CDI Corporation

CDI Corp. Reports Second Quarter 2016 Results

PHILADELPHIA, Aug. 3, 2016 /PRNewswire/ — CDI Corp. (NYSE: CDI) (the “Company”) today reported results for the second quarter ended June 30, 2016.

“During the second quarter we made progress on our transformation and operational turnaround through additional improvements in our business development and delivery capabilities,” said CEO and President Scott J. Freidheim. “As we continue to execute our plan, we are committed to managing our costs and capital to deliver future growth and to improve operating profitability during the second half of 2016.”

Second Quarter Overview

  • Second quarter 2016 revenue of $226.7 million, a decrease of 8.2% versus second quarter 2015
  • Second quarter 2016 net loss attributable to CDI of $7.5 million, or $(0.39) per diluted share, versus a net loss of $0.2 million, or $(0.01) per diluted share, in second quarter 2015
  • Adjusted EBITDA loss of $2.7 million versus second quarter 2015 Adjusted EBITDA profit of $4.7 million1
  • Adjusted loss per diluted share of $(0.33) in the second quarter of 2016 versus adjusted earnings per diluted share of $0.00 in the second quarter of 20151
  • Repurchased 638,508 shares for $3.9 million during the second quarter 2016 and an aggregate of 1,190,356 shares for $7.3 million from inception of the program through August 1, 2016

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