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Cra International, Inc. (CRAI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 29, 2012

Cra International, Inc.

CIK: 1053706 Ticker: CRAI

EXHIBIT 99.1

 

FOR IMMEDIATE RELEASE

 

 

 

 

 

Contact:

 

 

Wayne D. Mackie

 

Jim Buckley

Executive Vice President, CFO

 

Executive Vice President

Charles River Associates

 

Sharon Merrill Associates, Inc.

617-425-3740

 

617-542-5300

 

CHARLES RIVER ASSOCIATES (CRA) ANNOUNCES
FOURTH-QUARTER AND FULL-YEAR FISCAL 2012 FINANCIAL RESULTS

 

Company Delivers Solid Fourth-Quarter Performance;

On Track For Previously Announced Savings

 

BOSTON, February 14, 2013 — Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing management, economic and financial consulting services, today announced financial results for the fiscal fourth quarter and year ended December 29, 2012.

 

Revenue for the fourth quarter of fiscal 2012 was $67.5 million, compared with $75.0 million for the fourth quarter of fiscal 2011, ended December 31, 2011. Non-GAAP revenue for the fourth quarter of fiscal 2012 was $66.0 million, compared with $73.1 million for the fourth quarter of fiscal 2011.

 

The net loss for the fourth quarter of fiscal 2012 was $53.5 million, or $5.33 per share, which includes a net of tax, non-cash goodwill impairment charge of $57.8 million. This compares with net income for the fourth quarter of fiscal 2011 of $4.4 million, or $0.42 per diluted share.  Non-GAAP net income for the fourth quarter of fiscal 2012 was $4.3 million, or $0.43 per diluted share, compared with $4.3 million, or $0.40 per diluted share, for the fourth quarter of fiscal 2011.

 

A complete reconciliation between revenue, net income or loss (as applicable) and net income or loss per diluted share (as applicable), on a GAAP and non-GAAP basis, for the fourth quarters of fiscal 2012 and fiscal 2011, and for fiscal years 2012 and 2011, are provided in the financial tables at the end of this release.

 

Comments on the Fourth Quarter

 

“CRA’s fourth quarter performance was on track as we delivered sequential revenue growth and experienced steady demand for our services,” said Paul Maleh, CRA’s President and Chief Executive Officer. “We achieved our established target for the fourth quarter of double-digit non-GAAP operating margin, which reached 10%. At the same time, we increased our sequential non-

 

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The following information was filed by Cra International, Inc. (CRAI) on Thursday, February 14, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Business Segment And Geographic Information
Business Segment And Geographic Information (details)
Business Segment And Geographic Information (tables)
Common Stock
Common Stock (details)
Compensation Arrangements
Compensation Arrangements (details)
Employee Benefit Plans
Employee Benefit Plans (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details 2)
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details)
Income Taxes (tables)
Leases
Leases (details)
Leases (tables)
Net Income (loss) Per Share
Net Income (loss) Per Share (details)
Net Income (loss) Per Share (tables)
Other Assets
Other Assets (details)
Other Assets (tables)
Prepaids And Other Assets
Prepaids And Other Assets (details)
Prepaids And Other Assets (tables)
Private Placement Of Convertible Debt And Other Financing
Private Placement Of Convertible Debt And Other Financing (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Related-party Transactions
Related-party Transactions (details)
Restructuring Charges
Restructuring Charges (details)
Restructuring Charges (tables)
Share-based Compensation
Share-based Compensation (details 2)
Share-based Compensation (details 3)
Share-based Compensation (details 4)
Share-based Compensation (details 5)
Share-based Compensation (details 6)
Share-based Compensation (details)
Share-based Compensation (tables)
Subsequent Event
Subsequent Event (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details 5)
Summary Of Significant Accounting Policies (details 6)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Transition Period Financial Information
Transition Period Financial Information (details)
Transition Period Financial Information (tables)
Ticker: CRAI
CIK: 1053706
Form Type: 10-K Annual Report
Accession Number: 0001047469-13-002423
Submitted to the SEC: Fri Mar 08 2013 3:28:28 PM EST
Accepted by the SEC: Fri Mar 08 2013
Period: Saturday, December 29, 2012
Industry: Legal Services

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