CGI Group Swings To Profit In Q4; Tops View - Quick Facts

(RTTNews) - Canadian IT services company CGI Group Inc.(GIB, GIB_A.TO), Thursday posted a profit for the fourth-quarter on increased revenue, compared with a loss it recorded last year. On an adjusted basis, earnings per share exceeded the Street estimates.

For the three-month period, the company reported net earnings of C$141 million, or C$0.44 per share, compared with loss of C$168 million or C$0.58 per share last year. The company said that the results included acquisition-related and integration costs and unfavorable tax adjustments.

Excluding special items, net earnings were C$213.6 million or C$0.67 per share for the quarter. On average, fifteen analysts polled by Thomson Reuters expected the company to report earnings per share of C$0.62 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues rose 52.7 percent to C$2.5 billion, from prior year's C$1.6 billion. Analysts expected the company to generate revenues of C$2.52 billion for the quarter.

Looking ahead, the company said: "Going forward, our focus remains on realizing incremental revenue and cost synergies that will drive additional earnings accretion in fiscal 2014 and beyond."