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Cra International, Inc. (CRAI) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 26, 2020

Cra International, Inc.

CIK: 1053706 Ticker: CRAI

 

Exhibit 99.1

 

Contacts:  
Dan Mahoney Nick Manganaro
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 THIRD QUARTER OF 2020

 

Strength Across Services and Geographies Drives Growth in Revenue;

Reinstates Financial Guidance for Fiscal Year 2020;

Increases Quarterly Dividend by 13%

 

BOSTON, October 29, 2020 –

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 26, 2020.

 

Key Third-Quarter Fiscal 2020 Highlights

 

·Revenue grew 5.3% year over year to $121.8 million.

 

·Utilization was 69%, while quarter-end headcount increased 11.5% year over year.

 

·Net income was $5.4 million, or 4.4% of revenue, compared with $5.7 million, or 5.0% of revenue, in the third quarter of fiscal 2019; non-GAAP net income was $6.1 million, or 5.0% of revenue, compared with $7.9 million, or 6.9% of revenue, in the third quarter of fiscal 2019.

 

·Earnings per diluted share were $0.68, compared with $0.71 in the third quarter of fiscal 2019; non-GAAP earnings per diluted share were $0.76, compared with $0.98 in the third quarter of fiscal 2019.

 

·Non-GAAP EBITDA was $12.0 million, or 9.8% of revenue, compared with $12.6 million, or 10.9% of revenue, in the third quarter of fiscal 2019.

 

·On a constant currency basis relative to the third quarter of fiscal 2019, revenue would have been lower by $0.9 million, GAAP net income and earnings per diluted share would have been lower by $0.2 million and $0.02, respectively. Non-GAAP net income, earnings per diluted share and EBITDA would have been lower by $0.2 million, $0.02 per diluted share, $0.2 million, respectively.

 

·CRA returned $6.8 million of capital to its shareholders, consisting of $1.8 million of dividend payments and $5.0 million for share repurchases of approximately 110,000 shares.

 


The following information was filed by Cra International, Inc. (CRAI) on Thursday, October 29, 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
Accrued Expenses (Details)
Accrued Expenses (Tables)
Commitments And Contingencies
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)
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 - Narrative (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)

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: 0001053706-20-000008
Submitted to the SEC: Thu Oct 29 2020 8:19:16 AM EST
Accepted by the SEC: Thu Oct 29 2020
Period: Saturday, September 26, 2020
Industry: Legal Services

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