Exhibit 99.1
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CTG Announces Results of Annual Meeting of Shareholders
Reiterates Recent Track Record of High-Level Performance and
Successful Strategic Transformation
BUFFALO, N.Y., September 21, 2020 – CTG (NASDAQ: CTG), a leading provider of information technology (IT) solutions and services in North America and Western Europe, today announced that CTG shareholders approved all proposals considered at the Company’s 2020 Annual Meeting of Shareholders by a significant margin, including the re-election of James R. Helvey, III and Owen J. Sullivan to the Board, compensation of named executive officers, ratification of the Company’s independent registered public accounting firm and ratification of the Company’s 2020 Equity Award Plan.
CTG issued the following statement:
On behalf of the CTG Board of Directors and senior management team, we thank shareholders for their ongoing support, and appreciate the constructive feedback that we continue to receive. CTG is committed to taking firm action to reach our strategic goals of increasing profitability, delivering sustainable returns and maximizing value for shareholders.
To achieve these objectives, the Board and management team continue to advance the Company’s rapid transformation into a high-margin, solutions business driving increasing earnings before interest, taxes, equity-based compensation, depreciation and amortization (EBITDA) and operating margins. Even with the challenges of the COVID-19 pandemic, our IT Solutions strategy continues to make progress during this time, resulting in the highest operating margin and non-GAAP earnings per share we have reported for a first half period in the past six years.
While there is still work to do, the progress CTG has made on its transformation is yielding strong operational and financial performance. The Company has taken steps to implement prudent cost containment efforts, sustain a healthy pipeline of new business development and improve utilization and overall efficiency across the organization. As a result of these actions, CTG delivered sequential increases in revenue and non-GAAP operating profit in the second quarter, building on a track record of consistently improving performance trends over the last 18 months.
CTG has a diverse and independent Board that is actively engaged in overseeing the Company’s strategy and financial performance. As indicated by recent results, CTG has the right team and plan in place to build upon our recent success and deliver on our objectives of generating superior returns and long-term, sustainable shareholder value.
CTG held its Annual Meeting on September 17, 2020 via live webcast. The Company filed the final voting results with the Securities and Exchange Commission on a Form 8-K earlier today.
About CTG
CTG has established a reputation for responsiveness and reliability—traits that our clients say set us apart—since our founding in 1966. Today, we provide comprehensive information, technology, and business solutions that address critical challenges for clients in high-growth industries in North America and Western Europe. Backed by a proven track record of reliable delivery, CTG fosters long-term client relationships and trust, which allows us to develop strategic insights that maximize client investments in solutions and competitive advantage. CTG has operations in North America, South America, Western Europe, and India. The Company regularly posts news and other important information online at www.ctg.com.