CRA International Files Q3 2024 10-Q
Ticker: CRAI · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1053706
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
Related Tickers: CRAI
TL;DR
CRAI 10-Q filed: Q3 financials out, check for performance details.
AI Summary
CRA International, Inc. filed its 10-Q for the period ending September 28, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in its consulting services.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of CRA International, influencing investment decisions and market perception.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and operational information.
Key Players & Entities
- CRA INTERNATIONAL, INC. (company) — Filer
- 20240928 (date) — Period of Report
- 20241031 (date) — Filed as of Date
- 6174253000 (dollar_amount) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period of report ending September 28, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 31, 2024.
What is the company's primary business address?
The company's business address is 200 Clarendon Street, T-9, Boston, MA 02116.
What is the fiscal year end for CRA International, Inc.?
The fiscal year end for CRA International, Inc. is December 28.
What was the previous company name and when did the name change occur?
The former company name was CHARLES RIVER ASSOCIATES INC, and the date of name change was January 26, 1998.
Filing Stats: 4,561 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-10-31 08:15:33
Filing Documents
- crai-20240928.htm (10-Q) — 804KB
- exh101-fifthamendmenttolea.htm (EX-10.1) — 126KB
- craiq3-202410xqexx311.htm (EX-31.1) — 10KB
- craiq3-202410xqexx312.htm (EX-31.2) — 10KB
- craiq3-202410xqexx321.htm (EX-32.1) — 5KB
- craiq3-202410xqexx322.htm (EX-32.2) — 5KB
- image_0.jpg (GRAPHIC) — 204KB
- image_1.jpg (GRAPHIC) — 188KB
- image_2.jpg (GRAPHIC) — 196KB
- 0001053706-24-000026.txt ( ) — 5298KB
- crai-20240928.xsd (EX-101.SCH) — 31KB
- crai-20240928_cal.xml (EX-101.CAL) — 55KB
- crai-20240928_def.xml (EX-101.DEF) — 62KB
- crai-20240928_lab.xml (EX-101.LAB) — 426KB
- crai-20240928_pre.xml (EX-101.PRE) — 265KB
- crai-20240928_htm.xml (XML) — 540KB
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 September 28, 2024 and September 30, 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited)—Fiscal Quarters and Fiscal Year-to-Date Periods Ended September 28, 2024 and September 30, 2023 4 Condensed Consolidated Balance Sheets (unaudited)—September 28, 2024 and December 30, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited)—Fiscal Year-to-Date Periods Ended September 28, 2024 and September 30, 2023 6 Condensed Consolidated Statements of Shareholders' Equity (unaudited)—Fiscal Year-to-Date Periods Ended September 28, 2024 and September 30, 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 26
Signatures
Signatures 27 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 September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenues $ 167,748 $ 147,553 $ 510,979 $ 462,363 Costs of services (exclusive of depreciation and amortization) 115,188 105,894 359,394 327,064 Selling, general and administrative expenses 31,269 27,919 93,784 86,137 Depreciation and amortization 2,900 2,947 8,503 8,762 Income from operations 18,391 10,793 49,298 40,400 Interest expense, net ( 1,457 ) ( 1,025 ) ( 3,405 ) ( 3,212 ) Foreign currency gains (losses), net ( 904 ) 755 ( 1,236 ) ( 459 ) Income before provision for income taxes 16,030 10,523 44,657 36,729 Provision for income taxes 4,593 1,927 12,991 9,707 Net income $ 11,437 $ 8,596 $ 31,666 $ 27,022 Net income per share: Basic $ 1.68 $ 1.22 $ 4.62 $ 3.83 Diluted $ 1.67 $ 1.21 $ 4.57 $ 3.78 Weighted average number of shares outstanding: Basic 6,760 6,977 6,840 7,026 Diluted 6,843 7,083 6,922 7,138 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 September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net income $ 11,437 $ 8,596 $ 31,666 $ 27,022 Other comprehensive income (loss) Foreign currency translation adjustments, net of tax 2,895 ( 1,755 ) 1,475 371 Comprehensive income $ 14,332 $ 6,841 $ 33,141 $ 27,393 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) September 28, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 24,481