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CRA International Inc. (CRAI), operating as Charles River Associates, is a globally recognized consulting firm specializing in providing expert advisory services in economic, financial, litigation, regulatory, and management consulting. Founded in 1965 and headquartered in Boston, Massachusetts, CRAI has established itself as a trusted partner for businesses, government agencies, and trade associations seeking objective and data-driven solutions to complex challenges.
Core Business Areas
CRAI's operations are structured around delivering high-value consulting services across several critical domains:
- Litigation and Regulatory Consulting: The company provides economic and financial analysis to support litigation and regulatory proceedings, assisting clients in navigating complex legal and compliance landscapes.
- Management Consulting: CRAI advises businesses on strategic and operational issues, helping them optimize performance, enhance efficiency, and achieve long-term goals.
- Financial Advisory: The firm offers expert guidance on financial matters, including valuation, risk management, and transaction advisory.
Global Reach and Industry Expertise
With offices spanning multiple countries, including the United States and the United Kingdom, CRAI serves a diverse clientele ranging from multinational corporations to government entities and trade associations. The firm's industry expertise is broad, covering sectors such as healthcare, energy, telecommunications, and financial services. This extensive knowledge base enables CRAI to tailor its consulting services to the specific needs of each client, ensuring actionable and impactful outcomes.
Revenue Model
CRAI primarily generates revenue through project-based engagements and long-term advisory retainers. Its business model relies on delivering bespoke solutions that address the unique challenges faced by its clients. By combining technical expertise with strategic insights, CRAI creates significant value, justifying its premium consulting fees.
Competitive Landscape
Operating in the highly competitive professional services industry, CRAI faces competition from global consulting giants such as McKinsey & Company, Boston Consulting Group, and specialized firms focusing on economic and financial consulting. CRAI differentiates itself through its unique blend of functional expertise and deep industry knowledge, as well as its commitment to providing objective, data-driven solutions.
Significance in the Industry
CRAI plays a pivotal role in addressing critical business and regulatory challenges. Its ability to provide rigorous analysis and strategic guidance makes it an indispensable partner for organizations navigating complex environments. By leveraging its global presence and multidisciplinary expertise, CRAI continues to be a key player in the consulting industry.
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.
Charles River Associates (CRAI) announced the addition of Jeffrey A. Garfield and Waqas Shahid as Vice Presidents in its Forensic Services Practice. Garfield brings nearly 20 years of experience in financial and fraud investigations, while Shahid is an expert in regulatory and compliance issues. The firm aims to bolster its capabilities to assist clients in detecting and responding to fraud and misconduct, leveraging expertise to provide scalable, data-driven solutions. CRA's Forensic Services Practice is recognized for its commitment to delivering high-quality service and deep insights, enhancing its position in the industry.
Charles River Associates (NASDAQ: CRAI) has announced the addition of Alexandra Knatchbull as a vice president in its Risk, Investigations & Analytics Practice, starting January 30, 2023. Knatchbull, an accomplished investigative professional with over 15 years of experience, will lead investigative efforts in Europe. Her background includes roles in dispute resolution, fraud investigations, and risk management. Paul Maleh, CRA's CEO, highlighted her expertise in complex legal and business challenges. The move is aimed at bolstering CRA's service capabilities in a competitive market.
Charles River Associates (NASDAQ: CRAI) announced its participation in the Sidoti Small-Cap Virtual Conference scheduled for December 7, 2022. Chairman and CEO Paul Maleh will present at 10:45 a.m. ET, with a live webcast available on the company's investor relations website. Additionally, CFO Daniel Mahoney and Chief Corporate Development Officer Chad Holmes will conduct one-on-one meetings with investors. CRA is renowned for its economic, financial, and management consulting services, serving clients globally since 1965.
Charles River Associates (NASDAQ: CRAI) announced its acquisition of bioStrategies Group, Inc. on November 29, 2022, expanding its Life Sciences Practice. The acquisition involves purchasing substantially all assets and retaining 17 employees, including notable figures Mike Kaestle and Chris Schneider as vice presidents. This move is expected to enhance CRA's capabilities in commercial strategy development for healthcare products. The leadership emphasized the synergies and expertise that the bioStrategies team will bring to address client needs.
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