Get documents about "The Company Reports Its - CIBER INC - 8-8-2006
Document Sample
Exhibit 99.1
CIBER, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(Dollars in thousands)
(Unaudited)
The Company reports its financial results in accordance with generally accepted accounting principles
(“GAAP”). However, management believes that certain non-GAAP financial measures used in managing the
Company’s business may provide users of this financial information with additional meaningful comparisons
between current results and prior reported results. Certain of the information set forth in this Quarterly Report on
Form 10-Q constitutes non-GAAP financial measures within the meaning of Regulation G adopted by the
Securities and Exchange Commission. We have presented below a reconciliation of these measures to the most
directly comparable GAAP financial measure. The presentation of this additional information is not meant to be
considered in isolation or as a substitute for comparable amounts determined in accordance with GAAP in the
United States.
Organic Revenue Growth
Organic revenue growth is a useful measure of the Company’s performance because it excludes items that: 1) are
not completely under management’s control, such as the impact of foreign currency exchange; or 2) do not reflect
the underlying growth of the Company, such as acquisition and divestiture activity. It is also a component of the
Company’s compensation programs. The limitation of this measure is that it excludes items that have an impact
on the Company’s revenue. This limitation is best addressed by using organic revenue growth in combination
with the GAAP numbers.
The following tables reconcile 2006 organic revenue growth for the three months ended June 30, 2006 by
segment to the most comparable GAAP measure, reported revenue growth by segment.
Commercial Solutions
Federal Government Solutions
% %
Q2 2005 Q2 2006 Change
Q2 2005 Q2 2006
Change
GAAP total revenue
$88,604 $90,672
2.3%$41,733 $34,640
(17.0)%
Less: Divestiture activity
(5,000) —
— —
Less: Acquisition activity
— (225 )
— —
Organic total revenue
$83,604 $90,447
8.2%$41,733 $34,640
(17.0)%
State & Local Govt. Solutions
Package Solutions
% %
Q2 2005 Q2 2006 Change
Q2 2005
Q2 2006
Change
GAAP total revenue
$30,787 $36,154
17.4%$26,350 $30,335
15.1%
Less: Divestiture activity
— —
— —
Less: Acquisition activity
— —
— —
Organic total revenue
$30,787 $36,154
17.4%$26,350 $30,335
15.1%
European Operations
CIBER Consolidated
% %
Q2 2005
Q2 2006
Change
Q2 2005
Q2 2006
Change
GAAP total revenue
$54,059 $58,925
9.0%$240,955 $249,968
3.7%
Add: Effect of foreign currency translation
—
155
— 155
Less: Divestiture activity
—
—
(5,000)
—
Less: Acquisition activity
— (1,000)
— (1,225)
Organic total revenue
$54,059 $58,080
7.4 % $235,955 $248,898
5.5 %
The following tables reconcile 2006 organic revenue growth for the six months ended June 30, 2006 by segment
to the most comparable GAAP measure, reported revenue growth by segment.
Commercial Solutions
Federal Government Solutions
YTD YTD % YTD YTD %
2005 2006 Change
2005 2006 Change
GAAP total revenue
$176,995 $179,679
1.5%$83,932 $71,152
(15.2)%
Less: Divestiture activity
(12,000) —
— —
Less: Acquisition activity
— (239)
— —
Organic total revenue
$164,995 $179,440
8.8%$83,932 $71,152
(15.2)%
State & Local Govt. Solutions
Package Solutions
YTD YTD % YTD YTD %
2005 2006 Change
2005 2006 Change
GAAP total revenue
$61,957 $69,051
11.4%$51,251 $58,897
14.9%
Less: Divestiture activity
— —
— —
Less: Acquisition activity
— —
— —
Organic total revenue
$61,957 $69,051
11.4%$51,251 $58,897
14.9%
European Operations
CIBER Consolidated
YTD YTD % YTD YTD %
2005 2006
Change
2005 2006 Change
GAAP total revenue
$107,502 $114,312
6.3%$480,520 $491,711
2.3%
Add: Effect of foreign currency translation
— 4,532
— 4,532
Less: Divestiture activity
— —
(12,000)
—
Less: Acquisition activity
— (1,000 )
— (1,239 )
Organic total revenue
$107,502 $117,844
9.6 % $468,520 $495,004
5.7 %
