Ciber News Release (10/29/13)
Ciber Inc. reported revenues of $215.1 million in the third quarter of 2013, up 2% from $211.2 million during the same period last year. The company reported a net loss of $13.5 million, compared with net income of $195,000 in the third quarter of 2012. North American revenues totaled $104.9 million, down 4% year-over-year from $109.3 million.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Heidrick & Struggles International Inc. News Release (10/29/13)
Heidrick & Struggles International Inc. reported total revenue of $123.5 million in the third quarter of 2013, up 1% from $122.3 million during the same period last year. The company reported net revenue of $119 million, up 1.4% from $117.3 million in the third quarter of 2012.
Net income was $4.12 million, up 0.2% year-over-year from $4.11 million. The company’s net revenue in the Americas was $71.1 million in the third quarter of 2013, down 1.9% from $72.4 million.
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