Key Developments For The Hackett Group Inc
The Hackett Group Inc (HCKT.O) (Consolidated Issue listed on NASDAQ Global Market)
The Hackett Group, Inc. Issues Q4 2009 Outlook Below Analysts' Estimates; Announces Acquisition Of Archstone Consulting, LLC
The Hackett Group, Inc. announced that for the fourth quarter of 2009, it expects total revenue to be in the range of $34.0 to $36.0 million and pro forma diluted earnings (loss) per share to be in the range of ($0.01) to $0.03. The holiday season will result in an approximate 12% decrease in available billing days which will negatively impact fourth quarter results on a sequential basis. The acquisition of Archstone is expected to add $4.0 to $5.0 million in revenue and be ($0.02) dilutive to pro forma earnings per share in the fourth quarter. According to Reuters Estimates, analysts on an average were expecting the Company to report earnings per share (EPS) of $0.05 on revenue of $36.3 million for the fourth quarter of 2009. The Company also announced the acquisition of Archstone Consulting, LLC, (Archstone) a strategy, operations and CFO advisory consultancy based in Stamford, Connecticut. Under the terms of the Archstone acquisition agreement, Hackett will issue 5.2 million shares, of which 1.6 million shares are subject to an earn-out based on revenue achieved in 2010. Additionally, Hackett will issue approximately 950 thousand shares to Archstone executives that will vest over a two to five year period.
The Hackett Group, Inc. Announces Strategic Alliance with South Africa`s IQ Business Group
The Hackett Group, Inc. announced a strategic alliance with South Africa`s IQ Business Group. The alliance will extend Hackett`s global reach to cover all of Sub-Saharan Africa, and enhance its ability to offer benchmarking and business advisory programs to organizations in these markets.
The Hackett Group, Inc. Issues Q3 2009 Guidance In Line With Analysts' Estimates
The Hackett Group, Inc. announced that based on the current economic outlook, it estimates total revenue for the third quarter of 2009 to be in the range of $34.0-$36.0 million and estimates pro forma diluted earnings per share (EPS) to be in the range of $0.02-$0.04. According to Reuters Estimates, analysts were expecting the Company to report revenue of $35.3 million and EPS of $0.04 for the third quarter of 2009.
Wipro Ltd., Oracle Corporation And The Hackett Group, Inc. Collaborate To Launch HR Platform Solutions
Wipro Technologies, the global IT services business of Wipro Ltd. announced that its Business Process Outsourcing division, Wipro BPO has partnered with Oracle Corporation for HR platform solutions. Wipro has also selected The Hackett Group, to provide empirical data, practices and performance insights on the development of its bundled solution platform. The solution simPlify, allows employers to reduce and control cost as it provides an opportunity to centralize and standardize processes while eliminating duplicative management structures. simPlify delivers this unique value combination by integrating performance insights and benchmarking metrics from Hackett with Oracle PeopleSoft HCM and Wipro's globally optimized HR delivery capability. The solution is delivered on a Software-as-a Service (SAAS) model allowing employers to pay for what they use, as well as reducing the complexity, time, and investment in technology implementation and maintenance. It provides clients with a scalable IT infrastructure that is offered as a multi-tenant model to achieve economies of scale and size.
The Hackett Group, Inc. Issues Q2 2009 Guidance Below Analysts' Estimates
The Hackett Group, Inc. announced that for second quarter of 2009, it expects total revenue to be in the range of $34.0-$36.0 million and pro forma diluted earnings per share (EPS) to be in the range of breakeven to $0.03. According to Reuters Estimates, analysts were expecting the Company to report revenue of $44.9 million and EPS of $0.06 for the same period.
