CGI Group Inc. announced consolidated earnings results for the first quarter of fiscal 2016. Adjusted EBIT increased to $384.1 million, representing a margin of 14.3%, compared with $344.0 million a year ago. Net earnings excluding specific items increased to $264.9 million or 9.9% of revenue, compared with $236.3 million a year ago. Earnings per diluted share were 84 cents, an increase of 13.5% compared with 74 cents last year. On a GAAP basis, net earnings were $237.7 million or 75 cents per diluted share. Cash generated from operating activities was $328.2 million; and over the last twelve months, the company has generated $1.3 billion or $3.99 in cash per diluted share. Revenue was $2,683.7. Return on equity was 16.9% against 18.9% a year ago. Net debt was $1.6 billion, representing a year-over-year reduction of $350.8 million. Adjusted EBIT was $384.1 million, up 11.6%.

The company expects fiscal 2016 effective tax rate to be in the 26% to 28% range. The benefits will continue contributing to double-digit EPS growth throughout fiscal 2016.