10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-217946`
Period End Date	20110630
Filing Date	20110810
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	hckt-20110701.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 72 Cash Flow Statement 51

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$644.00K	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.88M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $644 and $1,486 at July 1, 2011 and December 31, 2010, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$37.04M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $644 and $1,486 at July 1, 2011 and December 31, 2010, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$31.58M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.32M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.06M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$60.24M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$61.97M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.24M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.82M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$2.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.96M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.10M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$2.33M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	20.34M	shares	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	18.84M	shares	Point-in-time
Goodwill, net	`Goodwill`	$76.25M	USD	Point-in-time
Goodwill, net	`Goodwill`	$75.62M	USD	Point-in-time
Total assets	`Assets`	$150.80M	USD	Point-in-time
Total assets	`Assets`	$151.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.74M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$29.14M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$23.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.67M	USD	Point-in-time
Accrued expenses and other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$2.83M	USD	Point-in-time
Accrued expenses and other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$2.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.30M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.001 par value, 1,250,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value, 1,250,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 60,955,613 and 60,099,198 shares issued at July 1, 2011 and December 31, 2010, respectively	`CommonStockValue`	$60.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 60,955,613 and 60,099,198 shares issued at July 1, 2011 and December 31, 2010, respectively	`CommonStockValue`	$61.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$311.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$308.60M	USD	Point-in-time
Treasury stock, at cost, 20,341,437 and 18,838,310 shares at July 1, 2011 and December 31, 2010, respectively	`TreasuryStockValue`	$71.53M	USD	Point-in-time
Treasury stock, at cost, 20,341,437 and 18,838,310 shares at July 1, 2011 and December 31, 2010, respectively	`TreasuryStockValue`	$65.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-124.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.24M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$118.37M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$113.24M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$150.80M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$151.67M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$99.34M	USD	2 Qtrs
Revenue before reimbursements	`SalesRevenueServicesNet`	$47.97M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$89.82M	USD	2 Qtrs
Revenue before reimbursements	`SalesRevenueServicesNet`	$52.38M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$10.60M	USD	2 Qtrs
Reimbursements	`ReimbursementRevenue`	$12.33M	USD	2 Qtrs
Reimbursements	`ReimbursementRevenue`	$6.43M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.72M	USD	1 Quarter
Total revenue	`Revenues`	$53.69M	USD	1 Quarter
Total revenue	`Revenues`	$58.81M	USD	1 Quarter
Total revenue	`Revenues`	$100.41M	USD	2 Qtrs
Total revenue	`Revenues`	$111.67M	USD	2 Qtrs
Personnel costs before reimbursable expenses (includes $812 and $593 and $1,564 and $1,208 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`CostOfServices`	$32.81M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $812 and $593 and $1,564 and $1,208 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`CostOfServices`	$56.06M	USD	2 Qtrs
Personnel costs before reimbursable expenses (includes $812 and $593 and $1,564 and $1,208 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`CostOfServices`	$29.31M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $812 and $593 and $1,564 and $1,208 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`CostOfServices`	$63.08M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.03M	USD	2 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$12.33M	USD	2 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$5.72M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.23M	USD	2 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$10.60M	USD	2 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$6.43M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$66.65M	USD	2 Qtrs
Total cost of service	`CostOfRevenue`	$39.24M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$35.02M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$75.41M	USD	2 Qtrs
Selling, general and administrative costs (includes $489 and $563 and $663 and $825 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`SellingGeneralAndAdministrativeExpense`	$28.27M	USD	2 Qtrs
Selling, general and administrative costs (includes $489 and $563 and $663 and $825 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`SellingGeneralAndAdministrativeExpense`	$28.15M	USD	2 Qtrs
Selling, general and administrative costs (includes $489 and $563 and $663 and $825 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`SellingGeneralAndAdministrativeExpense`	$15.06M	USD	1 Quarter
Selling, general and administrative costs (includes $489 and $563 and $663 and $825 of stock compensation expense in the quarters and six months ended July 1, 2011 and July 2, 2010, repectively)	`SellingGeneralAndAdministrativeExpense`	$14.91M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$94.80M	USD	2 Qtrs
Total costs and operating expenses	`CostsAndExpenses`	$103.68M	USD	2 Qtrs
Total costs and operating expenses	`CostsAndExpenses`	$49.93M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$54.31M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.99M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.75M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.61M	USD	2 Qtrs
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$784.00K	USD	1 Quarter
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$1.73M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$13.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$12.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.51M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.00M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.35M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.54M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$117.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$112.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$227.00K	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$272.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.73M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.12M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.42M	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.18	USD	2 Qtrs
Net income per common share	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.12M	shares	2 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.21M	shares	2 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.60M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.02M	shares	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.17	USD	2 Qtrs
Net income per common share	`EarningsPerShareDiluted`	$0.18	USD	2 Qtrs
Net income per common share	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.55M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.02M	shares	2 Qtrs
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.92M	shares	2 Qtrs
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.26M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.73M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.12M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.42M	USD	1 Quarter
Depreciation expense	`Depreciation`	$898.00K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$917.00K	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$975.00K	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$404.00K	USD	2 Qtrs
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$125.00K	USD	2 Qtrs
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-648.00K	USD	2 Qtrs
(Gain) loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-423.00K	USD	2 Qtrs
(Gain) loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$113.00K	USD	2 Qtrs
Non-cash stock compensation expense	`ShareBasedCompensation`	$2.03M	USD	2 Qtrs
Non-cash stock compensation expense	`ShareBasedCompensation`	$2.23M	USD	2 Qtrs
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$784.00K	USD	1 Quarter
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$1.73M	USD	2 Qtrs
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$4.01M	USD	2 Qtrs
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$4.81M	USD	2 Qtrs
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$189.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-238.00K	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.15M	USD	2 Qtrs
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.04M	USD	2 Qtrs
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.03M	USD	2 Qtrs
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.13M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.64M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.99M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.43M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.34M	USD	2 Qtrs
Increase in restricted stock	`IncreaseDecreaseInRestrictedCash`	$205.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.34M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.63M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$316.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$229.00K	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.14M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.04M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.72M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.91M	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-62.00K	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-37.00K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.46M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.38M	USD	2 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.00M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.38M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.88M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash (refunded) paid for income taxes	`IncomeTaxesPaidNet`	$96.00K	USD	2 Qtrs
Cash (refunded) paid for income taxes	`IncomeTaxesPaidNet`	$-396.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.