SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For the month
of January 2009
Commission File Number 1-14858
CGI
Group Inc.
(Translation
of Registrant’s Name Into
English)
1130 Sherbrooke
Street West
7th
Floor
Montréal,
Québec
Canada H3A
2M8
(Address
of Principal Executive Offices)
Indicate by check
mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 20-F Form
40-F ü
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): ____
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K
if submitted solely to provide an attached annual report to security
holders.
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ____
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant's "home country"), or under the rules of the home country exchange on
which the registrant's securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate by check
mark whether the registrant by furnishing the information contained in this form
is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes No ü_
If “Yes” is
marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b): 82-___.
Enclosure: Press
Release dated January 27, 2009.
This Form 6-K
shall be deemed incorporated by reference in the Registrant’s Registration
Statement on Form S-8, Reg. Nos. 333-13350, 333-66044, 333-74932 , 333-112021
and 333-146175.
PRESS
RELEASE
Stock
Market Symbols
GIB.A
(TSX)
GIB
(NYSE)
CGI
REPORTS Q1-2009 REVENUE GROWTH OF 11.7% AND EPS GROWTH OF 18.2%
Achieves
first billion dollar quarter
Q1
2009 year-over-year highlights from continuing operations:
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·
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Revenue of
$1.0 billion, up 11.7%;
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·
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Earnings
before taxes of $105.2 million, up
6.0%;
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·
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Earnings of
$79.5 million, up 10.5%;
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·
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Net
earnings margin of 8.0%;
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·
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Diluted EPS
of 26 cents, up 18.2%;
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·
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Cash
generated from operating activities in Q1 2009 of $79.2
million;
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·
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Q1 2009
bookings of $775 million; bookings of $3.8 billion over last twelve
months
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Note: All
figures are in Canadians dollars from continuing operations. Q1 F2009 MD&A,
financial statements and accompanying notes may be found at www.cgi.com and have
been filed with both SEDAR in Canada and EDGAR in the U.S.
Montreal, Quebec, January 27,
2009 – CGI Group Inc. (TSX: GIB.A; NYSE: GIB) reported fiscal 2009 first
quarter revenue today of $1.0 billion. This represents 11.7% year-over-year
revenue growth compared with the first quarter of 2008. Foreign exchange
fluctuations positively impacted revenue by 7.4%.
Earnings before
taxes were $105.2 million or 10.5% of revenue, representing an improvement of
6.3% compared with the first quarter of 2008.
Earnings in Q1
2009 were $79.5 million or 8.0% of revenue compared with earnings of $71.9
million in the same quarter last year, which represents a 10.5% year-over-year
increase.
Diluted earnings
per share in the first quarter were 26 cents, up 18.2% compared with 22 cents in
the same period last year.
The Company
generated $79.2 million in cash from its operating activities, or 7.9% of
revenue. Over the last twelve months, CGI has generated $314.1 million or $0.99
in cash per diluted share from its operating activities.
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In
millions of Canadian dollars from continuing operations except when
noted
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Q1
F2009
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Q1
F2008
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Revenue
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1,000.4
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895.4
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Adjusted
EBIT
Margin
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114.0
11.4%
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105.5
11.8%
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Earnings
before taxes
Margin
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105.2
10.5%
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99.3
11.1%
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Earnings
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79.5
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71.9
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Margin
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8.0%
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8.0%
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Earnings
per share
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0.26
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0.22
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Weighted
average number of outstanding shares (diluted)
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310,654,514
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329,785,001
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Interest on
long-term debt
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6.7
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7.3
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Net debt to
capitalization ratio
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9.6%
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14.3%
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Days of
sales outstanding (DSO)
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52
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39
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Bookings
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775
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1,134
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During the
quarter, the Company booked $775 million in new contract wins, extensions and
renewals, bringing the total bookings over the last twelve months to $3.8
billion. At the end of December 2008, the Company’s backlog of signed orders
stood at $11.4 billion or 2.9x annual revenue.
“I am very
pleased with our strong overall performance and with our efforts in helping our
clients through these challenging times,” said Michael E. Roach, President and
Chief Executive Officer. “Our adherence to fundamentals combined with the
relevance of our business solutions are shaping opportunities for our clients
and driving incremental value for shareholders. We continue to maintain a solid
balance sheet, giving us the financial flexibility to execute our profitable
growth strategy.”
At the end of the
fiscal first quarter, the Company had $1.5 billion in available capital,
including $216.0 million in cash and an unused $1.3 billion under its line of
credit secured through 2012. The net debt to capitalization ratio was
9.6%.
Normal
Course Issuer Bid Renewal
Under the terms
of the current Normal Course Issuer Bid which was effective on February 5, 2008
the Company repurchased 18.5 million of its Class A subordinate shares for
$197.7 million. On January 27, 2009 the Company’s Board of Directors
authorized the renewal of the Normal Course Issuer Bid and the purchase of up to
10% of the public float of the Company’s Class A subordinate shares, or
approximately 27.0 million shares during the next year, subject to regulatory
approval.
First
Quarter F2009 Results Conference Call
Management will
host a conference call to discuss results at 9:30 a.m. Eastern time this
morning. Participants may access the call by dialing (866) 225-0198 or on the
Web at www.cgi.com.
Supporting slides for the call will also be available. For those unable to
participate on the live call, a podcast and copy of the slides will be archived
for download at www.cgi.com.
2
Annual
General Meeting of Shareholders
This morning at
11:00 a.m., the Company will hold its Annual General Meeting of shareholders at
the Fairmont Queen Elizabeth Hotel, Grand Salon, 900 Rene-Levesque Boulevard
West, Montreal. The meeting, being presided over by Serge Godin, Founder and
Executive Chairman, will be broadcast live via www.cgi.com. Michael
E. Roach, President and Chief Executive Officer will also address the meeting
and a question and answer session will follow with the Executive
team.
Note
to the media: A press conference will be held immediately following the Annual
General Meeting, at approximately 12 noon.
About
CGI
Founded in 1976, CGI Group Inc. is one
of the largest independent information technology and business process services
firms in the world. CGI and its affiliated companies employ approximately 25,000
professionals. CGI provides end-to-end IT and business process services to
clients worldwide from offices in Canada, the United States, Europe, Asia
Pacific as well as from centers of excellence in North America, Europe and
India. CGI's annual revenue run rate stands at $4.0 billion and at December 31,
2008, CGI's order backlog was $11.4 billion. CGI shares are listed on the TSX
(GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index
as well as the S&P/TSX Capped Information Technology and MidCap Indices.
Website: www.cgi.com.
Use
of Non-GAAP Financial Information
CGI reports its
financial results in accordance with GAAP. However, management believes that
certain non-GAAP measures provide useful information to investors regarding the
Company’s financial condition and results of operations as they provide
additional measures of its performance. Explanations as well as a reconciliation
of these non-GAAP measures with GAAP financial statements are provided in the
MD&A which is posted on CGI’s website, and filed with SEDAR and
EDGAR.
Forward-Looking
Statements
All statements in
this press release that do not directly and exclusively relate to historical
facts constitute “forward-looking statements” within the meaning of that term in
Section 27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended, and are
“forward-looking information” within the meaning of sections 138.3 and following
of the Ontario Securities Act, as amended. These statements and this information
represent CGI Group Inc.’s (“CGI”) intentions, plans, expectations and beliefs,
and are subject to risks, uncertainties and other factors, of which many are
beyond the control of the Company. These factors could cause actual results to
differ materially from such forward-looking statements or forward-looking
information. These factors include and are not restricted to the timing and size
of new contracts, acquisitions and other corporate developments; the ability to
attract and retain qualified members; market competition in the rapidly-evolving
information technology industry; general economic and business conditions,
foreign exchange and other risks identified in the Management’s Discussion and
Analysis (“MD&A”) in CGI’s Annual Report on Form 40-F filed with the U.S.
Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in
CGI’s annual and quarterly MD&A and Annual Information Form filed with the
Canadian securities authorities (filed on SEDAR at www.sedar.com), as
well as assumptions regarding the foregoing. The words
“believe,”
3
“estimate,”
“expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and
variations thereof, identify certain of such forward-looking statements or
forward-looking information, which speak only as of the date on which they are
made. In particular, statements relating to future performance are
forward-looking statements and forward-looking information. CGI disclaims any
intention or obligation to publicly update or revise any forward-looking
statements or forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable law.
Readers are cautioned not to place undue reliance on these forward-looking
statements or on this forward-looking information.
-30-
For
more information:
Lorne
Gorber
Vice-President
Global
Communications and Investor Relations
514-841-3355
4
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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CGI
Group Inc.
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(Registrant)
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Date:
January 27, 2009
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By /s/ Beniot Dubé
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Name:
Beniot Dubé
Title: Vice-President, Legal
Affiairs - Greater Montreal and
Assistant
Corporate
Secretary
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