Computer Task Group soars after beating Q2 profit and revenue estimates
Computer Task Group, Inc. (Nasdaq:CTGX) is surging 20% in morning trading after the Buffalo, N.Y.-based IT solutions and staffing company said late Tuesday that its second-quarter net income rose to $2.1 million, or $0.13 per share, more than double from $1 million, or $0.06 per share, a year earlier. The results topped Wall Street analysts’ expectation of earning $0.08 per share.
Quarterly revenue jumped to $94.1 million, up 17% from $80.1 million during the same period of 2007. The revenue total beat Wall Street’s estimate of $85.5 million.
In Wednesday morning trading, CTGX is up 20%, or $0.85, to $5.10. For detailed price information and recent news stories about Computer Task Group, click CTGX.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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