CTG Announces Results of Annual Meeting of Shareholders

Reiterates Recent Track Record of High-Level Performance and Successful Strategic Transformation

BUFFALO, N.Y., Sept. 21, 2020 (GLOBE NEWSWIRE) -- 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.