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Cra International, Inc. (CRAI) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 28, 2020

SEC Filings

CRAI Quarterly Reports

Cra International, Inc.

CIK: 1053706 Ticker: CRAI

 

Exhibit 99.1

 

Contacts:  
Dan Mahoney Jamie Bernard, IRC
Chief Financial Officer Senior Associate
Charles River Associates Sharon Merrill Associates, Inc.
617-425-3505 617-542-5300

 

CHARLES RIVER ASSOCIATES (CRA) REPORTS
FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2020

 

Broad-based Contributions Across Services Drive 19.2% Revenue

Growth Year Over Year

 

BOSTON, April 30, 2020 –

Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fiscal first quarter ended March 28, 2020.

 

Key First-Quarter Fiscal 2020 Highlights

 

·Revenue grew 19.2% year over year to $126.2 million.

 

·Utilization was 71%, while quarter-end headcount increased 16.3% year over year.

 

·Net income, earnings per diluted share, and non-GAAP EBITDA for the first quarter of fiscal 2020 were positively impacted by a foreign currency gain of approximately $1.4 million related to net gains on foreign denominated transactions and the revaluation of working capital balances, compared with a foreign currency loss of approximately $0.7 million for the first quarter of fiscal 2019.

 

·Net income increased 38.6% year over year to $6.5 million, or 5.1% of revenue, compared with $4.7 million, or 4.4% of revenue, in the first quarter of fiscal 2019; non-GAAP net income increased 50.5% year over year to $6.8 million, or 5.4% of revenue, compared with $4.5 million, or 4.3% of revenue, in the first quarter of fiscal 2019.

 

·Earnings per diluted share increased 42.9% year over year to $0.80; non-GAAP earnings per diluted share increased 55.6% year over year to $0.84.

 

·Non-GAAP EBITDA increased 51.5% to $12.9 million, or 10.2% of revenue, compared with $8.5 million, or 8.0% of revenue, in the first quarter of fiscal 2019.

 

·On a constant currency basis relative to the first quarter of fiscal 2019, revenue would have been higher by $0.3 million, while GAAP and non-GAAP net income, earnings per diluted share and EBITDA would have been higher by $0.1 million, $0.02 per diluted share, $0.2 million, respectively.

 

·CRA returned $5.6 million of capital to its shareholders, consisting of $1.8 million of dividend payments and $3.8 million for share repurchases of approximately 83,000 shares.

 


The following information was filed by Cra International, Inc. (CRAI) on Thursday, April 30, 2020 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 2020 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 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)
Condensed Consolidated Statements Of Operations (Unaudited)
Accrued Expenses
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Accrued Expenses (Tables)
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Credit Agreement (Details)
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Fair Value Of Financial Instruments (Details)
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Forgivable Loans (Details)
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Goodwill And Intangible Assets - Acquired And Amortization (Details)
Income Taxes
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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 - Description Of Business And Fiscal Year (Details)
Summary Of Significant Accounting Policies - Recent Accounting Standards Not Yet Adopted (Details)

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

Ticker: CRAI
CIK: 1053706
Form Type: 10-Q Quarterly Report
Accession Number: 0001047469-20-002732
Submitted to the SEC: Thu Apr 30 2020 8:20:18 AM EST
Accepted by the SEC: Thu Apr 30 2020
Period: Saturday, March 28, 2020
Industry: Legal Services

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