Charles River Associates (CRAI - Free Report) delivered solid fourth-quarter 2018 results, with earnings and revenues surpassing the Zacks Consensus Estimate.
Non-GAAP earnings of 84 cents per share outpaced the consensus mark by 22 cents and increased 20% year over year. Revenues came in at $108.8 million, which beat the consensus mark by roughly $6 million and increased 12.1% year over year on an entirely organic basis.
Notably, the company reported double-digit year-over-year revenue growth in each of the trailing nine quarters. During the quarter, Charles River achieved company-wide utilization of 76% and headcounts increase of 9% year over year.
Shares of Charles River have gained 4.9% year to date compared with 13.7% rise of the industry it belongs to.
In terms of services offered, legal and regulatory as well as management consulting delivered solid results. This impressive performance can be attributed to double-digit year-over-year growth in Finance, Energy, Forensic Services, and Life Sciences practices. Solid contributions came from Antitrust & Competition Economics practice. Geographically, revenues from North American and European operations grew 9% and 26% year over year, respectively.
Charles River Associates Revenue (TTM)