Exhibit 99.1
CIBER, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(Dollars in thousands)
(Unaudited)
The Company reports its financial results in accordance with generally accepted accounting principles (“GAAP”). However, management believes that certain non-GAAP financial measures used in managing the Company’s business may provide users of this financial information with additional meaningful comparisons between current results and prior reported results. Certain of the information set forth in this Quarterly Report on Form 10-Q constitutes non-GAAP financial measures within the meaning of Regulation G adopted by the Securities and Exchange Commission. We have presented below a reconciliation of these measures to the most directly comparable GAAP financial measure. The presentation of this additional information is not meant to be considered in isolation or as a substitute for comparable amounts determined in accordance with GAAP in the United States.
Organic Revenue Growth
Organic revenue growth is a useful measure of the Company’s performance because it excludes items that: 1) are not completely under management’s control, such as the impact of foreign currency exchange; or 2) do not reflect the underlying growth of the Company, such as acquisition and divestiture activity. The limitation of this measure is that it excludes items that have an impact on the Company’s revenue. This limitation is best addressed by using organic revenue growth in combination with the GAAP numbers.
The following table reconciles 2007 organic revenue growth for the three months ended June 30, 2007, to the most comparable GAAP measure, reported revenue growth.
| | European Operations | | CIBER Consolidated | |
| | Q2 2006 | | Q2 2007 | | %
Change | | Q2 2006 | | Q2 2007 | | %
Change | |
GAAP total revenue | | $ | 58,925 | | $ | 76,036 | | 29.0 | % | $ | 249,968 | | $ | 266,543 | | 6.6 | % |
Less: | Effect of foreign currency
Translation | | — | | (5,714 | ) | | | — | | (5,714 | ) | | |
Less: Divestiture activity | | — | | — | | | | — | | — | | | |
Less: Acquisition activity | | — | | (500 | ) | | | — | | (500 | ) | | |
Organic total revenue | | $ | 58,925 | | $ | 69,822 | | 18.5 | % | $ | 249,968 | | $ | 260,329 | | 4.1 | % |
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The following table reconciles 2007 organic revenue growth for the six months ended June 30, 2007, to the most comparable GAAP measure, reported revenue growth.
| | European Operations | | CIBER Consolidated | |
| | YTD
2006 | | YTD
2007 | | %
Change | | YTD
2006 | | YTD
2007 | | %
Change | |
GAAP total revenue | | $ | 114,312 | | $ | 147,443 | | 29.0 | % | $ | 491,711 | | $ | 525,728 | | 6.9 | % |
Less: | Effect of foreign currency
translation | | — | | (12,432 | ) | | | — | | (12,432 | ) | | |
Less: Divestiture activity | | — | | — | | | | — | | — | | | |
Less: Acquisition activity | | — | | (1,500 | ) | | | — | | (1,500 | ) | | |
Organic total revenue | | $ | 114,312 | | $ | 133,511 | | 16.8 | % | $ | 491,711 | | $ | 511,796 | | 4.1 | % |
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