Computer Task Group, Incorporated (NASDAQ:CTG) came out with its third quarter earnings results on Tuesday 20th October 2020 before market open.
Key Numbers from third quarter earnings result
Quarterly income of $ 0.20 per share, from the revenue of $ 88.65 million
On adjusted basis, reported income of $ 0.18 per share
Analysts Estimated revenue of $ 84.18 million and $ 0.04 income per share
Earnings beat analysts estimates by $ 0.14 or 350.00 percent
Revenues outshined wall street view by $ 4.47 million or 5.31 percent
Earnings elevated 233.33 percent compared with the same quarter last year
Revenues decreased 8.80 percent versus third quarter of last year.
Filip Gydé, CTG President and CEO, commented, Our solid third quarter results demonstrate the continued success of our initiatives to improve operating performance and profitability, with operating and net income increasing year-over-year despite lower revenue. We are encouraged by this performance and believe our steady improvement reflects our relentless focus on advancing the rapid and ongoing evolution in our Solutions business, the decision to transition away from selective lower margin staffing engagements, and our high utilization of billable resources.
