Q2 Results - Out - Comments anyone.
Wednesday April 29, 8:38 am Eastern Time
CGI Group announcement/Q2 results
CGI GROUP INC.
CONSOLIDATED BALANCE SHEET
as at March 31, 1998
(in thousands of dollars)
(unaudited)
1998 1997
CURRENT LIABILITIES
Bank indebtedness 18,061 $
Accounts payable and
accrued liabilities 76,129 $ 17,064 $
Income taxes 3,869 $ 240 $
Deferred income taxes 6,104 $ 2,408 $
Current portion of long-term debt 3,850 $ 1,306 $
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89,952 $ 39,079 $
LONG-TERM DEBT 5,984 $ 1,646 $
DEFERRED INCOME TAXES 1,147 $
SHARE OF NON-CONTROLLING INTEREST 247 $
--------- ---------
96,183 $ 41,872 $
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SHAREHOLDERS' EQUITY
Capital stock 215,556 $ 28,803 $
Contributed surplus 211 $ 211 $
Retained earnings 31,479 $ 15,166 $
--------- ---------
247,246 $ 44,180 $
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343,429 $ 86,052 $
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CGI GROUP INC.
CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL POSITION
For the six-month period ended March 31, 1998
(in thousands of dollars)
(unaudited)
1998 1997
OPERATING ACTIVITIES
Net earnings 11,043 $ 2,495 $
Items not affecting cash
Depreciation and amortization
of fixed assets 6,290 $ 666 $
Amortization of goodwill 3,091 $ 409 $
Amortization of software and
development costs 638 $ 213 $
Amortization of costs related
to outsourcing contracts 5,312 $ 1,397 $
Deferred income taxes 2,961 $ 780 $
Share in the results of
an entity subject to
significant influence 273 $
Share of non-controlling interest (253 $)
--------- ---------
29,082 $ 6,233 $
Changes in non-cash operating
working capital items 5,090 $ (12,986 $)
--------- ---------
34,172 $ (6,753 $)
--------- ---------
FINANCING ACTIVITIES
Increase in long-term debt 2,441 $ 1,000 $
Repayment of long-term debt (21,648 $) (530 $)
Issue of shares 163,932 $ 896 $
--------- ---------
144,725 $ 1,366 $
--------- ---------
INVESTING ACTIVITIES
Investment in an entity
subject to significant influence (577 $) (44 $)
Business acquisitions (126,996 $) (1,606 $)
Acquisitions of fixed assets (10,477 $) (1,745 $)
Costs related to
outsourcing contracts (9,877 $) (636 $)
Proceeds on disposal of fixed assets 15 $
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(147,927 $) (4,016 $)
--------- ---------
INCREASE (DECREASE) IN CASH 30,970 $ (9,403 $)
CASH POSITION AT BEGINNING (14,822 $) (8,658 $)
--------- ---------
CASH POSITION AT END 16,148 $ (18,061 $)
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FOR FURTHER INFORMATION PLEASE CONTACT:
CGI Group Inc. Andre Imbeau Executive Vice-President & CFO (514) 841-3200 Website address: www.cgi.ca. or CGI Group Inc. Paule Dore Executive Vice-President, Corporate Affairs (514) 841-3200 Website address: www.cgi.ca.
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