CRA International Files Q2 2024 10-Q
Ticker: CRAI · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1053706
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: CRAI
TL;DR
CRAI Q2 2024 10-Q is in. Check financials for latest performance.
AI Summary
CRA International, Inc. filed its 10-Q for the period ending June 29, 2024. The company reported financial results for the second quarter of 2024, detailing its revenue, expenses, and net income. Specific financial figures and comparative data from previous periods are included in the filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for CRA International, enabling them to assess the company's health and make informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Players & Entities
- CRA INTERNATIONAL, INC. (company) — Filer of the 10-Q
- 20240629 (date) — End of the reporting period
- 20240801 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 29, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed with the SEC on August 1, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0001053706.
What is the fiscal year end for CRA International, Inc.?
The fiscal year end for CRA International, Inc. is December 28.
What is the business address of CRA International, Inc.?
The business address of CRA International, Inc. is 200 Clarendon Street, T-9, Boston, MA 02116.
Filing Stats: 4,563 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-08-01 08:17:36
Filing Documents
- crai-20240629.htm (10-Q) — 747KB
- exh101-conformedfor10xqxbo.htm (EX-10.1) — 85KB
- craiq2-202410xqexx311.htm (EX-31.1) — 10KB
- craiq2-202410xqexx312.htm (EX-31.2) — 10KB
- craiq2-202410xqexx321.htm (EX-32.1) — 5KB
- craiq2-202410xqexx322.htm (EX-32.2) — 5KB
- 0001053706-24-000020.txt ( ) — 4323KB
- crai-20240629.xsd (EX-101.SCH) — 31KB
- crai-20240629_cal.xml (EX-101.CAL) — 55KB
- crai-20240629_def.xml (EX-101.DEF) — 65KB
- crai-20240629_lab.xml (EX-101.LAB) — 428KB
- crai-20240629_pre.xml (EX-101.PRE) — 266KB
- crai-20240629_htm.xml (XML) — 510KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1.
Financial Statements
Financial Statements 3 Condensed Consolidated Statements of Operations (unaudited)—Fiscal Quarters and Fiscal Year-to-Date Periods Ended June 29, 2024 and July 1, 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited)—Fiscal Quarters and Fiscal Year-to-Date Periods Ended June 29, 2024 and July 1, 2023 4 Condensed Consolidated Balance Sheets (unaudited)—June 29, 2024 and December 30, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited)—Fiscal Year-to-Date Periods Ended June 29, 2024 and July 1, 2023 6 Condensed Consolidated Statements of Shareholders' Equity (unaudited)—Fiscal Year-to-Date Periods Ended June 29, 2024 and July 1, 2023 7 Notes to Condensed Consolidated Financial Statements (unaudited) 9 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 ITEM 4.
Controls and Procedures
Controls and Procedures 23
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1.
Legal Proceedings
Legal Proceedings 24 ITEM 1A.
Risk Factors
Risk Factors 24 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 ITEM 3. Defaults Upon Senior Securities 25 ITEM 4. Mine Safety Disclosures 25 ITEM 5. Other Information 25 ITEM 6. Exhibits 25
Signatures
Signatures 26 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
ITEM 1. Financial Statements CRA INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) Fiscal Quarter Ended Fiscal Year-to-Date Period Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Revenues $ 171,442 $ 161,965 $ 343,230 $ 314,810 Costs of services (exclusive of depreciation and amortization) 125,327 113,333 244,206 221,170 Selling, general and administrative expenses 32,016 29,846 62,514 58,218 Depreciation and amortization 2,811 2,872 5,603 5,815 Income from operations 11,288 15,914 30,907 29,607 Interest expense, net ( 1,483 ) ( 1,616 ) ( 1,948 ) ( 2,187 ) Foreign currency losses, net ( 191 ) ( 686 ) ( 333 ) ( 1,214 ) Income before provision for income taxes 9,614 13,612 28,626 26,206 Provision for income taxes 3,076 4,104 8,397 7,780 Net income $ 6,538 $ 9,508 $ 20,229 $ 18,426 Net income per share: Basic $ 0.96 $ 1.36 $ 2.93 $ 2.61 Diluted $ 0.94 $ 1.34 $ 2.90 $ 2.56 Weighted average number of shares outstanding: Basic 6,834 6,983 6,880 7,051 Diluted 6,911 7,080 6,961 7,166 See accompanying notes to the condensed consolidated financial statements. 3 Table of Contents CRA INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (in thousands) Fiscal Quarter Ended Fiscal Year-to-Date Period Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income $ 6,538 $ 9,508 $ 20,229 $ 18,426 Other comprehensive income (loss) Foreign currency translation adjustments, net of tax ( 315 ) 1,074 ( 1,420 ) 2,126 Comprehensive income $ 6,223 $ 10,582 $ 18,809 $ 20,552 See accompanying notes to the condensed consolidated financial statements. 4 Table of Contents CRA INTERNATIONAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share data) June 29, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 24,649 $ 45,586 Accounts receivable, net of allowances of $