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Cra International, Inc. (CRAI) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 28, 2019

Cra International, Inc.

CIK: 1053706 Ticker: CRAI

Exhibit 99.1

 

Contacts:

 

 

 

Chad Holmes

Jamie Bernard, IRC

Chief Financial Officer

Senior Associate

Charles River Associates

Sharon Merrill Associates, Inc.

312-377-2322

617-542-5300

 

CHARLES RIVER ASSOCIATES (CRA) REPORTS
FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2019

 

Strong Performance Reflects Continued Growth Across Services and Geographies;

Raises Revenue Guidance for Fiscal 2019;

Increases Quarterly Dividend by 15%

 

BOSTON, October 31, 2019 — Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fiscal third quarter ended September 28, 2019.

 

Key Third-Quarter Fiscal 2019 Highlights

 

·                  Revenue grew 11.4% year over year to $115.7 million.

 

·                  Utilization was 76%, while quarter-end headcount increased 8.2% year over year.

 

·                  Net income increased 46.9% year over year to $5.7 million, or 5.0% of revenue, compared with $3.9 million, or 3.8% of revenue, in the third quarter of fiscal 2018; non-GAAP net income increased 42.2% year over year to $7.9 million, or 6.9% of revenue, compared with $5.6 million, or 5.4% of revenue, in the third quarter of fiscal 2018.

 

·                  Earnings per diluted share increased 54.3% year over year to $0.71; non-GAAP earnings per diluted share increased 50.8% year over year to $0.98.

 

·                  Non-GAAP EBITDA grew 25.6% year over year to $12.6 million, or 10.9% of revenue, compared with $10.1 million, or 9.7% of revenue, in the third quarter of fiscal 2018.

 

·                  On a constant currency basis relative to the third quarter of fiscal 2018, revenue would have been higher by $1.1 million, while GAAP and non-GAAP net income, earnings per diluted share and EBITDA would have been approximately $0.1 million, $0.01 per diluted share, and $0.1 million higher, respectively.

 

·                  CRA returned $8.1 million of capital to its shareholders, consisting of $1.5 million of dividend payments and $6.6 million for share repurchases of approximately 157,000 shares.

 

1


The following information was filed by Cra International, Inc. (CRAI) on Thursday, October 31, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Cra International, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Cra International, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Income Statements (Unaudited)
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited)
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Accrued Expenses
Accrued Expenses (Details)
Accrued Expenses (Tables)
Contingencies
Correction
Correction (Details)
Correction (Tables)
Credit Agreement
Credit Agreement (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
Fair Value Of Financial Instruments (Tables)
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)
Leases
Leases (Details)
Leases (Tables)
Leases - Maturities Of Lease Liabilities Under Non-Cancellable Operating Leases (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Balances From Contracts With Customers (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Reserves For Variable Consideration And Credit Risk (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - (Details)
Summary Of Significant Accounting Policies - Gnu Interest (Details)
Summary Of Significant Accounting Policies - Recent Accounting Standards Adopted (Details)

Material Contracts, Statements, Certifications & more

Cra International, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CRAI
CIK: 1053706
Form Type: 10-Q Quarterly Report
Accession Number: 0001047469-19-005994
Submitted to the SEC: Thu Oct 31 2019 4:18:07 AM EST
Accepted by the SEC: Thu Oct 31 2019
Period: Saturday, September 28, 2019
Industry: Legal Services

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