10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001562762-15-000153`
Period End Date	20150331
Filing Date	20150513
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	hckt-20150403.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 40 Cash Flow Statement 56 Comprehensive Income 6

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.25M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.33M	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`	$12.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	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`	$18.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.61M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1,251 and $1,330 at April 3, 2015 and January 2, 2015, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$42.24M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $1,251 and $1,330 at April 3, 2015 and January 2, 2015, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$37.42M	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
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$2.83M	USD	Point-in-time
Deferred tax asset, net	`DeferredTaxAssetsNetCurrent`	$2.50M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.20M	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
Total current assets	`AssetsCurrent`	$57.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$57.06M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	53.20M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	53.81M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.75M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	23.99M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$5.97M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$6.55M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	24.06M	shares	Point-in-time
Goodwill, net	`Goodwill`	$75.43M	USD	Point-in-time
Goodwill, net	`Goodwill`	$74.66M	USD	Point-in-time
Total assets	`Assets`	$152.27M	USD	Point-in-time
Total assets	`Assets`	$152.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.42M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$31.33M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$30.90M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.41M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$5.92M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$7.06M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$18.26M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$16.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$62.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$63.00M	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; 53,811,051 and 53,203,395 shares issued at April 3, 2015 and January 2, 2015, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 53,811,051 and 53,203,395 shares issued at April 3, 2015 and January 2, 2015, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$264.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$264.31M	USD	Point-in-time
Treasury stock, at cost, 24,064,835 and 23,989,776 shares April 3, 2015 and January 2, 2015, respectively	`TreasuryStockValue`	$91.99M	USD	Point-in-time
Treasury stock, at cost, 24,064,835 and 23,989,776 shares April 3, 2015 and January 2, 2015, respectively	`TreasuryStockValue`	$91.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-77.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.67M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.50M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$89.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$90.20M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$152.79M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$152.27M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$54.91M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$49.42M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.49M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.07M	USD	1 Quarter
Total revenue	`Revenues`	$54.91M	USD	1 Quarter
Total revenue	`Revenues`	$60.97M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,309 and $686 of stock compensation expense in the quarters ended April 3, 2015 and March 28, 2014, respectively)	`CostOfServices`	$34.18M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.34M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,309 and $686 of stock compensation expense in the quarters ended April 3, 2015 and March 28, 2014, respectively)	`CostOfServices`	$34.95M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.07M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.49M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$41.02M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$39.67M	USD	1 Quarter
Selling, general and administrative costs (includes $515 and $653 of stock compensation expense in the quarters ended April 3, 2015 and March 28, 2014, respectively)	`SellingGeneralAndAdministrativeExpense`	$14.23M	USD	1 Quarter
Selling, general and administrative costs (includes $515 and $653 of stock compensation expense in the quarters ended April 3, 2015 and March 28, 2014, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.32M	USD	1 Quarter
Bargain purchase gain from acquisition	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$3.02M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$3.60M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$54.49M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$56.34M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$410.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$140.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$124.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$287.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.50M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-118.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$405.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	29.12M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	28.55M	shares	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.92M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.87M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$405.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Depreciation expense	`Depreciation`	$654.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$612.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$547.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$551.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$1.34M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
Bargain purchase gain from acquisition	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$3.02M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$3.60M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$253.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$159.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-206.00K	USD	1 Quarter
Loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-46.00K	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$1.26M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$5.14M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$392.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$74.00K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.04M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.49M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-7.16M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.08M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.99M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.40M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$443.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$725.00K	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	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-725.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.92M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$254.00K	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$9.50M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$653.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.36M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.39M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-653.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-6.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$12.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.79M	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`	$12.69M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.20M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.61M	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`	$10.82M	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`	$14.61M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$413.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$164.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$122.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$107.00K	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 income	`NetIncomeLoss`	$405.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$379.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.34M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.67M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$784.00K	USD	1 Quarter

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