$HCKT
Hackett Group Inc

2019 Q2 Form 10-Q Financial Statement

#000156459019029892 Filed on August 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $73.52M $74.53M
YoY Change -1.35% 10.04%
Cost Of Revenue $47.52M $49.75M
YoY Change -4.48% 1.41%
Gross Profit $26.00M $24.78M
YoY Change 4.92% 32.73%
Gross Profit Margin 35.36% 33.25%
Selling, General & Admin $16.20M $15.37M
YoY Change 5.4% -8.28%
% of Gross Profit 62.31% 62.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.080M $1.210M
YoY Change -10.74% 6.14%
% of Gross Profit 4.15% 4.88%
Operating Expenses $16.19M $15.37M
YoY Change 5.34% -8.28%
Operating Profit $9.759M $14.24M
YoY Change -31.48% 137.38%
Interest Expense $105.0K $178.0K
YoY Change -41.01% 40.16%
% of Operating Profit 1.08% 1.25%
Other Income/Expense, Net
YoY Change
Pretax Income $9.654M $14.07M
YoY Change -31.36% 121.95%
Income Tax $2.600M $2.393M
% Of Pretax Income 26.93% 17.01%
Net Earnings $6.989M $11.52M
YoY Change -39.34% 142.55%
Net Earnings / Revenue 9.51% 15.46%
Basic Earnings Per Share $0.23 $0.39
Diluted Earnings Per Share $0.22 $0.36
COMMON SHARES
Basic Shares Outstanding 29.82M 29.43M
Diluted Shares Outstanding 32.37M 32.24M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.70M $13.30M
YoY Change 25.56% -7.64%
Cash & Equivalents $16.68M $13.30M
Short-Term Investments
Other Short-Term Assets $4.100M $3.300M
YoY Change 24.24% 3.13%
Inventory
Prepaid Expenses
Receivables $54.50M $56.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $75.32M $73.30M
YoY Change 2.75% 7.79%
LONG-TERM ASSETS
Property, Plant & Equipment $21.11M $22.80M
YoY Change -7.4% 38.18%
Goodwill $84.21M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.116M $5.000M
YoY Change -37.68% -3.85%
Total Long-Term Assets $116.1M $112.6M
YoY Change 3.07% 5.33%
TOTAL ASSETS
Total Short-Term Assets $75.32M $73.30M
Total Long-Term Assets $116.1M $112.6M
Total Assets $191.4M $185.9M
YoY Change 2.94% 6.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.767M $8.400M
YoY Change -19.44% 2.44%
Accrued Expenses $16.70M $16.90M
YoY Change -1.18% -11.52%
Deferred Revenue $10.50M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.29M $42.50M
YoY Change -0.5% -5.97%
LONG-TERM LIABILITIES
Long-Term Debt $4.500M $13.50M
YoY Change -66.67% -32.5%
Other Long-Term Liabilities $5.200M $200.0K
YoY Change 2500.0% -97.14%
Total Long-Term Liabilities $9.700M $13.70M
YoY Change -29.2% -49.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.29M $42.50M
Total Long-Term Liabilities $9.700M $13.70M
Total Liabilities $60.17M $64.30M
YoY Change -6.43% -22.6%
SHAREHOLDERS EQUITY
Retained Earnings -$17.13M
YoY Change
Common Stock $299.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $139.7M
YoY Change
Treasury Stock Shares $27.28M
Shareholders Equity $131.2M $121.6M
YoY Change
Total Liabilities & Shareholders Equity $191.4M $185.9M
YoY Change 2.94% 6.27%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $6.989M $11.52M
YoY Change -39.34% 142.55%
Depreciation, Depletion And Amortization $1.080M $1.210M
YoY Change -10.74% 6.14%
Cash From Operating Activities $11.27M -$2.370M
YoY Change -575.53% -157.66%
INVESTING ACTIVITIES
Capital Expenditures -$1.310M -$2.800M
YoY Change -53.21% 112.12%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.310M -$2.800M
YoY Change -53.21% -72.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.030M -5.300M
YoY Change -23.96% -248.46%
NET CHANGE
Cash From Operating Activities 11.27M -2.370M
Cash From Investing Activities -1.310M -2.800M
Cash From Financing Activities -4.030M -5.300M
Net Change In Cash 5.930M -10.47M
YoY Change -156.64% 296.59%
FREE CASH FLOW
Cash From Operating Activities $11.27M -$2.370M
Capital Expenditures -$1.310M -$2.800M
Free Cash Flow $12.58M $430.0K
YoY Change 2825.58% -92.08%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity File Number
EntityFileNumber
333-48123
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
650750100
dei Entity Address Address Line1
EntityAddressAddressLine1
1001 Brickell Bay Drive
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 3000
dei Entity Address City Or Town
EntityAddressCityOrTown
Miami
dei Entity Address State Or Province
EntityAddressStateOrProvince
Florida
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33131
dei City Area Code
CityAreaCode
305
dei Local Phone Number
LocalPhoneNumber
375-8005
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CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
17512000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
16682000
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
13270000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1578000
us-gaap Interest Paid Net
InterestPaidNet
149000
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-2372000
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1616000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
2394000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
7094000
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
657000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
129747000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
405000
CY2019Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1440000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
1961000
CY2019Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5789000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
107275000
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-3003000
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
964000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
3557000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
7367000
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1152000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
115384000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
205000
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
2264000
CY2018Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5396000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
121632000
us-gaap Use Of Estimates
UseOfEstimates
<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;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9800000
CY2018Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1200000
CY2017Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1400000
CY2019Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
300000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
500000
CY2018Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
300000
CY2019Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2018Q2 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9000000
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9000000
CY2019Q2 hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
222438
CY2018Q2 hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
469702
hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
230742
hckt Dilutive Restricted Stock Units And Common Stock Subject To Vesting Requirements
DilutiveRestrictedStockUnitsAndCommonStockSubjectToVestingRequirements
420020
CY2019Q2 hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2328797
CY2018Q2 hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2335458
hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2350656
hckt Dilutive Stock Options And Stock Appreciation Rights
DilutiveStockOptionsAndStockAppreciationRights
2345288
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13000
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
843
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
864
CY2019Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
32686000
CY2018Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
35794000
CY2019Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
22853000
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
20454000
CY2019Q2 hckt Accrued Compensation And Benefits
AccruedCompensationAndBenefits
7609000
CY2018Q4 hckt Accrued Compensation And Benefits
AccruedCompensationAndBenefits
5012000
CY2019Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
950000
CY2018Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
5064000
CY2019Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
5788000
CY2018Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
5407000
CY2019Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
1251000
CY2018Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
2559000
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10498000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8259000
CY2019Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2222000
CY2018Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3077000
CY2019Q2 hckt Accrued Share Based Compensation
AccruedShareBasedCompensation
538000
CY2018Q4 hckt Accrued Share Based Compensation
AccruedShareBasedCompensation
872000
CY2019Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
2535000
CY2018Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1769000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1723000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2479000
us-gaap Operating Lease Cost
OperatingLeaseCost
1398000
us-gaap Lease Cost
LeaseCost
1398000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
us-gaap Operating Lease Payments
OperatingLeasePayments
1400000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1259000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2057000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1613000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1371000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
492000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1705000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8497000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
884000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7613000
us-gaap Lessee Operating Lease Lease Not Yet Commenced Description
LesseeOperatingLeaseLeaseNotYetCommencedDescription
As of June 28, 2019, the Company does not have any additional operating leases that have not yet commenced that create significant rights and obligations for the Company.
CY2019Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
3900000
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
142200000
CY2019Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
825000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
124000
CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
14000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2400000
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.18
CY2019Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2019-07-10
CY2019Q2 us-gaap Noncurrent Assets
NoncurrentAssets
116054000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
107661000
CY2019Q2 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
14200000
CY2018Q4 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
14500000
CY2019Q2 hckt Operating Lease Right Of Use Assets Included In Foreign Assets
OperatingLeaseRightOfUseAssetsIncludedInForeignAssets
4800000

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