CRA International Inc ( CRAI ) 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.CRA INTL INC (CRAI): Free Stock Analysis ReportFRANKLIN COVEY (FC): Free Stock Analysis ReportHURON CONSLT GP (HURN): Free Stock Analysis
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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.
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
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 ),
Franklin Covey Co ( FC ) and
Navigant Cosulting Inc ( NCI ), each carrying a
Zacks Rank #2 (Buy).