Brief: Computer Modelling qtrly earnings per share $0.05

Computer Modelling

20/05/2016 12:00

May 20 (Reuters) - Computer Modelling Group Ltd  CMG.TO  
    * Qtrly total revenue $19 million versus $20.4 million 
    * Qtrly earnings per share $0.05 
    * Q4 earnings per share view c$0.09, revenue view c$19.5 
million -- Thomson Reuters I/B/E/S 
    * Due to adverse economic conditions in venezuela,oil & gas 
industry,decided to close office in caracas effective may 2016 
    * "as we enter fiscal 2017, ongoing reductions in 
budgets,activity levels by customers affecting utilization 
levels of our software" 
    * Customers in caracas region will be supported from other 
locations, mainly office in bogota 
    * "we are taking prudent measures, such as suspending 
employee recruitment and reducing discretionary spending, to 
control our costs" 
    * Company intends to adopt ifrs 9 in its consolidated 
financial statements beginning april 1, 2018 
    * Does not expect ifrs 9 to have material impact on 
consolidated financial statements 
    * Computer modelling group announces year end results 
 
Source text for Eikon:  ID:nMKWS76yfa  
Further company coverage:  CMG.TO  
 
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