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CRA International Inc (CRAI) delivers economic consulting and regulatory analysis services to corporations, government agencies, and global institutions. This news hub provides investors and professionals with essential updates about the firm’s strategic initiatives, litigation support activities, and market leadership.
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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.
Charles River Associates (NASDAQ: CRAI) has announced the appointment of David Walls as Vice President in its Energy Practice, based in Boston. With over 40 years of experience in the energy sector, Walls specializes in clean energy, renewables, and decarbonization. He has a strong background in advising utilities and government organizations on power industry trends and emerging technologies. His expertise is expected to enhance CRA's capabilities in energy consulting. Prior to CRA, Walls held senior roles at Navigant Consulting and Arthur D. Little.
Charles River Associates (CRAI) announced a webcast for its fourth-quarter 2020 financial results, scheduled for March 4, 2021, at 10:00 a.m. ET. The conference call will feature key executives including President and CEO Paul Maleh and CFO Daniel Mahoney. Investors can access live updates through CRA's Investor Relations page. An archived version of the webcast will also be available on their website for one year following the event. This upcoming call highlights CRA's commitment to transparency and investor engagement.
Charles River Associates (NASDAQ: CRAI) has expanded its share repurchase program by $40 million, indicating strong confidence in its financial health. The company repurchased $9.5 million in stock at an average price of $53.57 during Q4 FY2020 and Q1 FY2021. This initiative is part of CRA's strategy to return half of adjusted net cash flows from operations to shareholders, supporting its commitment to maximizing long-term shareholder value. The company retains $5.2 million under its previous authorization and emphasizes a focus on both capital return and business growth.
Charles River Associates (NASDAQ: CRAI) has increased its revolving credit facility from $125 million to $175 million, adding $50 million in commitments to support growth and general corporate purposes. In the fiscal year ended January 2, 2021, CRA's maximum loan borrowings were $70 million, fully repaid by year-end. CEO Paul Maleh emphasized the importance of this facility in managing working capital, noting CRA's significant expansion since 2013. The credit increase aims to provide financial flexibility for ongoing growth and enhance capital return to shareholders.
Charles River Associates (NASDAQ: CRAI) announces the return of Bradley Wendt as a Senior Consultant in their Finance Practice. Wendt, previously a Senior Advisor at the U.S. Department of the Treasury, brings a wealth of experience in financial markets and regulatory compliance. His expertise includes managing complex fiscal issues for Puerto Rico and leading significant financial initiatives at Goldman Sachs, where he helped establish their municipal capital markets group. CRA leaders believe Wendt's return will enhance client offerings in fixed income markets and securities pricing.
Charles River Associates (NASDAQ: CRAI) announced its participation in Sidoti & Company’s Virtual Investor Conference on January 13, 2021. The company's President and CEO, Paul Maleh, will present at 1:45 p.m. EST. A live webcast of the presentation will be accessible via the company's investor relations website, enabling attendees to submit questions during a virtual Q&A session. Key executives, including CFO Daniel Mahoney and Chief Corporate Development Officer Chad Holmes, will also engage in virtual one-on-one meetings with investors.
CRA International, Inc. (NASDAQ: CRAI) has announced a Request for Proposal (RFP) auction for FirstEnergy Corp.'s Ohio utilities, aimed at procuring full requirements service for their Percentage of Income Payment Plan (PIPP) customers. The selected supplier will serve the PIPP load for a 12-month delivery period from June 2021 to May 2022. An Information Session for potential bidders is set for January 14, 2021, with applications due by January 29 and bidding on February 8. CRA, a leader in consulting services, will manage the auction process.
