10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-304644`
Period End Date	20110930
Filing Date	20111109
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	hckt-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 71 Cash Flow Statement 50

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.49M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$591.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.27M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $591 and $1,486 at September 30, 2011 and December 31, 2010, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$31.58M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $591 and $1,486 at September 30, 2011 and December 31, 2010, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$38.51M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.06M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$61.97M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$61.47M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.61M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$1.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.10M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.98M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$2.78M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$2.05M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	18.84M	shares	Point-in-time
Goodwill, net	`Goodwill`	$75.79M	USD	Point-in-time
Goodwill, net	`Goodwill`	$75.62M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	20.61M	shares	Point-in-time
Total assets	`Assets`	$152.45M	USD	Point-in-time
Total assets	`Assets`	$150.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.59M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$23.35M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$29.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.95M	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`	$2.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.56M	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; 60,983,011 and 60,099,198 shares issued at September 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 60,983,011 and 60,099,198 shares issued at September 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$60.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$308.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$312.31M	USD	Point-in-time
Treasury stock, at cost, 20,610,570 and 18,838,310 shares at September 30, 2011 and December 31, 2010, respectively	`TreasuryStockValue`	$65.49M	USD	Point-in-time
Treasury stock, at cost, 20,610,570 and 18,838,310 shares at September 30, 2011 and December 31, 2010, respectively	`TreasuryStockValue`	$72.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-124.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.03M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.14M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$121.90M	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`	$152.45M	USD	Point-in-time

Income Statement 71 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$47.34M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$150.91M	USD	3 Qtrs
Revenue before reimbursements	`SalesRevenueServicesNet`	$137.16M	USD	3 Qtrs
Revenue before reimbursements	`SalesRevenueServicesNet`	$51.57M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.36M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$18.69M	USD	3 Qtrs
Reimbursements	`ReimbursementRevenue`	$4.96M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$15.56M	USD	3 Qtrs
Total revenue	`Revenues`	$52.30M	USD	1 Quarter
Total revenue	`Revenues`	$57.94M	USD	1 Quarter
Total revenue	`Revenues`	$152.72M	USD	3 Qtrs
Total revenue	`Revenues`	$169.61M	USD	3 Qtrs
Personnel costs before reimbursable expenses (includes $765 and $560 and $2,329 and $1,768 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`CostOfServices`	$85.20M	USD	3 Qtrs
Personnel costs before reimbursable expenses (includes $765 and $560 and $2,329 and $1,768 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`CostOfServices`	$32.74M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $765 and $560 and $2,329 and $1,768 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`CostOfServices`	$95.81M	USD	3 Qtrs
Personnel costs before reimbursable expenses (includes $765 and $560 and $2,329 and $1,768 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`CostOfServices`	$29.14M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$4.96M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$15.56M	USD	3 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$18.69M	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$3.02M	USD	3 Qtrs
Reimbursable expenses	`CostOfReimbursableExpense`	$6.36M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$3.50M	USD	3 Qtrs
Total cost of service	`CostOfRevenue`	$39.10M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$100.76M	USD	3 Qtrs
Total cost of service	`CostOfRevenue`	$34.11M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$114.51M	USD	3 Qtrs
Selling, general and administrative costs (includes $509 and $432 and $1,172 and $1,256 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`SellingGeneralAndAdministrativeExpense`	$42.44M	USD	3 Qtrs
Selling, general and administrative costs (includes $509 and $432 and $1,172 and $1,256 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.29M	USD	1 Quarter
Selling, general and administrative costs (includes $509 and $432 and $1,172 and $1,256 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`SellingGeneralAndAdministrativeExpense`	$42.60M	USD	3 Qtrs
Selling, general and administrative costs (includes $509 and $432 and $1,172 and $1,256 of stock compensation expense in the quarters and nine months ended September 30, 2011 and October 1, 2010, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.32M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$48.39M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$53.42M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$157.11M	USD	3 Qtrs
Total costs and operating expenses	`CostsAndExpenses`	$143.19M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.91M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.50M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$9.53M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.51M	USD	1 Quarter
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$1.73M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$17.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$24.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.52M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.92M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.52M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.27M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$41.00K	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$448.00K	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$-186.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$176.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.23M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$12.08M	USD	3 Qtrs
Net income per common share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.30	USD	3 Qtrs
Net income per common share	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.28	USD	3 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.26M	shares	3 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.03M	shares	3 Qtrs
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.55M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	39.68M	shares	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.27	USD	3 Qtrs
Net income per common share	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.29	USD	3 Qtrs
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.97M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.30M	shares	3 Qtrs
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.06M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.87M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.23M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$12.08M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$1.37M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$1.41M	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$1.50M	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$608.00K	USD	3 Qtrs
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-695.00K	USD	3 Qtrs
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$126.00K	USD	3 Qtrs
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-130.00K	USD	3 Qtrs
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-370.00K	USD	3 Qtrs
Non-cash stock compensation expense	`ShareBasedCompensation`	$3.02M	USD	3 Qtrs
Non-cash stock compensation expense	`ShareBasedCompensation`	$3.50M	USD	3 Qtrs
Non-cash acquisition earn-out shares re-measurement gain	`NonCashAcquisitionEarnOutSharesReMeasurementGain`	$1.73M	USD	3 Qtrs
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$6.23M	USD	3 Qtrs
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$2.16M	USD	3 Qtrs
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-257.00K	USD	3 Qtrs
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-324.00K	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.12M	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-985.00K	USD	3 Qtrs
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-828.00K	USD	3 Qtrs
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.70M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.37M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.35M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.65M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.16M	USD	3 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$207.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.16M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.85M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$237.00K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$316.00K	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$7.01M	USD	3 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.69M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.69M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.46M	USD	3 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$169.00K	USD	3 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$220.00K	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.26M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.31M	USD	3 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.00M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$23.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.03M	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`	$23.27M	USD	Point-in-time
Cash (refunded) paid for income taxes	`IncomeTaxesPaidNet`	$-401.00K	USD	3 Qtrs
Cash (refunded) paid for income taxes	`IncomeTaxesPaidNet`	$134.00K	USD	3 Qtrs

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