GAAP net income increased 4.7% year over year to $43.6 million, or 7.4% of revenue, or $5.91 per diluted share, compared with $41.7 million, or 7.4% of revenue, or $5.45 per diluted share for the full year fiscal 2021. Revenue grew 4.4% year over year to $590.9 million with company-wide utilization of 75%. Non-GAAP net income, non-GAAP earnings per diluted share, and non-GAAP EBITDA would have been higher by $0.9 million, $0.12 per diluted share, and $1.1 million, respectively.ĬRA returned $2.7 million of capital to its shareholders, consisting of $2.7 million in dividend payments. On a constant currency basis relative to the fourth quarter of fiscal 2021, revenue, GAAP net income, and earnings per diluted share would have been higher by $4.4 million, $0.8 million, and $0.11 per diluted share, respectively. Net income, earnings per diluted share, and non-GAAP EBITDA were negatively impacted by a non-operating foreign currency loss of approximately $1.7 million related to net losses on foreign denominated transactions and the revaluation of working capital balances. Non-GAAP EBITDA decreased 4.0% to $14.6 million, or 10.1% of revenue, compared with $15.2 million, or 11.3% of revenue, in the fourth quarter of fiscal 2021. Net income increased 0.1% year over year to $8.7 million, or 6.0% of revenue, compared with $8.7 million, or 6.4% of revenue, in the fourth quarter of fiscal 2021 non-GAAP net income increased 0.7% year over year to $8.7 million, or 6.0% of revenue, compared with $8.7 million, or 6.4% of revenue, in the fourth quarter of fiscal 2021.Įarnings per diluted share increased 4.4% year over year to $1.19 non-GAAP earnings per diluted share increased 4.4% year over year to $1.19. Utilization was 74%, and quarter-end headcount increased 9.1% year over year. Revenue grew 7.6% year over year to $145.0 million. Highlights for Fourth-Quarter Fiscal 2022 Geographically, we saw balanced contributions from our North American and international operations, which grew fourth quarter revenue year over year by 8.2% and 5.4%, respectively." Leading the way with double-digit revenue growth were six practices: Auctions & Competitive Bidding, Finance, Financial Economics, Intellectual Property, Labor & Employment, and Risk, Investigations & Analytics. On a constant currency basis, revenue in the fourth quarter would have been higher by $4.4 million, or an additional 3.3% of year-over-year growth. Reported revenue increased 7.6% compared with the fourth quarter of fiscal 2021 to $145.0 million. "For the quarter, we continued to see broad-based strength across our portfolio. "CRA once again set financial highs as fiscal 2022 topped a record-setting fiscal 2021," said Paul Maleh, CRA’s President and Chief Executive Officer. Broad-based Contributions Drive Record Revenue and Profits in Fiscal 2022įourth Quarter Revenue Increases 7.6% Year Over Yearīoard Expands Share Repurchase Authorization by $20 MillionīOSTON, March 02, 2023-( BUSINESS WIRE)- Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.
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