T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, October 28, 2017, Vol. 21, No. 300
CIBER INC: Reports $3.49 Million Net Loss in August
CIBER INC: Reports $3.49 Million Net Loss in August
CIBER Inc., et. al., filed with the U.S. Securities and Exchange
Commission their monthly operating report for August 2017.
CIBER Inc. listed a net loss of $3.49 million on $54,000 of total
revenues in August, a decrease from $6.55 million net loss recorded
in the previous month.
As of August 31, 2017, CIBER Inc. posted $44.14 million in total
assets, $15.76 million in total liabilities, and $28.38 million in
total shareholders' equity.
The Debtors started the month with $47.49 million cash. They
listed $19.38 million in total receipts and $5.09 million in total
disbursements. Taking into consideration other accounts, the
Debtors had $47.49 million cash at August 31.
A copy of the monthly operating report is available for free at the
SEC at https://is.gd/RFefjG
About CIBER Inc.
CIBER, Inc. -- http://www.ciber.com/-- is a global information
technology consulting, services and outsourcing company.
CIBER, Inc., and two other affiliates sought bankruptcy protection
on April 9, 2017 (Bankr. D. Del. Lead Case No. 17-10772). The
petition was signed by Christian Mezger, chief financial officer.
The Debtors disclosed total assets of $334.2 million and total
liabilities of $171.9 million as of Sept. 30, 2016.
The Hon. Brendan Linehan Shannon presides over the case.
Morrison & Foerster LLP is the Debtors' lead bankruptcy counsel.
Polsinelli, PC, serves as co-counsel while Saul Ewing LLP serves as
local counsel. The Debtors also hired Houlihan Lokey as investment
banker and financial advisor; Alvarez & Marsal North America, LLC,
as restructuring advisor; and Prime Clerk LLC as noticing and
An official committee of unsecured creditors has been appointed in
the Chapter 11 case. The committee retained Perkins Coie, LLP, as
bankruptcy counsel; Shaw Fishman Glantz & Towbin LLC as co-counsel;
and BDO Consulting as financial advisor.
Since the closing of the Sale, the Debtors have taken steps to
change their corporate names from CIBER, Inc., to CMTSU
Liquidation, Inc., CIBER Consulting, Incorporated, to CMTSU
Liquidation 2, Inc., and CIBER International LLC, to CMTSU
Liquidation 3, LLC.
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