Computer Task Group, Incorporated (CTG) Financial Statements (2024 and earlier)

Company Profile

Business Address 300 CORPORATE PARKWAY
AMHERST, NY 14226
State of Incorp. NY
Fiscal Year End December 31
Industry (SIC) 7371 - Computer Programming Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments25,14035,58432,86510,78112,43111,571
Cash and cash equivalents25,14035,58432,86510,78112,43111,170
Short-term investments      401
Receivables70,97984,25276,89288,77281,31368,920
Other undisclosed current assets3,7692,9293,3812,2952,2743,037
Total current assets:99,888122,765113,138101,84896,01883,528
Noncurrent Assets
Operating lease, right-of-use asset18,50622,13222,11621,253
Property, plant and equipment5,0615,2425,5156,3795,6566,996
Long-term investments and receivables11647    
Long-term investments11647    
Intangible assets, net (including goodwill)48,94126,95630,37225,12017,600 
Goodwill35,99819,67621,27516,68111,664 
Intangible assets, net (excluding goodwill)12,9437,2809,0978,4395,936 
Deferred income tax assets2,8864,946393 
Other noncurrent assets2,1012,2289243281,2621,302
Other undisclosed noncurrent assets4,1204,0183,7953,7783,58535,809
Total noncurrent assets:81,73165,56963,11556,85828,10344,107
TOTAL ASSETS:181,619188,334176,253158,706124,121127,635
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities33,48243,68440,75242,15033,82126,490
Employee-related liabilities22,53421,96823,53821,43417,065
Accounts payable14,25421,15018,78418,61212,3879,425
Accrued liabilities19,228     
Deferred revenue5,4804,7623,1021,704
Debt    5,904  
Deferred revenue and credits1,918
Contract with customer, liability2,875
Other liabilities7,0666,5857,5357,0967,4674,328
Other undisclosed current liabilities5,9059,9529,756   
Total current liabilities:51,93364,98361,14556,85444,16332,736
Noncurrent Liabilities
Long-term debt and lease obligation  15,61215,56420,6393,6404,435
Long-term debt, excluding current maturities    5,2903,6404,435
Liabilities, other than long-term debt23,70713,30216,70712,87612,09011,840
Deferred compensation liability, classified6,42411,43714,42012,3469,90611,647
Deferred tax liabilities, net1,632 
Deferred income tax liabilities1,4821,7922,174 
Other liabilities3,33573113530552193
Operating lease, liability12,46615,61215,56415,349
Other undisclosed noncurrent liabilities   3,3292,101  
Total noncurrent liabilities:23,70728,91435,60035,61615,73016,275
Total liabilities:75,64093,89796,74592,47059,89349,011
Equity
Equity, attributable to parent105,97994,43779,50866,23664,22878,624
Common stock270270270270270270
Treasury stock, value(103,504)(107,265)(109,114)(114,261)(120,406)(113,246)
Additional paid in capital109,868110,330109,407112,096116,427120,247
Accumulated other comprehensive loss(15,306)(16,940)(15,367)(18,542)(14,611)(13,676)
Retained earnings114,651108,04294,31286,67382,54885,029
Total equity:105,97994,43779,50866,23664,22878,624
TOTAL LIABILITIES AND EQUITY:181,619188,334176,253158,706124,121127,635

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues325,080392,285366,091394,170358,769301,210
Revenue, net301,210
Cost of revenue
(Cost of Goods and Services Sold)
(245,003)(305,835)(289,133)(319,135)(290,282)(245,127)
Gross profit:80,07786,45076,95875,03568,48756,083
Operating expenses(35,789)(40,132)(67,828)(68,123)(66,407)(52,139)
Other undisclosed operating loss(33,212)(33,576)    
Operating income:11,07612,7429,1306,9122,0803,944
Nonoperating expense
(Other Nonoperating expense)
(1,881)(1,592)(786)(934)(841)(365)
Interest and debt expense  (100)(200)(400)(200)(100)
Other undisclosed income from continuing operations before equity method investments, income taxes   2,5177111,230578
Income from continuing operations before equity method investments, income taxes:9,19511,05010,6616,2892,2694,057
Other undisclosed income from continuing operations before income taxes359687    
Income from continuing operations before income taxes:9,55411,73710,6616,2892,2694,057
Income tax expense (benefit)(2,945)1,993(3,022)(2,164)(5,086)(3,251)
Income (loss) from continuing operations:6,60913,7307,6394,125(2,817)806
Income (loss) before gain (loss) on sale of properties:13,7307,6394,125(2,817)806
Net income (loss) available to common stockholders, diluted:6,60913,7307,6394,125(2,817)806

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):6,60913,7307,6394,125(2,817)806
Other comprehensive income (loss)(342)(369)(158)(80)277(262)
Comprehensive income (loss):6,26713,3617,4814,045(2,540)544
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,976(1,204)3,333(3,851)(1,212)3,349
Comprehensive income (loss), net of tax, attributable to parent:8,24312,15710,814194(3,752)3,893

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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