CIB Reports Q4 and F2021 Results
Nov 10, 2021 By MarketDepth
CGI (TSX: GIB.A) (NYSE: GIB), a Canadian Information technology firm, reported its Q4 and F2021 financial results earlier today. All figures in Canadian dollars.
Earning Rose 37%
The company reported $3.01 billion in revenues for Q4 of 2021, as net earnings rose 37.3% year over year to $345.9 million. Diluted earnings per share, as a result, grew to $1.39, compared to $0.96 a year ago. Additionally, cash provided by operating activities rose 7.1% or $34.9 million from a year prior to $526.9 million, representing 17.5% of revenue.
Net Revenue Up $251M
On a full year basis, revenues shrank 0.3% year over year to $12.13 billion while net earnings came to $1.37 billion, up 22.5% or $251.2 million from the year prior.
“CGI ended fiscal 2021 in a strong position, with accelerating revenue growth and a robust book of business and balance sheet. Looking to the year ahead, we will accelerate our investments in the talent and capabilities necessary to expand our services and global footprint in support of clients’ evolving digital transformations.”President and Chief Executive Officer, George Schindler