IT Technology

Complete Business Solutions, Inc.

The Company

Complete Business Solutions <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CBSL)") else Response.Write("(Nasdaq: CBSL)") end if %> targets primarily mid- to large-size organizations, offering: large systems applications development and maintenence; re-engineering legacy applications to client/server technology; client/server application development; year 2000 conversion services; IT consulting services; packaged software implementation and; contract programming services. Another relatively new public IT company, Complete Business completed its IPO on March 5 with 2.5 million shares priced at $12. Insiders own approximately 69% of the company. The company is well positioned in two markets. The maintenence of of existing applications within corporations accounts for close to 50% of the operating budgets of these companies. Only 35% of these operations are outsourced, and demand will only grow for these services due to rapid technology obsolescence, the shortage of skilled IT professionals, and the increasing need for networked strategies (which increase maintenence costs).

Latest Financials

Revenue for the first quarter ended March 31, 1997 increased approximately 27% to $24.3 million from $19.1 million in the first quarter of 1996. Pro forma net income increased to $1.2 million for the quarter, or $0.15 per share, compared with pro forma net income of approximately $680,000, or $0.09 per share, for the same period in 1996. Pro forma results reflect the impact of a March 5, 1997 initial public offering and the resulting change in taxable status of the company.
(Go to next snapshot.)

© Copyright 1995-2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. The Motley Fool is a registered trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us
..

..

..

..

..

....

...

...

...

...