Rande
Tks for bring up CVGP..I've been reading up on it
and I'm buying LT here...
If you think about..Everyone knows how the Government
can be so in efficent.....How they waist our $$$$$$$$...
It seems to me that CVGP found a gold mine....And utilities,
with energy going crazy, are going to need help also....
No wonder that the contracts are taking big leaps.....
So we have a co with a lot of big opportunities and a low
stock price......
Bought some below 7 and bought more a little while ago..
I'm not looking at this as a DT but a hold....
What will these new contracts do for future Revs????
Banchee
"Thursday August 31, 11:55 am Eastern Time
Convergent Group signs $100 million of contracts"
"About Convergent Group
Convergent Group Corporation is a provider of consulting, software engineering, systems integration and project management services that enable its
utility and local government clients to implement Internet-based business solutions, also known as eBusiness solutions. These solutions enable
Convergent Group's clients to transform their organizations into digital business environments that integrate data from various isolated sources to
create a single, Web-based point of entry through which internal decision-makers, business partners, suppliers, customers and constituents can
access business information on a real-time basis.
By combining its use of existing and emerging digital technologies with Convergent Group's expertise in the utility and local government sectors, the
firm is able to help its clients increase revenues, reduce costs, improve customer services, ensure service reliability, improve resource management
and exploit their information assets."
Thursday August 24, 8:29 am Eastern Time
Press Release
Convergent Group Reports Second Quarter Financial Results
ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug. 24, 2000--Convergent Group Corporation
(Nasdaq:CVGP - news) today reported financial results for the quarter and six-month period ended June 30,
2000.
For the second quarter of 2000, revenues increased 35 percent to $22.0 million, as compared to $16.3 million for the same period last year. Gross
profit for the second quarter rose to $8.8 million, an increase of 54 percent over the $5.7 million reported in the second quarter last year. Operating
income for the second quarter of 2000, excluding a non-cash employee stock compensation expense of $319,000, was $584,000, compared with
$1.7 million for the same period in 1999. Net loss for the second quarter of 2000 was $634,000, or $.04 per share, compared to net income of
$1.6 million, after preferred stock adjustments of $207,000, or $.07 per share, for the same period last year.
For the first six months of 2000, revenues increased 31 percent to $40.6 million, as compared to $31.1 million for the same period last year. Gross
profit for the first half of 2000 rose to $16.9 million, an increase of 54 percent over the $11.0 million reported for the first half of last year. For the
first half of 2000, operating income, excluding a non-cash employee stock compensation expense of $919,000, was $1.2 million, compared with
$3.1 million for the same period in 1999. Net loss for the first half of 2000 was $1.5 million, or $.11 per share, compared to net income of $3.0
million, after preferred stock adjustments of $414,000, or $.13 per share, for the same period in 1999.
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