CTG Named to Forbes Annual Ranking of America's 200 Best Small Companies of 2009
November 02 2009 - 10:00AM
PR Newswire (US)
BUFFALO, N.Y., Nov. 2 /PRNewswire-FirstCall/ -- CTG (NASDAQ:CTGX),
an international information technology (IT) staffing and solutions
company, announced today that it was named to the Forbes annual
ranking of America's 200 best small companies. CTG ranked #131 on
the list. The America's 200 Best Small Companies of 2009 list
appears in the November 2, 2009, issue of Forbes, America's leading
biweekly business magazine. Forbes began ranking small companies in
1996. To qualify for consideration, candidates must have annual
revenue between $5 million and $750 million, be publicly traded for
at least a year, and have a stock price no lower than $5. Rankings
are based on earnings growth, sales growth, and return on equity in
the past 12 months and over five years. Forbes also compared a
company's stock performance with that of its industry peers. "CTG
is pleased to be recognized by Forbes as one of the 200 best small
companies in America," said James R. Boldt, CTG Chairman and Chief
Executive Officer. "Our strategy of focusing on higher growth
vertical markets, particularly the major sectors of the healthcare
market -- providers, payers, and life sciences companies -- has
proven to be very successful. In 2008, CTG's four-year compound
annual growth rate for revenue was 11%, more than double the rate
of the technology services market. Our compound annual growth rate
in earnings per share from 2005 to 2008 was 52%, well above the IT
industry." Mr. Boldt concluded, "While our business has been
affected in 2009 by the global recession, our strong financial
position and cash flow, disciplined cost control, and strength in
healthcare IT positions CTG very favorably for the future. Our
significant experience in electronic medical records (EMR)
implementations is helping us to capitalize on the growing demand
for EMR support. CTG is also at the forefront of developing medical
informatics solutions with new offerings designed to improve
patient outcomes while lowering costs, enhance group healthcare
insurance underwriting, and detect medical fraud, waste, and
abuse." About CTG Backed by over 40 years' experience, CTG provides
IT solutions and services to help our clients use technology as a
competitive advantage to excel in their markets. CTG combines
in-depth understanding of our clients' businesses with a full range
of integrated offerings, best practices, and proprietary
methodologies supported by an ISO 9001-certified management system.
Our IT professionals based in an international network of offices
in North America and Europe have a proven track record of
delivering high-value, industry-specific solutions. CTG serves
companies in several industries and is a leading provider of IT and
business consulting solutions to the healthcare market. CTG posts
news and other important information on the Web at
http://www.ctg.com/. Safe Harbor Statement This document contains
certain forward-looking statements concerning the Company's current
expectations as to future growth. These statements are based upon a
review of industry reports, current business conditions in the
areas where the Company does business, the availability of
qualified professional staff, the demand for the Company's
services, and other factors that involve risk and uncertainty. As
such, actual results may differ materially in response to a change
in such factors. Such forward-looking statements should be read in
conjunction with the Company's disclosures set forth in the
Company's 2008 Form 10-K, which is incorporated by reference. The
Company assumes no obligation to update the forward-looking
information contained in this release. Today's news release is
available on the Web at http://www.ctg.com/. CTGX-G DATASOURCE: CTG
CONTACT: James R. Boldt, Chairman & Chief Executive Officer,
+1-716-887-7244 Web Site: http://www.ctg.com/
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