Charles River Associates Q4 Net Income Rises

(RTTNews) - Charles River Associates (CRAI) reported that its fourth quarter net income increased 32.1% year over year to $11.5 million. Earnings per share increased 36.1% year over year to $1.62 from $1.19. Non-GAAP net income increased 14.8% year over year to $11.5 million. Non-GAAP earnings per share increased 19.0% year over year to $1.63 from $1.37. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $1.10, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenue grew 11.5% year over year to $161.6 million. Analysts on average had estimated $149.67 million in revenue.

For fiscal 2024, on a constant currency basis, the company expects revenue in the range of $645 million to $675 million.

On February 29, 2024, CRA's Board authorized a $35.0 million expansion of the existing share repurchase program, in addition to the $11.4 million currently remaining under the program.

The Board also authorized a quarterly cash dividend of $0.42 per common share, payable on March 22, 2024 to shareholders of record as of March 12, 2024.

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