Canadian Manufacturing

CGI reports Q1 profit down due to one time restructuring and integration costs

The technology and business consulting firm says it earned $290.2 million or $1.06 per diluted share for the quarter ended Dec. 3

January 30, 2020  The Canadian Press

MONTREAL — CGI Inc. says its first-quarter profit fell compared with a year ago as it was hit by one-time restructuring costs and integration expenses.

The technology and business consulting firm says it earned $290.2 million or $1.06 per diluted share for the quarter ended Dec. 31.

That compared with a profit of $311.5 million or $1.11 per diluted share in the same period a year earlier.

Revenue totalled $3.05 billion, up from $2.96 billion.

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CGI says its first-quarter results included $16.5 million in acquisition-related and integration costs and $28.2 million in restructuring expenses.

Excluding specific items, CGI says it earned $1.23 per diluted share for the quarter, up from $1.12 per diluted share a year ago.