DD, you know, that last paragraph about these guys caught my attention as well but it was not until I saw this new thread that I decided to check them out. Here's a link to recent articles about them: biz.yahoo.com.
Check out their revenues; pretty impressive: CTG recorded third quarter 1997 revenue of $101.1 million, the highest in the Company's history, and an increase of 13.1 percent when compared to third quarter 1996 revenue of $89.4 million. CTG recorded year-to-date revenue of $296.2 million, an increase of 9.4 percent when compared to 1996 year-to-date revenue of $270.7 million.
This part is especially important: In the third quarter of 1995, CTG was awarded a two-year contract as one of IBM's nine national technical service providers for the United States. This contract expires on November 30, 1997, and the Company anticipates renewal of the contract for two additional years. IBM continues to be the Company's largest customer, accounting for $35.8 million or 35.4 percent of third quarter 1997 revenue as compared to $26.8 million or 30 percent of third quarter 1996 revenue.
Like all Y2K stocks, it took a big hit recently but seems to have leveled out. Here is the chart: quote.yahoo.com.
Maybe, just maybe, if they make a formal announcement of another huge contract with IBM (like they anticipate), the stock will surge once again. After all, because of Y2K issues, the next two years are going to be blockbuster ones for IT firms. Does Brian Keane know something we don't?
- Jeff |
