CRA International, Inc. - CRAI STOCK NEWS

Charles River Associates (NASDAQ: CRAI) announced the appointment of Miguel Maal as vice president at its management consulting practice, Marakon, based in New York. With over 20 years of experience in strategy consulting, Maal specializes in corporate strategy and growth solutions in the consumer goods, retail, and leisure sectors. His prior roles include partnerships at QVARTZ and OC&C Strategy Consultants. This strategic addition aims to enhance Marakon's client service capabilities in a dynamic market.

Charles River Associates (NASDAQ: CRAI) has announced the final results of its modified Dutch auction self-tender offer, which allowed it to purchase up to $25 million in common stock at a price between $66.25 and $76.00 per share. The offer expired on April 5, 2021, resulting in 417,300 shares being tendered at or below the purchase price of $74.00. Due to oversubscription, CRA will acquire approximately 337,837 shares at the accepted price, using funds from its revolving credit facility and cash on hand. Post-tender, CRA will have about 7.3 million shares outstanding.

Charles River Associates (NASDAQ: CRAI) has announced preliminary results for its modified “Dutch auction” self-tender offer, which aimed to buy back up to $25 million worth of shares at prices between $66.25 and $76.00 each. The tender offer, which expired on April 5, 2021, witnessed 419,549 shares tendered at or below $74.00. CRA is expected to purchase about 337,837 shares for a total of approximately $25 million, excluding associated fees. The final number of shares will be confirmed following the completion of the depositary's confirmation process.

Charles River Associates (NASDAQ: CRAI) announced the promotion of six employees to vice president, marking a significant milestone in their careers. The promoted individuals include Christine Dedrick, Jennifer Johnson, Mikaël Hervé, Michal Malkiewicz, Sean Taylor, and Erik Himan. Each has demonstrated exceptional commitment and expertise in various consulting areas, contributing to the firm's strong leadership. CRA's President, Paul Maleh, expressed gratitude for their contributions, highlighting the firm’s emphasis on high-quality work for clients and colleagues.

Charles River Associates (NASDAQ: CRAI) announced its participation in Sidoti & Company's Virtual Investor Conference on March 24, 2021. The management team will present at 9:15 a.m. EDT, with a live webcast available on the company's investor relations website. Attendees can engage in a virtual Q&A session. Additionally, key executives, including CEO Paul Maleh and CFO Daniel Mahoney, will hold one-on-one meetings with investors. For meeting arrangements, contact Sidoti & Company.

Charles River Associates (NASDAQ: CRAI) announced a modified Dutch auction self-tender offer to buy up to $25 million in common stock at prices ranging from $66.25 to $76.00 per share. The tender offer will expire on April 5, 2021, unless extended. CRA aims to maximize long-term shareholder value and return half of adjusted net cash flows from operations to shareholders. The tender offer will be financed through its revolving credit facility and cash on hand. Shareholders are encouraged to make informed decisions and consult advisors regarding the tendering of shares.

Charles River Associates (NASDAQ: CRAI) reported strong financial results for the fiscal year ended January 2, 2021, with a 12.6% year-over-year revenue growth to $508.4 million. The fourth quarter saw a 15.2% revenue increase to $137.4 million, and net income rose 40.8% to $6.7 million. Earnings per diluted share jumped 44.1% to $0.85, while non-GAAP EBITDA grew 24.1% to $14.0 million. Looking ahead, CRA projects fiscal year 2021 revenue between $530 million and $550 million. Additionally, the company will pay a quarterly dividend of $0.26 per share on March 26, 2021.

Charles River Associates (CRAI) has declared a quarterly cash dividend of $0.26 per common share, set to be paid on March 26, 2021, to shareholders recorded as of the close of business on March 16, 2021. The company anticipates continuing quarterly dividends, subject to the Board's discretion. This declaration reflects CRAI's commitment to returning value to its shareholders amidst ongoing economic challenges.

Charles River Associates (NASDAQ: CRAI) announced the appointment of Cynthia Catlett as Vice President in its Risk, Investigations & Analytics Practice, leading the Sao Paulo office. With over a decade of experience in investigative consulting across Latin America, Catlett specializes in corporate investigations and has led significant corruption inquiries in Brazil. Her expertise will enhance CRA's client services in the region, according to CEO Paul Maleh and VP Peter Nolan. Catlett holds a J.D. and has published extensively on compliance issues.