November 10, 2008 / 12:54 PM / 9 years ago

UPDATE 1-CGI profit rises, aided by income tax benefit

* EPS from continuing ops C$0.24 vs C$0.19

* Revenue C$929.2 mln vs C$903.7 mln

* New contract signings C$982 mln

TORONTO, Nov 10 (Reuters) - CGI Group (GIBa.TO) reported a higher fourth-quarter profit on Monday due mostly to an income tax benefit.

Canada’s biggest computer consulting company said it earned C$75.2 million ($64.2 million), or 24 Canadian cents a share, from continuing operations, up from C$65 million, or 19 Canadian cents a share, for the same time last year.

The results include a non-recurring income tax benefit of C$9.5 million from the determination of prior years’ tax liabilities.

    Revenue was C$929.2 million, up 2.8 percent from C$903.7 million for the same time last year.

    Analysts, on average, were expecting 22 Canadian cents before items and revenue of C$960 million.

    The Montreal-based company said new contract signings totaled C$982 million, or 106 percent of revenue, made up primarily of new bookings in the financial services as well as the government and healthcare sectors. ($1=$1.17 Canadian) (Reporting by Scott Anderson; Editing by Steve Orlofsky)

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