Computer Modelling Group boosts revenue, profit by 6% in third quarter

CALGARY – Computer Modelling Group Ltd. (TSX:CMG) is reporting a six per cent increase in third quarter net income, an increase in lockstep with an improvement in quarterly revenue.

The Calgary-headquartered software company is focused on the oil and gas industry.

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It earned $6.1 million or 16 cents per share in the latest period, up from $5.8 million, also equivalent to 16 cents per share, in the same 2011 period.

Total revenue was $16.8 million, also up six per cent from up $15.9 million in the prior-year period.

CMG, with sales and technical support services based in Calgary, Houston, London, Caracas and Dubai, supplies advanced software to international oil companies and technology centres in more than 50 countries.

It also provides professional services consisting of highly specialized support, consulting, training and contract research activities.