10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001562762-14-000124`
Period End Date	20140331
Filing Date	20140507
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	hckt-20140328.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 49 Cash Flow Statement 57 Comprehensive Income 6

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.67M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.51M	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`	$18.20M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.69M	USD	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1,507 and $1,674 at March 28, 2014 and December 27, 2013, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$34.01M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1,507 and $1,674 at March 28, 2014 and December 27, 2013, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$36.91M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$3.61M	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$5.13M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.64M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.28M	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`	$59.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$55.85M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.14M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$654.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	53.09M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$354.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.81M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	22.91M	shares	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	22.19M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$4.70M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$1.04M	USD	Point-in-time
Goodwill, net	`Goodwill`	$83.58M	USD	Point-in-time
Goodwill, net	`Goodwill`	$76.28M	USD	Point-in-time
Total assets	`Assets`	$157.60M	USD	Point-in-time
Total assets	`Assets`	$150.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.04M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$33.99M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$25.65M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.44M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$4.39M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$2.92M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$26.32M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$19.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$70.68M	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; 53,094,950 and 52,143,103 shares issued at March 28, 2014 and December 27, 2013, respectively	`CommonStockValue`	$52.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 53,094,950 and 52,143,103 shares issued at March 28, 2014 and December 27, 2013, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$261.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$261.86M	USD	Point-in-time
Treasury stock, at cost, 22,905,569 and 22,189,409 shares March 28, 2014 and December 27, 2013, respectively	`TreasuryStockValue`	$80.41M	USD	Point-in-time
Treasury stock, at cost, 22,905,569 and 22,189,409 shares March 28, 2014 and December 27, 2013, respectively	`TreasuryStockValue`	$84.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-85.93M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.07M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$93.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$86.92M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$157.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$150.32M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$49.42M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$48.87M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.48M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.49M	USD	1 Quarter
Total revenue	`Revenues`	$54.91M	USD	1 Quarter
Total revenue	`Revenues`	$54.35M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $615 and $823 of stock compensation expense in the quarters ended March 28, 2014 and March 29, 2013, respectively)	`CostOfServices`	$32.04M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.52M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $615 and $823 of stock compensation expense in the quarters ended March 28, 2014 and March 29, 2013, respectively)	`CostOfServices`	$33.25M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.48M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.49M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$37.52M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$38.74M	USD	1 Quarter
Selling, general and administrative costs (includes $653 and $699 of stock compensation expense in the quarters ended March 28, 2014 and March 29, 2013, respectively)	`SellingGeneralAndAdministrativeExpense`	$13.30M	USD	1 Quarter
Selling, general and administrative costs (includes $653 and $699 of stock compensation expense in the quarters ended March 28, 2014 and March 29, 2013, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.24M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$3.60M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$56.59M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$50.82M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-1.68M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$3.53M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$124.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$142.00K	USD	1 Quarter
(Loss) income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.80M	USD	1 Quarter
(Loss) income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.39M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.36M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$243.00K	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperations`	$2.03M	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperations`	$-2.05M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-71.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
(Loss) income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
(Loss) income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.07	USD	1 Quarter
Loss per common share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.01	USD	1 Quarter
Net (loss) income per common share	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Net (loss) income per common share	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
(Loss) income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.07	USD	1 Quarter
(Loss) income per common share from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.06	USD	1 Quarter
Loss per common share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Loss per common share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net (loss) income per common share	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Net (loss) income per common share	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.29M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	29.12M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.12M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.47M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Depreciation expense	`Depreciation`	$499.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$653.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$557.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$150.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$24.00K	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$3.60M	USD	1 Quarter
Provision (reversal) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$253.00K	USD	1 Quarter
Provision (reversal) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-13.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-55.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-46.00K	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
(Increase) decrease in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$1.26M	USD	1 Quarter
(Increase) decrease in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$-3.08M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$-1.34M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$392.00K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.04M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.90M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.28M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-7.65M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-547.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.99M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$443.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$658.00K	USD	1 Quarter
Cash consideration paid for acquisition	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$2.70M	USD	1 Quarter
Cash acquired in acquisition of business	`CashAcquiredFromAcquisition`	$522.00K	USD	1 Quarter
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$300.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-658.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.92M	USD	1 Quarter
Debt proceeds	`ProceedsFromIssuanceOfDebt`	$9.50M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$25.00K	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$4.47M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$253.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$310.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.34M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.39M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.16M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$12.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-200.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.57M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.50M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.20M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.69M	USD	Point-in-time
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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.69M	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 paid for income taxes	`IncomeTaxesPaidNet`	$275.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$413.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$107.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$82.00K	USD	1 Quarter
Shares issued to Sellers of acquired business	`NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1`	1.00M	shares	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$379.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.46M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$494.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.67M	USD	1 Quarter

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