The Hackett Group, Inc. (HCKT) has reported a 53.51 percent jump in profit for the quarter ended Dec. 30, 2016. The company has earned $6.22 million, or $0.19 a share in the quarter, compared with $4.06 million, or $0.12 a share for the same period last year.
Revenue during the quarter grew 5.57 percent to $70.05 million from $66.35 million in the previous year period. Gross margin for the quarter contracted 30 basis points over the previous year period to 35.34 percent. Total expenses were 86.20 percent of quarterly revenues, down from 90.51 percent for the same period last year. This has led to an improvement of 431 basis points in operating margin to 13.80 percent.
Operating income for the quarter was $9.67 million, compared with $6.30 million in the previous year period.
"We had another strong quarter and an outstanding year," stated Ted A. Fernandez, chairman & chief executive officer of The Hackett Group, Inc. "Additionally, today we announced the introduction of our second training and certification program which demonstrates our ability to expand our "IP as a Service" offerings which is providing new ways to leverage our valuable IP, serve our clients strategically and grow our business."
For the first-quarter, The Hackett Group, Inc. expects revenue to be in the range of $72 million to $74 million. The company projects pro forma diluted earnings per share to be in the range of $0.22 to $0.24.
Working capital drops significantly
The Hackett Group, Inc. has witnessed a decline in the working capital over the last year. It stood at $13 million as at Dec. 30, 2016, down 25.19 percent or $4.38 million from $17.37 million on Jan. 01, 2016. Current ratio was at 1.23 as on Dec. 30, 2016, down from 1.35 on Jan. 01, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
