Key Developments For Perficient Inc
Perficient Inc (PRFT.O) (Nasdaq)
Perficient, Inc. Issues Q4 2009 Revenue Outlook In Line With Analysts' Estimates; Reiterates FY 2009 Outlook
Perficient, Inc. announced that for fourth quarter of 2009, it expects services and software revenue, including reimbursed expenses, to be in the range of $43.4-$46.7 million, comprised of $41.0-$43.3 million of revenue from services including reimbursed expenses and $2.4-$3.4 million of revenue from sales of software. It reiterated fiscal 2009 outlook and expects revenue to a range of $180-$200 million and cash earnings per share (EPS) to a range of $0.30-$0.40. According to Reuters Estimates, analysts were expecting the Company to report revenues of $45.3 million for fourth quarter of 2009 and revenues of $185 million and EPS of $0.34 for fiscal 2009.
Perficient, Inc. Issues Q3 2009 Revenue Guidance Below Analysts' Estimates; Reiterates FY 2009 Guidance; Announces Management Changes
Perficient, Inc. announced that for third quarter of 2009, it expects services and software revenue including reimbursed expenses, to be in the range of $41.9-$44.7 million, comprised of $40.0-$42.3 million of revenue from services including reimbursed expenses and $1.9-$2.4 million of revenue from sales of software. The Company reiterated fiscal 2009 revenue guidance range of $180-$200 million and adjusted cash earnings per share (EPS) guidance range to $0.30 to $0.40 to reflect the current economic environment and to align more closely with analysts' consensus estimate. According to Reuters Estimates, analysts were expecting the Company to report revenues of $46.2 million for third quarter of 2009; revenues of $190 million and EPS of $0.38 for fiscal 2009. The Company also announced that in accordance with the previously disclosed succession plan detailed in the Company's Current Report on Form 8-K dated March 12, 2009,current President and COO Jeffrey Davis will become Chief Executive Officer (CEO) and President effective September 1, 2009. Current Chairman and CEO Jack McDonald will remain Chairman of the Board.
Perficient, Inc. Increases Stock Repurchase Plan
Perficient, Inc. announced that its Board of Directors have authorized a program to repurchase an additional $10 million of the Company`s common stock. This authorization is in addition to the $20 million authorization approved by the Board of Directors in 2008. To date the Company has repurchased 2.9 million shares at a cost of $14.7 million. The Board-approved stock repurchase program runs through June 30, 2011.
Perficient, Inc. Issues Q2 2009 Revenue Guidance Below Analysts' Estimates
Perficient, Inc. announced that for second quarter 2009 it expects services and software revenue, including reimbursed expenses, to be in the range of $43.0 million to $46.0 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $49.6 million for second quarter 2009.
Perficient, Inc. Issues Q1 2009 Revenue Guidance Above Analysts' Estimates
Perficient, Inc. announced that for first quarter of 2009, it expects software and hardware revenues, including reimbursed expenses, to be in the range of $48.7 million to $51.6 million, comprised of $46.9 million to $48.8 million of revenue from services, including reimbursed expenses, and $1.8 million to $2.8 million of revenue from sales of software and hardware. According to Reuters Estimates, analysts were expecting the Company to report revenue of $46.0 million for the same period.
