918581--3/9/2007--CIBER

related topics

{debt, indebtedness, cash}

{customer, product, revenue}

{product, market, service}

{regulation, government, change}

{condition, economic, financial}

{capital, credit, financial}

{personnel, key, retain}

{provision, law, control}

{stock, price, operating}

{regulation, change, law}

{competitive, industry, competition}

{operation, international, foreign}

{acquisition, growth, future}

{system, service, information}

Our quarterly revenues, operating results and profitability will vary from quarter to quarter, which may result in increased volatility of our share price. Economic conditions and levels of client spending materially affect our results of operations. If we are not able to anticipate and keep pace with rapid changes in technology, our business will be negatively affected. We may face damage to our professional reputation and/or legal liability if our clients are not satisfied with our services. Termination of a contract by a significant client and/or cancellation with short notice could reduce our revenue and profitability and adversely affect our financial condition. We may experience declines in revenue and profitability if we do not accurately estimate the cost of a large engagement conducted on a fixed-price basis. Financial and operational risks of our international operations could result in a decline in revenue and profitability. We depend on contracts with various federal, state and local government agencies for a significant portion of our revenue, and if the spending policies or budget priorities of these agencies change, we could lose revenue. Unfavorable government audits could require us to adjust previously reported operating results, to forego anticipated revenue and subject us to penalties and sanctions. We may have difficulty integrating or managing those businesses we have acquired or may acquire in the future, which may have a material adverse impact on our financial results. Our future success depends on our ability to continue to retain and attract qualified employees. Our current indebtedness, and any future indebtedness, could adversely affect our business, our operating flexibility and our ability to make full payment on the Debentures. We may be unable to repurchase our outstanding Debentures for cash on specific dates or following a designated event. We may be unable to obtain surety bonds or letters of credit in support of client engagements on acceptable terms, if available, which could affect our ability to obtain additional client engagements that require them. The IT services industry is highly competitive, and we may not be able to compete effectively. We have adopted anti-takeover defenses that could make it difficult for another company to acquire control of CIBER or limit the price investors might be willing to pay for our stock, thus affecting the market price of our stock.

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918581--3/9/2007--CIBER_INC