CTG News Release (04/23/12)

CTG has announced its financial results for the 2012 first quarter, which ended on March 31, 2012. Net income rose to $3.36 million, or 20 cents per share, from $2.82 million, or 17 cents per share, a year ago. Revenue increased 7.8% to $103.36 million from $95.90 million in the year-over-year period.

“This quarter’s robust increases in margins and earnings primarily reflect continued growth in our health solutions business,” says CTG chairman and chief executive officer James Boldt. Client demand remains very strong in the health care division, he said—revenue increased 19% in the first quarter, while demand in lower-margin information technology staffing moderated.

Staffing revenue was consistent year-over-year, at $62.2 million, or 60% of total revenue, compared with $62.2 million, or 65% of total revenue, in the 2011 first quarter. CTG’s guidance for 2012 assumes that its staffing business will remain relatively stable in 2012.