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CRA International, Inc. (CRAI), also known as Charles River Associates, is a prominent global consulting firm headquartered in Boston, Massachusetts. Established in 1965, CRA specializes in litigation, regulatory, financial, and management consulting. The firm is renowned for providing rigorous economic and financial analysis in various legal and regulatory proceedings, guiding businesses through critical strategic and operational challenges.
CRA's diverse client base includes domestic and international companies, government agencies, public and private utilities, as well as national and international trade associations. With deep expertise in numerous industries, CRA delivers objective and well-supported solutions to complex problems, tailored to each client's unique requirements.
CRA operates through a network of offices across the globe, which enables it to offer localized and specialized services. The company is committed to upholding the highest standards of professional integrity and excellence in all its endeavors.
In recent developments, CRA has undertaken notable projects that showcase its capabilities in providing insightful and actionable analysis. The company continues to expand its service offerings and enhance its methodologies to better serve its clients' evolving needs. Additionally, CRA actively pursues opportunities for strategic partnerships, further strengthening its market position.
Recent Achievements and Current Projects
- Successfully advised on prominent litigation cases involving complex financial disputes.
- Conducted comprehensive regulatory analysis to support policy development for government agencies.
- Implemented performance improvement strategies for leading companies across various sectors.
Financial Condition
CRA International generates the majority of its revenue from clients based in the United States, reflecting strong demand for its consultancy services in the domestic market. The company's consistent performance demonstrates its capability to deliver value and maintain financial stability.
CRA offers a dynamic career environment for professionals seeking to work at the forefront of economic and financial consulting. Those interested in exploring career opportunities can learn more by visiting CRA Careers.
Charles River Associates (NASDAQ: CRAI) announced the appointment of Ayushman Ghosh as vice president in its Life Sciences Practice. Ghosh brings extensive experience in advising life sciences clients, focusing on gene therapy, rare disease, and oncology strategies. Prior to CRA, he led teams in a boutique consulting firm and worked on commercial and corporate strategy in the biopharmaceutical industry. His academic background includes a Master’s in Chemical Engineering from Columbia University and a Bachelor’s in Chemical Biological Engineering from MIT. This addition aims to enhance CRA’s capabilities in addressing client challenges.
Charles River Associates (CRAI) has announced the promotion of six professionals to vice president roles within its consulting services. The newly appointed vice presidents include Sean Sheridan, Eddie Li, Erika Sloan, Griff Vinton, Uğur Akgün, and Vicki Mertzanidou. Each brings extensive expertise in their respective fields, such as Intellectual Property, Life Sciences, and Antitrust & Competition Economics. This strategic move is aimed at enhancing client service and fostering the company's growth and development. CRA's president, Paul Maleh, expressed pride in the achievements of the promoted leaders and their contributions to the firm.
Charles River Associates (NASDAQ: CRAI) has appointed Alpaslan Dilekci as Vice President in its Energy Practice in Europe, aiming to enhance capabilities in Germany and Central Europe. Dilekci brings extensive experience in energy markets and complex infrastructure projects, previously founding startups focused on renewables and EV infrastructure in Germany. His expertise is expected to broaden CRA's service offerings, addressing the dynamic energy landscape. CRA's Energy Practice serves various industry clients, including utilities and investors, from multiple global offices. The announcement underscores CRA's commitment to growth in the energy sector.
Charles River Associates (NASDAQ: CRAI) will present at the Sidoti Small-Cap Virtual Conference on March 22, 2023, at 10:45 a.m. ET. The presentation will feature Chairman and CEO Paul Maleh, along with CFO Daniel Mahoney and Chief Corporate Development Officer Chad Holmes, who will engage in virtual one-on-one meetings with investors on March 22 and 23. A live webcast will be accessible via the Company's investor relations website. CRA is a leading global consulting firm specializing in economic, financial, and management consulting services, providing unique solutions to complex business issues since 1965.
CRA International, Inc. (NASDAQ: CRAI) announced an RFP auction for FirstEnergy Corp.'s (NYSE: FE) Ohio utilities, aimed at procuring full requirements service for Percentage of Income Payment Plan (PIPP) customers. The auction, managed by CRA, will obligate the winning supplier to serve all PIPP loads for June 2023 through May 2024. An information session for prospective bidders is scheduled for March 9, with supplier applications open from March 10 to March 23, and bids from registered bidders due on March 28. This initiative underscores CRA's expertise in economic and management consulting services.
Charles River Associates (NASDAQ: CRAI) reported record revenue and profits for the fourth quarter and fiscal year ended December 31, 2022. Fourth-quarter revenue increased by 7.6% year-over-year to $145.0 million, with a notable 8.2% growth from North America. Full-year revenue rose 4.4% to $590.9 million, and net income grew 4.7% to $43.6 million. The company announced a $20 million increase in its share repurchase authorization and a dividend payment of $0.36 per share. Guidance for FY 2023 anticipates revenue between $615 million and $640 million.
Charles River Associates (CRAI) announced a quarterly cash dividend of $0.36 per common share, scheduled for payment on March 24, 2023. Shareholders of record as of the close of business on March 14, 2023 will receive this dividend. CRA emphasizes its intent to continue paying quarterly dividends, subject to the discretion of its Board of Directors. This announcement reflects the company's commitment to returning value to its shareholders amid ongoing economic conditions and operational strategies.
Charles River Associates (CRAI) will host a live webcast of its fourth-quarter 2022 financial results conference call on March 2, 2023, at 10:00 a.m. ET. Key executives including President and CEO Paul Maleh, CFO Daniel Mahoney, and Chief Corporate Development Officer Chad Holmes will participate. Investors can access the call via the Investor Relations section of CRA's website. A press release detailing the fourth-quarter financial results and CFO remarks will be posted prior to the call. An archived version of the webcast will be available for one year.
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