Canada's CGI reports 25 pct jump in profit

Wed Jan 28, 2015 10:04am EST
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Jan 28 (Reuters) - Information technology and outsourcing services provider CGI Group Inc posted a 25 percent rise in quarterly profit, helped by lower expenses and higher earnings from the United States and the UK.

The Canadian company said its backlog of signed orders rose to C$20.17 billion ($16.20 billion) at the end of December from C$19.25 billion a year earlier.

CGI also authorized a buyback program of about 19.05 million shares, or up to 10 percent of its public float, over the year starting Feb. 11.

Net income rose to C$236.3 million, or 74 Canadian cents per share, in the quarter ended Dec. 31, from C$189.8 million, or 60 Canadian cents per share, a year earlier.

Revenue fell nearly 4 percent to C$2.54 billion.

Operating expenses fell more than 7 percent to C$2.22 billion. ($1 = 1.2452 Canadian dollars) (Reporting by Alastair Sharp and Manya Venkatesh; Editing by Don Sebastian)