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Cra International, Inc. (CRAI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 29, 2018

Cra International, Inc.

CIK: 1053706 Ticker: CRAI

Exhibit 99.1

 

FINAL FOR RELEASE

 

Contacts:

 

Chad Holmes

Jamie Bernard

Chief Financial Officer

Senior Associate

Charles River Associates

Sharon Merrill Associates, Inc.

312-377-2322

617-542-5300

 

CHARLES RIVER ASSOCIATES (CRA) REPORTS
FOURTH-QUARTER AND FULL-YEAR 2018 FINANCIAL RESULTS

 

Strong Fourth Quarter Results Cap Record Breaking Year

Board Expands Share Repurchase Authorization by $20 Million

 

BOSTON, February 28, 2019 — Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results and filed its Form 10-K for the fiscal year ended December 29, 2018.

 

“CRA ended fiscal 2018 with continued strong performance across our entire portfolio, delivering the best full year results in the Company’s history,” said Paul Maleh, CRA’s President and Chief Executive Officer. “For the fourth quarter, revenue grew 12.1% year over year to $108.8 million. This growth was achieved organically, with strong performance within both legal and regulatory and management consulting. More specifically, our performance was driven by double-digit revenue growth in our Energy, Finance, Forensic Services, and Life Sciences practices with solid contributions from our Antitrust & Competition Economics practice. We also experienced strength across geographies, with North American operations growing 9% and European operations growing 26% year over year.”

 

Key Fourth-Quarter Fiscal 2018 Highlights

 

·                  Revenue grew 12.1% year over year to $108.8 million, driven by an increase in companywide utilization to 76%, compared with 75% in the fourth quarter of 2017 and quarter-end headcount growth of 9%.

·                  GAAP net income increased to $6.9 million, or $0.81 per diluted share, compared with GAAP net loss of $2.3 million, or a loss of $0.28 per share in the fourth quarter of fiscal 2017. Non-GAAP net income increased 19.7% year over year to $7.1 million, or 6.5% of revenue, or $0.84 per diluted share, compared with $5.9 million, or 6.1% of revenue, or $0.70 per diluted share for the fourth quarter of fiscal 2017.

 

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The following information was filed by Cra International, Inc. (CRAI) on Thursday, February 28, 2019 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
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accrued Expenses
Accrued Expenses (Details)
Accrued Expenses (Tables)
Business Acquisitions
Business Acquisitions (Details)
Business Acquisitions (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Correction
Correction (Details)
Correction (Tables)
Credit Agreement
Credit Agreement (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Forgivable Loans
Forgivable Loans (Details)
Forgivable Loans (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Acquired And Amortization (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Components Of Income, Provision For And Reconciliation Of Tax (Details)
Income Taxes - Deferred Taxes And Operating Loss Carryforwards (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Property And Equipment - Long-Lived Assets (Details)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Details)
Quarterly Financial Data (Unaudited) (Tables)
Related-Party Transactions
Related-Party Transactions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Balances From Contracts With Customers (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - General (Details)
Revenue Recognition - Reserves For Variable Consideration And Credit Risk (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - 2006 Equity Plan (Details)
Share-Based Compensation - Expense (Details)
Share-Based Compensation - Non-Vested Stock Options (Details)
Share-Based Compensation - Option Activity (Details)
Share-Based Compensation - Restricted Shares And Other (Details)
Share-Based Compensation - Weighted Average Fmv Of Stock Option (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Deferred Compensation (Details)
Summary Of Significant Accounting Policies - Description Of Business And Fiscal Year (Details)
Summary Of Significant Accounting Policies - Fair Value Of Financial Instruments (Details)
Summary Of Significant Accounting Policies - Foreign Currency Translation (Details)
Summary Of Significant Accounting Policies - Gnu Interest (Details)
Summary Of Significant Accounting Policies - Goodwill And Intangible Assets (Details)
Summary Of Significant Accounting Policies - Property And Equipment (Details)
Summary Of Significant Accounting Policies - Recent Accounting Standards Adopted (Details)
Summary Of Significant Accounting Policies - Recent Accounting Standards Not Yet Adopted (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Ticker: CRAI
CIK: 1053706
Form Type: 10-K Annual Report
Accession Number: 0001047469-19-000778
Submitted to the SEC: Thu Feb 28 2019 8:43:52 AM EST
Accepted by the SEC: Thu Feb 28 2019
Period: Saturday, December 29, 2018
Industry: Legal Services

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