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CRA INTERNATIONAL - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

CRA INTERNATIONAL INC. (ISIN: US12618T1051, WKN: A0EQWX) Kursdatum: 21.07.2017 Kurs: 35,410 USD
Beschreibung Daten
Symbol CRAI
Marktkapitalisierung 325.594.944,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Finanzdienstleister
Rohdaten nach US GAAP in Millionen USD
Aktiensplits
Internet
Letztes Bilanz Update 15.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
132,95 15,94 0,00% 2,43 67,50 42,66 1,07 1,54

Firmenbeschreibung

 

 

16.   Quarterly Financial Data (Unaudited)

 

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April 4,2015

 

 

 

 

 

 

 

July 4,2015

 

 

 

 

 

 

 

October 3,2015

 

 

 

 

 

 

 

January 2,2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

$

 

78,039

 

 

 

 

 

 

 

$

 

76,535

 

 

 

 

 

 

 

$

 

76,525

 

 

 

 

 

 

 

$

 

72,460

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

24,220

 

 

 

 

 

 

 

 

 

25,860

 

 

 

 

 

 

 

 

 

24,496

 

 

 

 

 

 

 

 

 

21,333

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

 

 

 

 

 

 

 

 

4,476

 

 

 

 

 

 

 

 

 

5,648

 

 

 

 

 

 

 

 

 

4,581

 

 

 

 

 

 

 

 

 

(2,310

 

 

 

)

 

 

 

 

 

Income (loss) before provision (benefit) for income taxes

 

 

 

 

 

 

 

 

 

4,631

 

 

 

 

 

 

 

 

 

5,391

 

 

 

 

 

 

 

 

 

4,346

 

 

 

 

 

 

 

 

 

(2,553

 

 

 

)

 

 

 

 

 

Net income (loss)

 

 

 

 

 

 

 

 

 

2,899

 

 

 

 

 

 

 

 

 

3,202

 

 

 

 

 

 

 

 

 

2,813

 

 

 

 

 

 

 

 

 

(2,589

 

 

 

)

 

 

 

 

 

Net (income) loss attributable to noncontrolling interest, net of tax

 

 

 

 

 

 

 

 

 

(120

 

 

 

)

 

 

 

 

 

123

 

 

 

 

 

 

 

 

 

47

 

 

 

 

 

 

 

 

 

1,282

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to CRA International, Inc. 

 

 

 

 

 

 

 

$

 

2,779

 

 

 

 

 

 

 

$

 

3,325

 

 

 

 

 

 

 

$

 

2,860

 

 

 

 

 

 

 

$

 

(1,307

 

 

 

)

 

 

 

 

 

Basic net income (loss) per share

 

 

 

 

 

 

 

$

 

0.30

 

 

 

 

 

 

 

$

 

0.37

 

 

 

 

 

 

 

$

 

0.32

 

 

 

 

 

 

 

$

 

(0.15

 

 

 

)

 

 

 

 

 

Diluted net income (loss) per share

 

 

 

 

 

 

 

$

 

0.30

 

 

 

 

 

 

 

$

 

0.36

 

 

 

 

 

 

 

$

 

0.31

 

 

 

 

 

 

 

$

 

(0.15

 

 

 

)

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

9,190

 

 

 

 

 

 

 

 

 

9,034

 

 

 

 

 

 

 

 

 

8,940

 

 

 

 

 

 

 

 

 

8,876

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

9,403

 

 

 

 

 

 

 

 

 

9,253

 

 

 

 

 

 

 

 

 

9,025

 

 

 

 

 

 

 

 

 

8,876

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 29,2014

 

 

 

 

 

 

 

June 28,2014

 

 

 

 

 

 

 

September 27,2014

 

 

 

 

 

 

 

January 3,2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

 

 

 

$

 

76,245 

 

 

 

 

 

 

 

$

 

78,184 

 

 

 

 

 

 

 

$

 

73,483 

 

 

 

 

 

 

 

$

 

78,459 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

24,379 

 

 

 

 

 

 

 

 

 

25,515 

 

 

 

 

 

 

 

 

 

24,066 

 

 

 

 

 

 

 

 

 

25,598 

 

 

 

 

 

 

 

 

 

Income from operations

 

 

 

 

 

 

 

 

 

 

Firmenstrategie

 

 

Principles of Consolidation

 

 

        The consolidated financial statements include the accounts of CRA and its wholly owned subsidiaries. In addition, as more fully explained below, the consolidated financial statements include CRA's interest in NeuCo, Inc. ("NeuCo"). All significant intercompany transactions and accounts have been eliminated in consolidation.

 

 

RevenueRecognitionPolicyTextBlock

 

 

Revenue Recognition

        CRA derives substantially all of its revenues from the performance of professional services. The contracts that CRA enters into and operates under specify whether the engagement will be billed on a time-and-materials or a fixed-price basis. These engagements generally last three to six months, although some of CRA's engagements can be much longer in duration.

        CRA recognizes substantially all of its revenues under written service contracts with its clients when the fee is fixed or determinable, as the services are provided, and only in those situations where collection from the client is reasonably assured and sufficient contractual documentation has been obtained. In certain cases CRA provides services to its clients without sufficient contractual documentation, or fees are tied to performance-based criteria, which require CRA to defer revenue in accordance with U.S. GAAP. In these cases, these amounts are fully reserved until all criteria for recognizing revenue are met.

        Most of CRA's revenue is derived from time-and-materials service contracts. Revenues from time-and-materials service contracts are recognized as services are provided based upon hours worked and contractually agreed-upon hourly rates, as well as indirect fees based upon hours worked.

        Revenues from the majority of CRA's fixed-price engagements are recognized on a proportional performance method based on the ratio of costs incurred, substantially all of which are labor-related, to the total estimated project costs. CRA derived approximately 14%, 15%, and 13% of consolidated revenues from fixed-price engagements in fiscal 2015, fiscal 2014, and fiscal 2013, respectively. In general, project costs are classified as costs of services and are based on the direct salary of the consultants on the engagement plus all direct expenses incurred to complete the engagement, including any amounts billed to CRA by non-employee experts. The proportional performance method is used for fixed-price contracts because reasonably dependable estimates of the revenues and costs applicable to various stages of a contract can be made, based on historical experience and the terms set forth in the contract, and are indicative of the level of benefit provided to CRA's clients. Fixed-price contracts generally convert to time-and-materials contracts in the event the contract terminates. CRA's management maintains contact with project managers to discuss the status of the projects and, for fixed-price engagements, management is updated on the budgeted costs and resources required to complete the project. These budgets are then used to calculate revenue recognition and to estimate the anticipated income or loss on the project. Occasionally, CRA has been required to commit unanticipated additional resources to complete projects, which has resulted in lower than anticipated income or losses on those contracts. CRA may experience similar situations in the future. Provisions for estimated losses on contracts are made during the period in which such losses become probable and can be reasonably estimated. To date, such losses have not been significant.

        Revenues also include reimbursable expenses, which include reimbursements for travel and other out-of-pocket expenses, outside consultants, and other reimbursable expenses. Reimbursable expenses are as follows (in thousands):

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

Year Ended

 
 

 

 
 

Year Ended

 
 

 

 
 

Year Ended

 
 

 

 
 

 

 
 

 

 
 

January 2,
2016
(52 weeks)

 
 

 

 
 

January 3,
2015
(53 weeks)

 
 

 

 
 

December 28,
2013
(52 weeks)

 
 

 

 
 

Reimbursable expenses

 
 

 

 
 

$

 
33,548  
 

 

 
 

$

 
36,676  
 

 

 
 

$

 
37,320  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 

        CRA's revenues include projects secured by its non-employee experts as well as projects secured by its employees. CRA recognizes all project revenue on a gross basis based on the consideration of the criteria set forth in Accounting Standards Codification ("ASC") Topic 605-45, Principal Agent Considerations.

        CRA maintains accounts receivable allowances for estimated losses and disputed amounts resulting from clients' failure to make required payments. CRA bases its estimates on historical collection experience, current trends, and credit policy. In determining these estimates, CRA examines historical write-offs of its receivables and reviews client accounts to identify any specific customer collection issues.

        If the financial condition of CRA's customers were to deteriorate or disputes were to arise regarding the services provided, resulting in an impairment of their ability or intent to make payment, additional allowances may be required.

        Unbilled services represent revenue recognized by CRA for services performed but not yet billed to the client. Deferred revenue represents amounts billed or collected in advance of services rendered.

        CRA collects goods and services and value added taxes from customers and records these amounts on a net basis, which is within the scope of ASC Topic 605-45, Principal Agent Considerations.

 

 

SegmentReportingDisclosureTextBlock

 

 

12.   Business Segment and Geographic Information

        CRA operates in two business segments, which are consulting services and NeuCo. NeuCo's financial information is included below and is immaterial to the overall consolidated financial statements. Revenue and long-lived assets by country, based on the physical location of the operation to which the revenues or the assets relate, are as follows (in thousands):

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

Fiscal Year

 
 

 

 
 

Fiscal Year

 
 

 

 
 

Fiscal Year

 
 

 

 
 

 

 
 

 

 
 

2015
(52 weeks)

 
 

 

 
 

2014
(53 weeks)

 
 

 

 
 

2013
(52 weeks)

 
 

 

 
 

Revenue:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

United States

 
 

 

 
 

$

 
243,261  
 

 

 
 

$

 
238,466  
 

 

 
 

$

 
216,815  
 

 

 
 

United Kingdom

 
 

 

 
 

 

 
44,248  
 

 

 
 

 

 
49,127  
 

 

 
 

 

 
46,987  
 

 

 
 

Other

 
 

 

 
 

 

 
16,050  
 

 

 
 

 

 
18,778  
 

 

 
 

 

 
14,630  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Total foreign

 
 

 

 
 

 

 
60,298  
 

 

 
 

 

 
67,905  
 

 

 
 

 

 
61,617  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

$

 
303,559  
 

 

 
 

$

 
306,371  
 

 

 
 

$

 
278,432  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 

 

                                                                                                                                                                                    

 

EarningsPerSharePolicyTextBlock

 

 

Net Income (Loss) Per Share

        CRA computes basic net income or loss per share by dividing net income or loss by the weighted-average number of shares outstanding. CRA computes diluted net income or loss per share by dividing net income or loss by the sum of the weighted-average number of shares determined from the basic earnings per common share computation and the number of common stock equivalents that would have a dilutive effect. To the extent that there is a net loss, CRA assumes all common stock equivalents to be anti-dilutive, and they are excluded from diluted weighted-average shares outstanding. CRA determines common stock equivalent shares outstanding in accordance with the treasury stock method. In those years in which CRA has both net income and participating securities, CRA computes basic net income per share utilizing the two-class method earnings allocation formula to determine earnings per share for each class of stock according to dividends and participation rights in undistributed earnings. Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding.

 

 

 

 

 
 

 

 
 

January 2,
2016

 
 

 

 
 

January 3,
2015

 
 

 

 
 

Long-lived assets (property and equipment, net):

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

United States

 
 

 

 
 

$

 
29,877  
 

 

 
 

$

 
12,753  
 

 

 
 

United Kingdom

 
 

 

 
 

 

 
1,075  
 

 

 
 

 

 
1,595  
 

 

 
 

Other

 
 

 

 
 

 

 
386  
 

 

 
 

 

 
348  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Total foreign

 
 

 

 
 

 

 
1,461  
 

 

 
 

 

 
1,943  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

$

 
31,338  
 

 

 
 

$

 
14,696  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​