Brief: The Hackett Group Announces First Quarter 2020 Results

Hackett group

05/05/2020 22:52

May 5 (Reuters) - Hackett Group Inc  HCKT.O :
    * THE HACKETT GROUP ANNOUNCES FIRST QUARTER 2020 RESULTS
    * Q1 PRO FORMA EARNINGS PER SHARE $0.24
    * Q1 GAAP EARNINGS PER SHARE $0.17
    * Q1 EARNINGS PER SHARE ESTIMATE $0.24 -- REFINITIV IBES
DATA
    * Q1 2020 NET REVENUE OF $65.2 MILLION, UP 5%
    * HACKETT GROUP - CURRENT ESTIMATES SUGGEST SEQUENTIAL
REVENUE
DECLINES OF 15% TO 20% FROM Q1 TO Q2
    * HACKETT GROUP - GIVEN DECISION TO MAINTAIN CURRENT
STAFFING
LEVELS THROUGH BALANCE OF Q2, EXPECT TO FOREGO SIGNIFICANT LEVEL
OF PROFITABILITY
    * DO NOT EXPECT CASH BALANCES NET OF ANY OUTSTANDING DEBT TO
DECREASE DURING Q2
    * INTEND TO DRAW DOWN A PORTION OF OUR CREDIT FACILITY
DURING Q2
    * BOARD DEFERRED DIVIDEND DECLARATION DECISION UNTIL CLOSER
TO
QUARTER END

Source text for Eikon:  ID:nBwZsgYha 
Further company coverage:  HCKT.O 

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