10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-219106`
Period End Date	20120331
Filing Date	20120509
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	hckt-20120330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 37 Cash Flow Statement 49 Comprehensive Income 6

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$799.00K	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$905.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.94M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $905 and $799 at March 30, 2012 and December 30, 2011, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$35.20M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $905 and $799 at March 30, 2012 and December 30, 2011, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$35.21M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.33M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.32M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$57.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.46M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$682.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$885.00K	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`	$11.70M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.02M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$1.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	61.32M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.50M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$2.07M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	21.17M	shares	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	21.17M	shares	Point-in-time
Goodwill, net	`Goodwill`	$75.56M	USD	Point-in-time
Goodwill, net	`Goodwill`	$76.02M	USD	Point-in-time
Total assets	`Assets`	$148.11M	USD	Point-in-time
Total assets	`Assets`	$167.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.43M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$28.02M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$22.01M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$4.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.17M	USD	Point-in-time
Accrued expenses and other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.53M	USD	Point-in-time
Accrued expenses and other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$35.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$67.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.18M	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; 51,501,884 and 61,315,237 shares issued at March 30, 2012 and December 30, 2011, respectively	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 51,501,884 and 61,315,237 shares issued at March 30, 2012 and December 30, 2011, respectively	`CommonStockValue`	$52.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$258.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$313.20M	USD	Point-in-time
Treasury stock, at cost, 21,171,370 shares at March 30, 2012 and December 30, 2011	`TreasuryStockValue`	$74.44M	USD	Point-in-time
Treasury stock, at cost, 21,171,370 shares at March 30, 2012 and December 30, 2011	`TreasuryStockValue`	$74.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-103.13M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.77M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$80.14M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$130.25M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$167.43M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$148.11M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$51.59M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$46.96M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.91M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.43M	USD	1 Quarter
Total revenue	`Revenues`	$52.86M	USD	1 Quarter
Total revenue	`Revenues`	$57.02M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $760 and $752 of stock compensation expense in the quarters ended March 30, 2012 and April 1, 2011, respectively)	`CostOfServices`	$30.26M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $760 and $752 of stock compensation expense in the quarters ended March 30, 2012 and April 1, 2011, respectively)	`CostOfServices`	$33.15M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.43M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$926.00K	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.91M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$36.16M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$38.58M	USD	1 Quarter
Selling, general and administrative costs (includes $507 and $174 of stock compensation expense in the quarters ended March 30, 2012 and April 1, 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.78M	USD	1 Quarter
Selling, general and administrative costs (includes $507 and $174 of stock compensation expense in the quarters ended March 30, 2012 and April 1, 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$13.21M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$53.36M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$49.38M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.66M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$27.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.49M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.64M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$160.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$108.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	38.52M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.41M	shares	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.77M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.94M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Depreciation expense	`Depreciation`	$452.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$614.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$137.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$200.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$29.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$111.00K	USD	1 Quarter
Loss (gain) on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-51.00K	USD	1 Quarter
Loss (gain) on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$67.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$926.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$97.00K	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$2.94M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-89.00K	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-351.00K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.01M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-140.00K	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-7.38M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.53M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.83M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.24M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$931.00K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-203.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-728.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.27M	USD	1 Quarter
Debt proceeds	`ProceedsFromIssuanceOfDebt`	$40.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$476.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$364.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.41M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$55.57M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.68M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.41M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$103.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$9.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.91M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.14M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$32.94M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.79M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.42M	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`	$32.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.34M	USD	Point-in-time
Cash paid for (refunded from) income taxes	`IncomeTaxesPaidNet`	$38.00K	USD	1 Quarter
Cash paid for (refunded from) income taxes	`IncomeTaxesPaidNet`	$-418.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$8.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$670.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$684.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.01M	USD	1 Quarter

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