10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001562762-16-000388`
Period End Date	20160331
Filing Date	20160511
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	hckt-20160401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 37 Cash Flow Statement 51 Comprehensive Income 6

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.25M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.88M	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`	$14.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	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`	$23.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,246 and $1,881 at April 1, 2016 and January 1, 2016, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$42.05M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,246 and $1,881 at April 1, 2016 and January 1, 2016, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$47.13M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.35M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$62.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$67.49M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	53.85M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	54.60M	shares	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$3.91M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$4.21M	USD	Point-in-time
Goodwill, net	`Goodwill`	$74.23M	USD	Point-in-time
Goodwill, net	`Goodwill`	$74.58M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	24.14M	shares	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	24.45M	shares	Point-in-time
Total assets	`Assets`	$160.38M	USD	Point-in-time
Total assets	`Assets`	$154.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.80M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$41.81M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$32.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.11M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$8.12M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$10.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$53.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.23M	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; 54,599,310 and 53,847,479 shares issued at April 1, 2016 and January 1, 2016, respectively	`CommonStockValue`	$54.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 54,599,310 and 53,847,479 shares issued at April 1, 2016 and January 1, 2016, respectively	`CommonStockValue`	$54.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$271.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$272.89M	USD	Point-in-time
Treasury stock, at cost, 24,446,065 and 24,138,694 shares April 1, 2016 and January 1, 2016, respectively	`TreasuryStockValue`	$92.69M	USD	Point-in-time
Treasury stock, at cost, 24,446,065 and 24,138,694 shares April 1, 2016 and January 1, 2016, respectively	`TreasuryStockValue`	$96.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-65.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-70.13M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.66M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$100.27M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$102.14M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$154.21M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$160.38M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$54.91M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$61.97M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.80M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.07M	USD	1 Quarter
Total revenue	`Revenues`	$68.78M	USD	1 Quarter
Total revenue	`Revenues`	$60.97M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,315 and $1,309 of stock compensation expense in the quarters ended April 1, 2016 and April 3, 2015, respectively)	`CostOfServices`	$39.67M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.91M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,315 and $1,309 of stock compensation expense in the quarters ended April 1, 2016 and April 3, 2015, respectively)	`CostOfServices`	$34.95M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.80M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.07M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$46.47M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$41.02M	USD	1 Quarter
Selling, general and administrative costs (includes $597 and $515 of stock compensation expense in the quarters ended April 1, 2016 and April 3, 2015, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.07M	USD	1 Quarter
Selling, general and administrative costs (includes $597 and $515 of stock compensation expense in the quarters ended April 1, 2016 and April 3, 2015, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.32M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$56.34M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$61.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.24M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.63M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$41.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$140.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.20M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.50M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	28.55M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	29.89M	shares	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.13	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`	33.35M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Depreciation expense	`Depreciation`	$612.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$637.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$275.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$547.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$25.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.91M	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$159.00K	USD	1 Quarter
(Reversal) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-36.00K	USD	1 Quarter
(Gain) loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$250.00K	USD	1 Quarter
(Gain) loss on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-206.00K	USD	1 Quarter
Increase in deferred tax liability	`DeferredIncomeTaxExpenseBenefit`	$2.74M	USD	1 Quarter
Increase in deferred tax liability	`DeferredIncomeTaxExpenseBenefit`	$1.46M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$5.14M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$4.75M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$415.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$74.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.49M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.50M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-474.00K	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.49M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-339.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$536.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$487.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$725.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-725.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-487.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.20M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$7.69M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.72M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.72M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.89M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-11.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-6.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.79M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.85M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	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`	$23.50M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$164.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$2.40M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$122.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$13.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.34M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-687.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.69M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.67M	USD	1 Quarter

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