported net income of $3.813 million for the quarter, compared with $2.991 million reported for the same period in 2011. Revenue for the quarter was $106.418 million, compared with $101.119 million for the corresponding quarter last year. Staffing revenue was $62.2 million, or 58% of total revenue, compared with $62.0 million, or 61% of total revenue, in the 2011 third quarter.