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 November 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 November 9, 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)
www.cgi.com/newsroom
CGI
REPORTS FISCAL 2009 REVENUE GROWTH OF 3.2% WHILE INCREASING EPS BY
13.3%
Generates
$630.2 million in cash from operations
Fiscal
2009 Year-over-Year Highlights
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·
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Revenue of
$ 3.8 billion, up 3.2%;
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·
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Bookings of
$4.1 billion, or 106% of revenue;
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·
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Adjusted
EBIT of $460.7 million up $30.3 million or 7.0%;
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·
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Adjusted
EBIT margin of 12%, up from 11.6%;
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·
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Earnings
from continuing operations of $315.2 million, up 5.7%;
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·
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Earnings
margin from continuing operations of 8.2%, up from
8.0%;
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·
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Diluted EPS
of $1.02, up 12 cents or 13.3%;
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·
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Cash
provided by operating activities of $630.2 million or $2.03 per diluted
share;
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·
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Investment
of $100 million in share buyback;
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·
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Return on
invested capital of 14.0%.
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Note:
All figures are in Canadian dollars
Montreal, Quebec, November 9,
2009 – CGI Group Inc. (TSX: GIB.A; NYSE: GIB) generated revenue for
fiscal 2009 of $3.83 billion, up 3.2% compared with $3.71 billion in fiscal
2008.
Fiscal 2009
adjusted EBIT was $460.7 million, compared with $430.5 million in fiscal 2008,
representing an increase of 7.0%. This represents an adjusted EBIT margin of
12.0%.
Earnings from
continuing operations in fiscal 2009 were $315.2 million compared with $298.3
million in fiscal 2008, an increase of 5.7%. The earnings margin from continuing
operations was 8.2%, compared with 8.0% in fiscal 2008.
On a diluted
basis, earnings per share were $1.02 in fiscal 2009 compared with 90 cents in
fiscal 2008, representing an increase of 13.3%.
In fiscal 2009,
CGI generated $630.2 million in cash from operations, or 16.5% of revenue. This
is an increase of $274.6 million or 77.2% compared with $355.7 million in
2008.
During the fiscal
year the Company acquired 9.5 million shares of CGI as part of its Normal Course
Issuer Bid for $100 million, at an average price of $10.49. In addition, $130.6
million in debt payments were made, resulting in the Company having a net cash
position of $66.0 million at the end of fiscal 2009, compared with net debt of
$332.2 million at the end of fiscal 2008.
In fiscal 2009,
new contract signings totaled $4.1 billion or 106% of revenue. The
Company’s backlog at year-end, when adjusted for currency fluctuations, was
$10.9 billion or 2.8 times annual revenue.
CGI Reports Q4
and F2009 Results - November 9, 2009
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In $ 000’s
except percentages and share data
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||||||||
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All
figures are from continuing operations
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FY2009
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FY2008
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||||||
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Revenue
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3,825,161 | 3,705,863 | ||||||
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Year-over-year
growth
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3.2 | % | 2.0 | % | ||||
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Year-over-year
growth at constant currency
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(1.9 | %) | 5.3 | % | ||||
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Adjusted
EBIT
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460,741 | 430,486 | ||||||
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Adjusted
EBIT margin
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12.0 | % | 11.6 | % | ||||
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Earnings
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315,158 | 298,266 | ||||||
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Earnings
margin
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8.2 | % | 8.0 | % | ||||
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Basic
EPS
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1.03 | 0.94 | ||||||
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Diluted
EPS
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1.02 | 0.92 | ||||||
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Weighted
number of outstanding shares (diluted)
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310,345,241 | 322,804,287 | ||||||
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Number of
outstanding shares at September 30
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300,886,269 | 308,373,529 | ||||||
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Net debt to
capitalization ratio
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--- | % | 14.0 | % | ||||
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Return on
invested capital
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14.0 | % | 14.0 | % | ||||
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Bookings
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4,059,095 | 4,145,417 | ||||||
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Backlog
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10,892,636 | 11,644,979 | ||||||
Note:
Audited 2009 Annual Financial Statements are available on www.cgi.com/investors
and will be filed with both SEDAR and EDGAR.
“Thanks to the
loyalty of our clients and the dedication of our employees, fiscal 2009 was a
very successful year, especially in the context of the challenging market
conditions. By remaining focused on the fundamentals, we have continued
executing our profitable growth strategy while creating additional value for
shareholders,” commented Michael E. Roach, President and Chief Executive
Officer.
“We enter fiscal
2010 in an excellent position strategically, operationally and financially. We
have a strong balance sheet, including our $1.5 billion largely untapped credit
facility. In addition, our sales funnel remains robust and growing, including
excellent visibility on a number of significant profitable growth
opportunities.”
Q4
F2009 Results
For the fourth
quarter of fiscal 2009, CGI generated revenue of $926.1 million, compared with
$929.2 million in the fourth quarter of 2008.
Adjusted EBIT in
Q4 2009 was $126.1 million, or 13.6% of revenue compared with $105.3 million or
11.3% of revenue in the same period last year.
Earnings from
continuing operations in the fourth quarter were $82.6 million, representing a
margin of 8.9%. This is an improvement of $7.3 million or 9.7% compared with
$75.3 million in Q4 2008. Excluding the $9.5 million tax benefit recorded in the
year ago period, the improvement was 25.5%.
Diluted earnings
per share from continuing operations were 27 cents in the fourth quarter,
compared with 24 cents in the fourth quarter of 2008, representing an
increase of 12.5%. Excluding the tax benefit noted above, EPS in the year ago
period would have been 21 cents resulting in an improvement of
28.6%.
Cash provided by
operating activities totaled $192.5 million in the fourth quarter, or 20.8% of
revenue, compared with $82.9 million, or 8.9% of revenue, in the fourth quarter
of 2008.
As part of its
Normal Course Issuer Bid, the Company acquired 6.1 million shares for $65.4
million during the fourth quarter of 2009 at an average price of $10.70 per
share. In addition, following the end of the quarter, the Company repurchased
4.5 million shares in October, bringing the cumulative total number of shares
purchased under the current Normal Course Issuer Bid to
approximately
Page
2
CGI Reports Q4
and F2009 Results - November 9, 2009
14.0 million
or 52% of the authorized limit for the current buyback program, which runs
through February 2010.
In the fourth
quarter, new contract signings totaled $549.0 million, composed primarily of new
bookings in the financial services as well as the government & healthcare
verticals. This brings the total for the fiscal year to $4.1 billion in new
contract bookings.
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In $ 000’s
except percentages, share data and DSO
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||||||||
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All
figures are from continuing operations
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Q4-2009 | Q4-2008 | ||||||
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Revenue
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926,051 | 929,198 | ||||||
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Year-over-year
growth
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(0.3 | %) | 2.8 | % | ||||
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Year-over-year
growth at constant currency
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(1.4 | %) | 2.6 | % | ||||
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Adjusted
EBIT margin
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13.6 | % | 11.3 | % | ||||
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Earnings
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82,550 | 75,263 | ||||||
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Earnings
margin
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8.9 | % | 8.1 | % | ||||
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Diluted
EPS
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0.27 | 0.24 | ||||||
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Weighted
average number of outstanding shares (diluted)
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307,221,737 | 313,749,478 | ||||||
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DSO (Days
of sales outstanding)
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39 | 50 | ||||||
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Bookings
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548,807 | 982,486 | ||||||
“Bookings for the
quarter reflect some anticipated signings that have been moved into fiscal
2010,” added Michael E. Roach. “We remain committed to generating a book-to-bill
greater than 100% of revenue on a twelve month rolling basis.”
Q4
and full-year F2009 Results Conference Call
Senior management
will host a conference call to discuss results at 9 a.m. EST this morning.
Participants may access the call by dialing (800) 769-8320 or on the Web at
www.cgi.com/investors.
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/investors.
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
have approximately 26,000 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. As at September 30, 2009, CGI's fiscal 2009 revenue was $3.8
billion and our order backlog was $10.9 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 section 138.3 and following
of the Ontario Securities Act. These statements and this
information
Page
3
CGI Reports Q4
and F2009 Results - November 9, 2009
represent CGI’s
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
but 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 IT industry; general
economic and business conditions; foreign exchange and other risks identified in
the press release, 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), the
Company’s 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,” “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. You will find more information about the risks that could cause our
actual results to differ significantly from our current expectations in the
Risks and Uncertainties section.
-30-
For
more information:
Lorne
Gorber
Vice-President,
Global Communications & Investor Relations
514-841-3355
lorne.gorber@cgi.com
Page
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:
November 9, 2009
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By /s/ Benoit Dubé
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Name:
Benoit Dubé
Title: Vice-President, Corporate
Legal Affiairs
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