News Report of Sizzling Stock: Perficient, Inc.’s (NASDAQ: PRFT)

On 11 Dec 18, Perficient, Inc.’s (NASDAQ: PRFT) shares price traded between $23.44 and $24.16 during the last trading session above/below with -0.55% at $23.70. The shares recorded a trading volume 131,167 shares as compared to its average volume of 231,396 shares. The company has 34.33 million shares outstanding and market value of 786.409M. Over the one year trading period, the stock has a peak price of $31.09 and its down is recorded at $18.23.

Perficient, Inc. (PRFT) recently stated its financial results for the quarter ended September 30, 2018.

Financial Highlights

For the quarter ended September 30, 2018:

  • Services revenue raised 5% to $122.9M from $117.4M in the third quarter of 2017;
  • Total revenue raised to $123.9M from $123.7M in the third quarter of 2017;
  • Net income reduced 10% to $6.3M from $7.0M in the third quarter of 2017 primarily Because of adjustments to contingent consideration liabilities related to acquisitions;
  • GAAP earnings per share results on a fully diluted basis reduced to $0.19 from $0.21 in the third quarter of 2017 primarily Because of adjustments to contingent consideration liabilities related to acquisitions;
  • Adjusted earnings per share results (a non-GAAP measure; see attached schedule, which reconciles to GAAP earnings per share) on a fully diluted basis raised 21% to $0.41 from $0.34 in the third quarter of 2017; and
  • EBITDAS(a non-GAAP measure; see attached schedule, which reconciles to GAAP net income) raised to $19.5M from $19.2M in the third quarter of 2017.

“Solid performance across several key metrics resulted in strong services gross margin and profitability,” stated Jeffrey Davis, chairman and CEO. “Those results, coupled with very strong third quarter bookings, enable us to raise our full-year earnings estimate and have us well-positioned for a great start to 2019.”

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. See “Safe Harbor Statement” below.

Perficient expects its fourth quarter 2018 revenue to be in the range of $125M to $131M. Fourth quarter GAAP earnings per share is predictable to be in the range of $0.15 to $0.18. Fourth quarter adjusted earnings per share (a non-GAAP measure; see attached schedule which reconciles to GAAP earnings per share guidance) is predictable to be in the range of $0.39 to $0.42.

Perficient is narrowing its before provided full year 2018 revenue guidance range to $492M to $498M, adjusting its 2018 GAAP earnings per share guidance range to $0.66 to $0.69 as a result of transactional costs and additional amortization for the recent acquisition, and raising its 2018 adjusted earnings per share (a non-GAAP measure; see attached schedule which reconciles to GAAP earnings per share guidance) guidance range to $1.52 to $1.55.

PRFT plunged -6.88% in past week and declined -8.85% in one month. During the past three month period the stock dropped -21.73% and decreased -11.83% in past six month. During the twelve month it added 25.07% and year to date performance of 24.28%.

Leave a Reply

Your email address will not be published. Required fields are marked *