Back to top

Analyst Blog

CRA International Inc (CRAI - Analyst Report) reported net income of $3.0 million or 29 cents per share in first quarter 2013 versus net income of $0.5 million or 5 cents per share in the year-ago quarter. Non-GAAP net income for the reported quarter was 31 cents per share compared with 9 cents in the year-earlier quarter. Non-GAAP earnings for the reported quarter missed the Zacks Consensus Estimate by a couple of cents.

Quarter Highlights

Revenues for first quarter 2013 were $63.1 million compared with $69.1 million in the year-ago quarter. The quarterly revenues missed the Zacks Consensus Estimate of $67 million. Non-GAAP revenues for first quarter 2013 were $62.0 million versus $68.0 million in the year-ago quarter.

During the reported quarter, CRA International’s portfolio delivered healthy performance in Antitrust & Competition Economics, Intellectual Property, Labor & Employment, and Auctions & Competitive Bidding, offset by a relatively weak performance in Finance, Life Sciences, and Marakon.

Gross profit was $21.1 million in the reported quarter versus $22.6 million in the year-ago quarter. Selling, general and administrative expenses (SG&A) stood at $15.8 million versus $17.9 million in the year-ago period.

Financial Position

As of Mar 30, 2013, cash and cash equivalents were $30.6 million compared with $55.5 million at Dec 29, 2012. Long term liabilities stood at $9.8 million as of Mar30, 2013 versus $10.6 million as of Dec 29, 2012.

Subsequent to the quarter-end, CRA International closed a five-year term revolving facility worth $125 million, replacing an existing credit facility worth $60 million for a three-year term.

Outlook

CRA International aims to better focus on its service portfolio and allocate its resources on core areas to enhance business profitability and is bullish about overall growth in 2013. Based on its restructuring initiatives, CRA International aims to achieve profitable growth organically.
 
CRA International currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth considering in the industry are Huron Consulting Group Inc (HURN - Snapshot Report), Franklin Covey Co (FC - Snapshot Report) and Navigant Cosulting Inc  (NCI - Analyst Report), each carrying a Zacks Rank #2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
CENTURY ALU… CENX 22.53 +4.50%
ERBA DIAGNO… ERB 2.91 +4.30%
PLANAR SYST… PLNR 4.31 +3.86%
MALLINCKROD… MNK 72.17 +3.83%
GTT COMMUNI… GTT 12.06 +3.52%