10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-207546`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	hckt-20130329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 50 Cash Flow Statement 52 Comprehensive Income 6

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.16M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.25M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.94M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.79M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1155 and $1251 at March 29, 2013 and December 28, 2012, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$36.87M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1155 and $1251 at March 29, 2013 and December 28, 2012, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$33.80M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$4.74M	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$4.22M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.33M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.65M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.00M	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
Total current assets	`AssetsCurrent`	$60.85M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$684.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.78M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$683.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.24M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.01M	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
Other assets	`OtherAssetsAndIntangibles`	$1.60M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$1.41M	USD	Point-in-time
Goodwill, net	`Goodwill`	$75.10M	USD	Point-in-time
Goodwill, net	`Goodwill`	$76.22M	USD	Point-in-time
Non-current deferred tax asset, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.71M	USD	Point-in-time
Non-current deferred tax asset, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$779.00K	USD	Point-in-time
Total assets	`Assets`	$142.99M	USD	Point-in-time
Total assets	`Assets`	$153.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.82M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$26.48M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$21.41M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.23M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$22.11M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$20.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$59.20M	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; 52,780,237 and 52,235,764 shares issued at March 29, 2013 and December 28, 2012, respectively	`CommonStockValue`	$52.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 52,780,237 and 52,235,764 shares issued at March 29, 2013 and December 28, 2012, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$264.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$263.13M	USD	Point-in-time
Treasury stock, at cost, 21,171,370 shares at March 29, 2013 and December 28, 2012	`TreasuryStockValue`	$74.44M	USD	Point-in-time
Treasury stock, at cost, 21,171,370 shares at March 29, 2013 and December 28, 2012	`TreasuryStockValue`	$74.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-87.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-89.51M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.50M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$94.73M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$96.23M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$153.92M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$142.99M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$48.87M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$49.04M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.04M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.48M	USD	1 Quarter
Total revenue	`Revenues`	$54.35M	USD	1 Quarter
Total revenue	`Revenues`	$54.08M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.52M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $823 and $758 of stock compensation expense in the quarters ended March 29, 2013 and March 30, 2012, respectively)	`CostOfServices`	$30.56M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $823 and $758 of stock compensation expense in the quarters ended March 29, 2013 and March 30, 2012, respectively)	`CostOfServices`	$32.04M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.04M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.48M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$35.60M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$37.52M	USD	1 Quarter
Selling, general and administrative costs (includes $699 and ,$507 of stock compensation expense in the quarters ended March 29, 2013 and March 30, 2012, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.51M	USD	1 Quarter
Selling, general and administrative costs (includes $699 and ,$507 of stock compensation expense in the quarters ended March 29, 2013 and March 30, 2012, respectively)	`SellingGeneralAndAdministrativeExpense`	$13.30M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$50.82M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$50.11M	USD	1 Quarter
Income from continuing operations	`OperatingIncomeLoss`	$3.98M	USD	1 Quarter
Income from continuing operations	`OperatingIncomeLoss`	$3.53M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$27.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$142.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.96M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.39M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.36M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$108.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$3.85M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$2.03M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-71.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-318.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Income from operations per common share	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.07	USD	1 Quarter
Income from operations per common share	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.10	USD	1 Quarter
Loss from discontinued operations per common share	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.01	USD	1 Quarter
Loss from discontinued operations per common share	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Net income per common share	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Income from operations per common share	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.06	USD	1 Quarter
Income from operations per common share	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.10	USD	1 Quarter
Loss from discontinued operations per common share	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Loss from discontinued operations per common share	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.01	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Net income per common share	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	38.52M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	30.29M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.94M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.47M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Depreciation expense	`Depreciation`	$614.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$499.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$150.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$137.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$24.00K	USD	1 Quarter
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-13.00K	USD	1 Quarter
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$111.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-51.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-55.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.52M	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Decrease (increase) in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$-3.08M	USD	1 Quarter
Decrease (increase) in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenueNet`	$97.00K	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-89.00K	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-1.34M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.90M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.01M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.53M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.28M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-547.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.83M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$931.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$658.00K	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`	$-658.00K	USD	1 Quarter
Debt proceeds	`ProceedsFromIssuanceOfDebt`	$40.00M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$4.47M	USD	1 Quarter
Debt issuance costs	`DebtIssuanceCosts`	$-476.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$310.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$364.00K	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`	$-4.16M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-200.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$103.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.57M	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`	$16.91M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.34M	USD	Point-in-time
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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.34M	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 paid for income taxes	`IncomeTaxesPaidNet`	$275.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$38.00K	USD	1 Quarter
Cash paid for interest	`CashPaidForInterest`	$82.00K	USD	1 Quarter
Cash paid for interest	`CashPaidForInterest`	$8.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.46M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$670.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.20M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$494.00K	USD	1 Quarter

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