10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001562762-17-000064`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	hckt-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 35 Cash Flow Statement 59 Comprehensive Income 6

Balance Sheet 66 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`	$2.57M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,249 and $2,574 at March 31, 2017 and December 30, 2016, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$49.91M	USD	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,249 and $2,574 at March 31, 2017 and December 30, 2016, respectively	`AccountsReceivableAndUnbilledRevenueNet`	$47.40M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.70M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.63M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$69.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.81M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.77M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$15.78M	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
Other assets	`OtherAssetsAndIntangibles`	$2.84M	USD	Point-in-time
Other assets	`OtherAssetsAndIntangibles`	$3.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	55.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	54.79M	shares	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	26.26M	shares	Point-in-time
Goodwill, net	`Goodwill`	$72.55M	USD	Point-in-time
Goodwill, net	`Goodwill`	$72.38M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	26.20M	shares	Point-in-time
Total assets	`Assets`	$160.76M	USD	Point-in-time
Total assets	`Assets`	$159.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.09M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$46.73M	USD	Point-in-time
Accrued expenses and other liabilities	`OtherLiabilitiesCurrent`	$34.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.81M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$9.92M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$10.22M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$7.00M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$9.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$64.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$73.03M	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; 55,446,676 and 54,785,193 shares issued at March 31, 2017 and December 30, 2016, respectively	`CommonStockValue`	$55.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 55,446,676 and 54,785,193 shares issued at March 31, 2017 and December 30, 2016, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$277.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$279.74M	USD	Point-in-time
Treasury stock, at cost, 26,256,909 and 26,197,981 shares March 31, 2017 and December 30, 2016, respectively	`TreasuryStockValue`	$123.94M	USD	Point-in-time
Treasury stock, at cost, 26,256,909 and 26,197,981 shares March 31, 2017 and December 30, 2016, respectively	`TreasuryStockValue`	$122.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.58M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.55M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$86.27M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$96.03M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$160.76M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$159.30M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$61.97M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$65.07M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.80M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.36M	USD	1 Quarter
Total revenue	`Revenues`	$71.43M	USD	1 Quarter
Total revenue	`Revenues`	$68.78M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,442 and $1,315 of stock compensation expense in the quarters ended March 31, 2017 and April 1, 2016, respectively)	`CostOfServices`	$41.59M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,442 and $1,315 of stock compensation expense in the quarters ended March 31, 2017 and April 1, 2016, respectively)	`CostOfServices`	$39.67M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$1.91M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.36M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.80M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$47.95M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$46.47M	USD	1 Quarter
Selling, general and administrative costs (includes $659 and $597 of stock compensation expense in the quarters ended March 31, 2017 and April 1, 2016, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.51M	USD	1 Quarter
Selling, general and administrative costs (includes $659 and $597 of stock compensation expense in the quarters ended March 31, 2017 and April 1, 2016, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.07M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$63.47M	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`	$7.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$41.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$90.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.87M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	29.89M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	28.87M	shares	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.35M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.29M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Depreciation expense	`Depreciation`	$637.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$639.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$386.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$275.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$25.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$1.91M	USD	1 Quarter
Provision (reversal) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$111.00K	USD	1 Quarter
Provision (reversal) 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`	$-173.00K	USD	1 Quarter
Release of valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	$-1.47M	USD	1 Quarter
Release of valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	$-2.74M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$4.75M	USD	1 Quarter
Increase in accounts receivable and unbilled revenue	`IncreaseDecreaseAccountsReceivableAndUnbilledRevenue`	$2.52M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$415.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpenseAndOtherAssets`	$842.00K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.50M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.56M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.12M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.62M	USD	1 Quarter
Increase (decrease) in income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.37M	USD	1 Quarter
Increase (decrease) in income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$536.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.88M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.63M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$487.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.63M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-487.00K	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$5.00M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$8.00M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$6.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.20M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.02M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$200.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$7.69M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.89M	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`	$-8.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.85M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.66M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.50M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.50M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.65M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$7.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$2.40M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$69.00K	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`	$7.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-687.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$433.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.69M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.31M	USD	1 Quarter

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