While we are pleased with CRA's performance to begin the year, we remain mindful that uncertainties around global economic, business, health, and political conditions can affect our business."ĬRA does not provide reconciliations of its annual non-GAAP EBITDA margin guidance to GAAP net income margin because the Company is unable to estimate with reasonable certainty unusual gains or charges, foreign currency exchange rates, and the resulting effect of these items, and of equity awards, on CRA's taxes without unreasonable effort. As a reminder, our previously stated guidance is provided on a constant-currency basis relative to fiscal 2022 and calls for expected revenue in the range of $615.0 million to $640.0 million and non-GAAP EBITDA margin in the range of 10.8% to 11.5%. "Consequently, we are reaffirming our financial guidance for full-year fiscal 2023. Both metrics are squarely in the range of our previously announced financial guidance for the year," said Maleh. "Through the first quarter of fiscal 2023, on a constant currency basis, CRA reported year-over-year revenue growth of 5.1% and non-GAAP EBITDA margin of 11.4%. Management Commentary and Financial Guidance CRA returned $23.3 million of capital to its shareholders, consisting of $2.7 million of dividend payments and $20.6 million for share repurchases of approximately 181,000 shares.Non-GAAP net income, earnings per diluted share, and non-GAAP EBITDA would have been higher by $0.8 million, $0.10 per diluted share, and $1.1 million, respectively. On a constant currency basis relative to the first quarter of fiscal 2022, revenue, GAAP net income, and earnings per diluted share would have been higher by $3.1 million, $0.8 million, and $0.11 per diluted share, respectively.Non-GAAP EBITDA decreased 10.7% to $16.7 million, or 10.9% of revenue, compared with $18.7 million, or 12.6% of revenue, in the first quarter of fiscal 2022.Earnings per diluted share decreased 19.1% year over year to $1.23 from $1.52 in the first quarter of fiscal 2022 non-GAAP earnings per diluted share decreased 14.6% year over year to $1.29 from $1.51 in the first quarter of fiscal 2022. ![]() Net income decreased 21.9% year over year to $8.9 million, or 5.8% of revenue, compared with $11.4 million, or 7.7% of revenue, in the first quarter of fiscal 2022 non-GAAP net income decreased 17.9% year over year to $9.4 million, or 6.1% of revenue, compared with $11.4 million, or 7.7% of revenue, in the first quarter of fiscal 2022. ![]()
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