Brief: Ctg Reports First Quarter 2020 Results

Computer Task

21/04/2020 12:07

April 21 (Reuters) - Computer Task Group Inc  CTG.O :
    * CTG REPORTS FIRST QUARTER 2020 RESULTS
    * Q1 GAAP EARNINGS PER SHARE $0.08
    * Q1 NON-GAAP EARNINGS PER SHARE $0.10
    * Q1 REVENUE $86.9 MILLION VERSUS $97.2 MILLION
    * SAYS DECIDED TO SUSPEND ITS PRIOR FINANCIAL GUIDANCE FOR
FULL
YEAR 2020
    * SAYS COVID-19 PANDEMIC HAD RELATIVELY LIMITED IMPACT ON
BUSINESS
IN Q1
    * COMPUTER TASK GROUP - IN EARLY APRIL IMPLEMENTED SELECTIVE
FURLOUGHS ALONG WITH A TEMPORARY SALARY ADJUSTMENT FOR ALMOST
ALL NON-BILLABLE EMPLOYEES
    * COMPUTER TASK GROUP - ENHANCED LIQUIDITY BY ACCELERATING
COLLECTION OF RECEIVABLES FROM LARGEST CLIENT AND DRAWING DOWN
$12.0 MILLION ON LINE OF CREDIT

Source text for Eikon:  ID:nGNX4CQjN7 
Further company coverage:  CTG.O 

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