$HCKT
HACKETT GROUP, INC.

2018 Q1 Form 10-Q Financial Statement

#000156459018012350 Filed on May 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1 2016 Q4
Revenue $72.73M $71.43M $62.95M
YoY Change 1.83% 7.65% -6.36%
Cost Of Revenue $48.14M $47.95M $45.57M
YoY Change 0.38% 12.28% 1.09%
Gross Profit $24.60M $23.48M $24.48M
YoY Change 4.78% -0.74% 10.57%
Gross Profit Margin 33.82% 32.86% 38.89%
Selling, General & Admin $16.28M $15.51M $14.81M
YoY Change 4.93% -10.6% -13.9%
% of Gross Profit 66.17% 66.07% 60.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $580.0K $639.0K $880.0K
YoY Change -9.23% -47.62% -26.67%
% of Gross Profit 2.36% 2.72% 3.59%
Operating Expenses $16.28M $15.51M $14.81M
YoY Change 4.93% -10.6% -13.85%
Operating Profit $8.280M $7.610M $9.668M
YoY Change 8.8% 20.79% 95.31%
Interest Expense $179.0K $90.00K -$100.0K
YoY Change 98.89% -250.0% 0.0%
% of Operating Profit 2.16% 1.18% -1.03%
Other Income/Expense, Net
YoY Change
Pretax Income $8.101M $7.874M $9.569M
YoY Change 2.88% 26.19% 97.71%
Income Tax $800.0K $0.00 $3.340M
% Of Pretax Income 9.88% 0.0% 34.9%
Net Earnings $7.367M $7.874M $6.225M
YoY Change -6.44% 93.94% 103.43%
Net Earnings / Revenue 10.13% 11.02% 9.89%
Basic Earnings Per Share $0.25 $0.27 $0.22
Diluted Earnings Per Share $0.23 $0.24 $0.19
COMMON SHARES
Basic Shares Outstanding 29.09M 28.87M
Diluted Shares Outstanding 31.81M 32.29M

Balance Sheet

Concept 2018 Q1 2017 Q1 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.70M $17.10M $19.70M
YoY Change 38.6% -27.23% 20.86%
Cash & Equivalents $23.67M $17.05M $19.71M
Short-Term Investments
Other Short-Term Assets $3.500M $2.600M $1.700M
YoY Change 34.62% 36.84% -34.62%
Inventory
Prepaid Expenses
Receivables $51.90M $49.90M $47.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $79.07M $69.60M $68.81M
YoY Change 13.6% 3.11% 9.4%
LONG-TERM ASSETS
Property, Plant & Equipment $20.65M $15.80M $14.77M
YoY Change 30.71% 12.06% 4.04%
Goodwill $85.69M $72.38M
YoY Change
Intangibles $2.702M
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.641M $2.800M $3.336M
YoY Change 101.46% -33.33% -30.5%
Total Long-Term Assets $112.0M $91.20M $90.49M
YoY Change 22.79% -1.83% -3.74%
TOTAL ASSETS
Total Short-Term Assets $79.07M $69.60M $68.81M
Total Long-Term Assets $112.0M $91.20M $90.49M
Total Assets $191.0M $160.8M $159.3M
YoY Change 18.81% 0.25% 1.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.621M $11.70M $9.089M
YoY Change -26.32% 40.96% 51.48%
Accrued Expenses $23.20M $21.40M $35.80M
YoY Change 8.41% -29.61% 43.2%
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 $48.42M $45.80M $55.81M
YoY Change 5.73% -8.58% 38.84%
LONG-TERM LIABILITIES
Long-Term Debt $19.00M $9.000M $7.000M
YoY Change 111.11% -24.73%
Other Long-Term Liabilities $600.0K
YoY Change
Total Long-Term Liabilities $19.60M $9.000M $7.000M
YoY Change 117.78% -24.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.42M $45.80M $55.81M
Total Long-Term Liabilities $19.60M $9.000M $7.000M
Total Liabilities $75.67M $64.70M $73.03M
YoY Change 16.95% 11.17% 26.57%
SHAREHOLDERS EQUITY
Retained Earnings -$31.15M -$56.58M
YoY Change
Common Stock $290.3M $277.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $136.4M $122.8M
YoY Change
Treasury Stock Shares $27.07M $26.20M
Shareholders Equity $115.4M $96.00M $86.27M
YoY Change
Total Liabilities & Shareholders Equity $191.0M $160.8M $159.3M
YoY Change 18.81% 0.25% 1.53%

Cashflow Statement

Concept 2018 Q1 2017 Q1 2016 Q4
OPERATING ACTIVITIES
Net Income $7.367M $7.874M $6.225M
YoY Change -6.44% 93.94% 103.43%
Depreciation, Depletion And Amortization $580.0K $639.0K $880.0K
YoY Change -9.23% -47.62% -26.67%
Cash From Operating Activities $17.20M $4.880M $12.08M
YoY Change 252.52% -71.23% -3.67%
INVESTING ACTIVITIES
Capital Expenditures $2.363M $1.634M -$1.110M
YoY Change 44.61% -386.67% 32.14%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$2.363M -$1.630M -$1.110M
YoY Change 44.97% 185.96% 32.14%
FINANCING ACTIVITIES
Cash Dividend Paid $4.656M $4.023M
YoY Change 15.73%
Common Stock Issuance & Retirement, Net $3.967M $4.071M
YoY Change -2.55%
Debt Paid & Issued, Net $6.000M
YoY Change
Cash From Financing Activities -8.623M -5.890M -5.640M
YoY Change 46.4% -35.63% -52.72%
NET CHANGE
Cash From Operating Activities 17.20M 4.880M 12.08M
Cash From Investing Activities -2.363M -1.630M -1.110M
Cash From Financing Activities -8.623M -5.890M -5.640M
Net Change In Cash 6.217M -2.640M 5.330M
YoY Change -335.49% -136.46% -2417.39%
FREE CASH FLOW
Cash From Operating Activities $17.20M $4.880M $12.08M
Capital Expenditures $2.363M $1.634M -$1.110M
Free Cash Flow $14.84M $3.246M $13.19M
YoY Change 357.18% -81.48% -1.42%

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>
CY2018Q1 us-gaap Prior Period Reclassification Adjustment Description
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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;">Reclassifications </p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain prior period amounts in the consolidated financial statements, and notes thereto, have been reclassified to conform to current period presentation.</p> <p style="margin-top:0pt; clear:both;margin-bottom:0pt;text-indent:0%;font-size:9pt;">&nbsp;</p> <p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1</p></div>
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300000
CY2017Q1 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
400000
CY2018Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2017Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2018Q1 hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
370339
CY2017Q1 hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
990499
CY2018Q1 hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2355118
CY2017Q1 hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2433965
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
700000
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
700000
CY2018Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
37222000
CY2017Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
44972000
CY2018Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
17033000
CY2018Q1 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
6325000
CY2017Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
6207000
CY2018Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
11879000
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
9271000
CY2018Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2833000
CY2017Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3670000
CY2018Q1 hckt Accrued Share Based Compensation
AccruedShareBasedCompensation
870000
CY2017Q4 hckt Accrued Share Based Compensation
AccruedShareBasedCompensation
1890000
CY2018Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4762000
CY2017Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
5649000
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1975000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2263000
CY2017 us-gaap Restructuring Charges
RestructuringCharges
1300000
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2018Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2200000
CY2018Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
175000
CY2017Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
174000
CY2017Q4 us-gaap Noncurrent Assets
NoncurrentAssets
109946000
CY2018Q1 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
16400000
CY2017Q4 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
15100000
CY2017Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2017Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4600000
CY2017Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4700000
CY2017Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.34
CY2018Q1 us-gaap Noncurrent Assets
NoncurrentAssets
111984000
CY2018Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3000000
CY2017Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2900000
CY2017Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.26

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