Hackett Q2 2020 Earnings Report
Key Takeaways
The Hackett Group reported a net revenue of $52.6 million for Q2 2020, a decrease of 23% compared to the same period last year. GAAP diluted loss per share was $0.13, compared to earnings per share of $0.22 in the prior year, which included a $5.0 million restructuring charge. Pro forma diluted earnings per share were $0.06, compared to $0.28 in the prior year.
Q2 2020 net revenue was $52.6 million and pro forma EPS was $0.06.
GAAP loss per share was $0.13, compared to EPS of $0.22 in the prior year, impacted by a $5.0 million COVID-19 restructuring charge.
The company ended Q2 2020 with a cash balance of $37.4 million and no outstanding debt.
The Board of Directors declared a 9.5 cent quarterly dividend.
Hackett
Hackett
Forward Guidance
The Company’s current estimates suggest that net revenue for the third quarter of 2020 will be in the range of $52.0 million to $54.0 million. The Company estimates pro forma diluted earnings per share for the third quarter of 2020 to be in the range of $0.13 and $0.15.