$HCKT
HACKETT GROUP, INC.

2017 Q2 Form 10-Q Financial Statement

#000156459017017017 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q3
Revenue $67.73M $71.43M $66.81M
YoY Change 9.28% 7.65% 0.62%
Cost Of Revenue $49.06M $47.95M $50.78M
YoY Change 4.93% 12.28% 13.91%
Gross Profit $18.67M $23.48M $16.03M
YoY Change -15.25% -0.74% -26.5%
Gross Profit Margin 27.57% 32.86% 23.99%
Selling, General & Admin $16.76M $15.51M $16.20M
YoY Change 13.3% -10.6% 2.76%
% of Gross Profit 89.75% 66.07% 101.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.140M $639.0K $890.0K
YoY Change 23.91% -47.62% -26.45%
% of Gross Profit 6.11% 2.72% 5.55%
Operating Expenses $16.76M $15.51M $16.20M
YoY Change 13.3% -10.6% 2.69%
Operating Profit $6.000M $7.610M $9.007M
YoY Change -17.13% 20.79% 49.12%
Interest Expense $127.0K $90.00K $110.0K
YoY Change -417.5% -250.0% -200.0%
% of Operating Profit 2.12% 1.18% 1.22%
Other Income/Expense, Net
YoY Change
Pretax Income $6.337M $7.874M $8.528M
YoY Change -11.97% 26.19% 43.57%
Income Tax $1.587M $0.00 $3.082M
% Of Pretax Income 25.04% 0.0% 36.14%
Net Earnings $4.750M $7.874M $5.488M
YoY Change 8.4% 93.94% 48.73%
Net Earnings / Revenue 7.01% 11.02% 8.21%
Basic Earnings Per Share $0.16 $0.27 $0.19
Diluted Earnings Per Share $0.15 $0.24 $0.17
COMMON SHARES
Basic Shares Outstanding 29.04M 28.87M 29.29M
Diluted Shares Outstanding 32.51M 32.29M 32.88M

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.40M $17.10M $15.60M
YoY Change 14.29% -27.23% -3.7%
Cash & Equivalents $14.40M $17.05M $15.62M
Short-Term Investments
Other Short-Term Assets $3.200M $2.600M $2.300M
YoY Change 33.33% 36.84% -52.08%
Inventory
Prepaid Expenses
Receivables $50.40M $49.90M $47.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $68.00M $69.60M $65.40M
YoY Change 9.5% 3.11% -0.3%
LONG-TERM ASSETS
Property, Plant & Equipment $16.50M $15.80M $14.10M
YoY Change 18.71% 12.06% 0.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.200M $2.800M $3.500M
YoY Change 33.33% -33.33% -35.19%
Total Long-Term Assets $106.9M $91.20M $90.90M
YoY Change 16.07% -1.83% -4.11%
TOTAL ASSETS
Total Short-Term Assets $68.00M $69.60M $65.40M
Total Long-Term Assets $106.9M $91.20M $90.90M
Total Assets $174.9M $160.8M $156.3M
YoY Change 13.42% 0.25% -2.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.200M $11.70M $6.300M
YoY Change -24.07% 40.96% 21.15%
Accrued Expenses $19.10M $21.40M $28.00M
YoY Change -40.87% -29.61% 13.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.20M $45.80M $46.70M
YoY Change 4.87% -8.58% 6.86%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $9.000M $21.50M
YoY Change 44.3%
Other Long-Term Liabilities $7.000M
YoY Change
Total Long-Term Liabilities $27.00M $9.000M $21.50M
YoY Change 44.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.20M $45.80M $46.70M
Total Long-Term Liabilities $27.00M $9.000M $21.50M
Total Liabilities $83.08M $64.70M $79.60M
YoY Change 54.14% 11.17% 17.93%
SHAREHOLDERS EQUITY
Retained Earnings -$48.59M
YoY Change
Common Stock $282.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $131.6M
YoY Change
Treasury Stock Shares $26.76M
Shareholders Equity $91.85M $96.00M $76.70M
YoY Change
Total Liabilities & Shareholders Equity $174.9M $160.8M $156.3M
YoY Change 13.44% 0.25% -2.56%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q3
OPERATING ACTIVITIES
Net Income $4.750M $7.874M $5.488M
YoY Change 8.4% 93.94% 48.73%
Depreciation, Depletion And Amortization $1.140M $639.0K $890.0K
YoY Change 23.91% -47.62% -26.45%
Cash From Operating Activities $4.110M $4.880M $7.240M
YoY Change 661.11% -71.23% -20.35%
INVESTING ACTIVITIES
Capital Expenditures -$1.320M $1.634M -$770.0K
YoY Change 169.39% -386.67% -10.47%
Acquisitions
YoY Change
Other Investing Activities -$9.010M
YoY Change
Cash From Investing Activities -$10.32M -$1.630M -$770.0K
YoY Change 2006.12% 185.96% -10.47%
FINANCING ACTIVITIES
Cash Dividend Paid $4.023M
YoY Change
Common Stock Issuance & Retirement, Net $4.071M
YoY Change
Debt Paid & Issued, Net $6.000M
YoY Change
Cash From Financing Activities 3.570M -5.890M -3.500M
YoY Change -132.78% -35.63% 39.44%
NET CHANGE
Cash From Operating Activities 4.110M 4.880M 7.240M
Cash From Investing Activities -10.32M -1.630M -770.0K
Cash From Financing Activities 3.570M -5.890M -3.500M
Net Change In Cash -2.640M -2.640M 2.970M
YoY Change -75.65% -136.46% -48.08%
FREE CASH FLOW
Cash From Operating Activities $4.110M $4.880M $7.240M
Capital Expenditures -$1.320M $1.634M -$770.0K
Free Cash Flow $5.430M $3.246M $8.010M
YoY Change 427.18% -81.48% -19.5%

Facts In Submission

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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. </p></div>
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39335000
CY2017Q2 hckt Unbilled Revenue
UnbilledRevenue
15789000
CY2016Q4 hckt Unbilled Revenue
UnbilledRevenue
10638000
CY2017Q2 hckt Accrued Compensation And Benefits
AccruedCompensationAndBenefits
8002000
CY2016Q4 hckt Accrued Compensation And Benefits
AccruedCompensationAndBenefits
4412000
CY2017Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1954000
CY2016Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
13038000
CY2016Q4 us-gaap Dividends Cash
DividendsCash
4000000
CY2017Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
594000
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2079000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
195000
CY2016Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
29000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
284000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3300000
CY2016Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
400000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3800000
CY2016Q2 hckt Weighted Average Shares Outstanding Increase Decrease
WeightedAverageSharesOutstandingIncreaseDecrease
0.11
CY2016Q2 hckt Weighted Average Shares Outstanding Accretive
WeightedAverageSharesOutstandingAccretive
0.03
CY2016Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.26
us-gaap Operating Income Loss
OperatingIncomeLoss
15878000
us-gaap Net Income Loss
NetIncomeLoss
9828000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29587570
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32402508
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33117581
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
33476000
CY2016Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
4023000
CY2016Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
10975000
CY2016Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
3791000
CY2016Q4 hckt Accrued Share Based Compensation
AccruedShareBasedCompensation
4225000
CY2016Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
4437000
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1824000
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
1300000
CY2017Q2 us-gaap Restructuring Reserve
RestructuringReserve
238000
us-gaap Restructuring Charges
RestructuringCharges
1293000
us-gaap Payments For Restructuring
PaymentsForRestructuring
1055000
CY2012 hckt Percentage Of Equity Incentive Compensation Awards Given Up
PercentageOfEquityIncentiveCompensationAwardsGivenUp
0.50
CY2017Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
600000
CY2017Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
21000
CY2017Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
400000
CY2016Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1500000
CY2016Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
14.77
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
3100000
CY2016Q2 hckt Weighted Average Shares Outstanding Increase Decrease
WeightedAverageSharesOutstandingIncreaseDecrease
0.04
CY2016Q2 hckt Weighted Average Shares Outstanding Accretive
WeightedAverageSharesOutstandingAccretive
0.04
CY2016Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2016Q3 us-gaap Dividends Cash
DividendsCash
4000000
CY2017Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.30
CY2017Q2 us-gaap Noncurrent Assets
NoncurrentAssets
106924000
CY2016Q4 us-gaap Noncurrent Assets
NoncurrentAssets
90486000
CY2016Q4 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
11900000

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