10-Q Filing

HACKETT GROUP, INC. CIK: 1057379 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-012350`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	hckt-20180330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 35 Cash Flow Statement 57 Comprehensive Income 6

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.31M	USD	Point-in-time
Accounts receivable and unbilled revenue, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.60M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.51M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$23.67M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.25M	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,312 and $2,601 at March 30, 2018 and December 29, 2017, respectively	`ReceivablesNetCurrent`	$51.94M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable and unbilled revenue, net of allowance of $2,312 and $2,601 at March 30, 2018 and December 29, 2017, respectively	`ReceivablesNetCurrent`	$55.26M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.46M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$75.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$79.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$18.85M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.65M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	55.74M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.02M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.64M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	56.47M	shares	Point-in-time
Goodwill, net	`Goodwill`	$85.07M	USD	Point-in-time
Goodwill, net	`Goodwill`	$85.69M	USD	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	27.07M	shares	Point-in-time
Treasury stock, at cost, shares	`TreasuryStockShares`	26.95M	shares	Point-in-time
Total assets	`Assets`	$191.05M	USD	Point-in-time
Total assets	`Assets`	$185.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.62M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$39.80M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$43.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$51.45M	USD	Point-in-time
Non-current accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilitiesNoncurrent`	$613.00K	USD	Point-in-time
Non-current accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilitiesNoncurrent`	$1.27M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$6.24M	USD	Point-in-time
Long-term deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$7.63M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$19.00M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$19.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$77.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.67M	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; 56,465,620 and 55,744,893 shares issued at March 30, 2018 and December 29, 2017, respectively	`CommonStockValue`	$57.00K	USD	Point-in-time
Common stock, $.001 par value, 125,000,000 shares authorized; 56,465,620 and 55,744,893 shares issued at March 30, 2018 and December 29, 2017, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$290.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$288.30M	USD	Point-in-time
Treasury stock, at cost, 27,071,782 and 26,945,776 shares March 30, 2018 and December 29, 2017, respectively	`TreasuryStockValue`	$136.36M	USD	Point-in-time
Treasury stock, at cost, 27,071,782 and 26,945,776 shares March 30, 2018 and December 29, 2017, respectively	`TreasuryStockValue`	$134.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.15M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.35M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$107.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$115.38M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$185.23M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$191.05M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue before reimbursements	`SalesRevenueServicesNet`	$67.47M	USD	1 Quarter
Revenue before reimbursements	`SalesRevenueServicesNet`	$65.07M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$5.26M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$6.36M	USD	1 Quarter
Total revenue	`Revenues`	$71.43M	USD	1 Quarter
Total revenue	`Revenues`	$72.73M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,843 and $1,442 of stock compensation expense in the quarters ended March 30, 2018 and March 31, 2017, respectively)	`CostOfServices`	$41.59M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$2.68M	USD	1 Quarter
Total share based compensation	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Personnel costs before reimbursable expenses (includes $1,843 and $1,442 of stock compensation expense in the quarters ended March 30, 2018 and March 31, 2017, respectively)	`CostOfServices`	$42.88M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$6.36M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$5.26M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$48.14M	USD	1 Quarter
Total cost of service	`CostOfRevenue`	$47.95M	USD	1 Quarter
Selling, general and administrative costs (includes $841 and $659 of stock compensation expense in the quarters ended March 30, 2018 and March 31, 2017, respectively)	`SellingGeneralAndAdministrativeExpense`	$15.51M	USD	1 Quarter
Selling, general and administrative costs (includes $841 and $659 of stock compensation expense in the quarters ended March 30, 2018 and March 31, 2017, respectively)	`SellingGeneralAndAdministrativeExpense`	$16.28M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$64.41M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$63.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.32M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$179.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$90.00K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.14M	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.87M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$774.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.37M	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Income per common share from operations	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	29.09M	shares	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	28.87M	shares	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Income per common share from operations	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.81M	shares	1 Quarter
Weighted average common and common equivalent shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.29M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.37M	USD	1 Quarter
Depreciation expense	`Depreciation`	$580.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$639.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$386.00K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$613.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$23.00K	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$2.68M	USD	1 Quarter
Non-cash stock compensation expense	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Provision (reversal) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$111.00K	USD	1 Quarter
Provision (reversal) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$68.00K	USD	1 Quarter
Loss (gain) on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-200.00K	USD	1 Quarter
Loss (gain) on foreign currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-173.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.47M	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.39M	USD	1 Quarter
Decrease (increase) in accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$2.52M	USD	1 Quarter
Decrease (increase) in accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$-3.09M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$842.00K	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.20M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.56M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$187.00K	USD	1 Quarter
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.62M	USD	1 Quarter
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.09M	USD	1 Quarter
Decrease in income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-887.00K	USD	1 Quarter
Decrease in income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.20M	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`	$2.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.63M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$8.00M	USD	1 Quarter
Repayment of borrowings	`RepaymentsOfLongTermDebt`	$6.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.02M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.66M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$200.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.07M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.97M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.89M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.62M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-8.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-63.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.15M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.66M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.51M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.67M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.51M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.71M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.05M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.67M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$7.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$69.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$141.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$69.00K	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`	$7.37M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$433.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.16M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.31M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.52M	USD	1 Quarter

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