CGI reports strong 2nd quarter Fiscal 2021 results.

MONTREAL: CGI (TSX: GIB.A) (NYSE: GIB) reported Fiscal 2021 second quarter results this morning.

Bookings up 40% and EPS up 13.6% year-over-year

Q2-F2021 performance highlights

Revenue of $3.08 billion;

Adjusted EBIT of $486.3 million, and margin of 15.8%, up 40 basis points year-over-year;

Net earnings of $341.2 million, up 8.4%, for a margin of 11.1%;

Diluted EPS of $1.34, up 13.6% year-over-year;

Net earnings of $341.9 million and diluted EPS of $1.35, both excluding specific items*;

Cash from operating activities of $572.6 million, up 44.4% year-over-year; and

Bookings of $3.89 billion, for a book-to-bill ratio of 126%.

*Specific items in Q2-F2021 include: $0.6 million in acquisition-related and integration costs net of tax; Specific items in Q2-F2020 include: $23.3 million in acquisition-related and integration costs and $0.2 million in restructuring costs, both net of tax;

"CGI delivered another strong quarter underscored by solid margins, robust cash generation and positive revenue trends," said President and Chief Executive Officer, George D. Schindler. "The ability of our talented consultants to deliver the right insights and solutions to our clients is clearly visible in the 40% year-over-year increase in total bookings this quarter. With the continued acceleration in demand for our end-to-end services across every industry and geography that we serve, we are well positioned to return to year-over-year revenue growth in the second half of fiscal year 2021."

For the second quarter of F2021, the Company reported revenue of $3.08 billion, compared with $3.13 billion in the same period last year.

Adjusted EBIT was $486.3 million, with EBIT margin of 15.8% representing an improvement of 40 basis points from 15.4% in the same period last year.

Net earnings were $341.2 million in Q2-F2021, up 8.4% compared with the same period last year. Diluted earnings per share increased to $1.34 compared to $1.18 last year representing an increase of 13.6% year-over-year.

Excluding acquisition-related integration and restructuring costs, both net of tax, net earnings were $341.9 million in Q2-F2021 for a margin of 11.1%. On the same basis, diluted earnings per share increased by 7.1% to $1.35, up from $1.26 from the same period last year.

Bookings were $3.89 billion in Q2-F2021, up 40% year-over-year and representing a book-to-bill ratio of 126%. At the end of March 2021, the Company's backlog stood at $23.09 billion.

Cash provided by operating...