Upcoming AWS Coverage on FTI Consulting Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 11, 2017 / Active Wall St. blog coverage looks at the headline from business strategy and consulting company The Hackett Group, Inc. (NASDAQ: HCKT) as the Company announced on May 09, 2017, that it had acquired Jibe Consulting Inc. to enhance the Company's Cloud Applications capabilities. The Company also revealed its financial results for Q1 2017 for the period ending on March 31, 2017. Register with us now for your free membership and blog access at:

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One of Hackett Group's competitors within the Management Services space, FTI Consulting, Inc. (NYSE: FCN), released on April 27, 2017, its financial results for the quarter ended March 31, 2017. AWS will be initiating a research report on FTI Consulting in the coming days.

Today, AWS is promoting its blog coverage on HCKT; touching on FCN. Get all of our free blog coverage and more by clicking on the link below:

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Jibe is a Bellevue, Washington based management and technology consulting firm that is an Oracle Platinum Partner and is focused on implementing Oracle Enterprise Resource Planning (ERP) and Human Capital Management (HCM) solutions. It helps its clients get results and streamline its processes using Oracle's various software solutions.

The Hackett Group will pay $9 million in cash plus stock along with the provision for contingent payment of $11 million on achieving pre-agreed performance targets. The contingent payment will also be payable in a mix of cash plus stock.

Sharing his views on the matter, Shane Moncrieff, Jibe Consulting President said:

"Bringing together The Hackett Group's benchmarking capability and best practice insights with Jibe's acumen for implementing the Oracle Cloud Business Applications will provide clients with tremendous opportunities to streamline their processes and adopt practices that will have a measurable impact on their business. We are excited to enhance the Cloud ERP and HCM capability of The Hackett Group's EEA practice."

In April 2017, the Company had acquired UK based Aecus Limited, a European outsourcing advisory and robotics process automation ("RPA") consulting firm for £3.2 million in cash with additional £3.0 million payable in cash on achievement of pre-agreed milestones. The acquisition complemented Hackett Group's global strategy and business transformation services.

Commenting on the acquisitions, Ted A. Fernandez, Chairman and CEO of Hackett Group said:

"We reported solid operating results but more importantly, the acquisitions and alliances announced, significantly accelerate our position in critical digital transformation areas. We believe that the opportunities provided from the rapidly emerging Digital Transformation era are significant and enhancing our existing capabilities were strategic priorities."

Advantages of acquiring Jibe

The acquisition will enhance the Company's capabilities to support the clients' implementation of the entire Oracle Cloud Business Application from finance, procurement, and manufacturing to supply chain and human capital.

The Company's ERP, Enterprise Performance Management, and Analytics (EEA) practice will greatly benefit from the acquisition as it will allow the Company to implement Oracle enterprise applications in the cloud along with its other intellectual property and research in business processes.

The acquisition will allow the Company to meet the clients' need to implement Oracle cloud applications and thereby capturing the opportunities in the rapidly growing market.

The acquisition allows the Company to fulfill its goal of "embedding the Company's intellectual property via digital delivery vehicles" and help the Company in becoming a leading partner committed to Oracle's cloud platform.

Q1 2017 results

The Company reported revenue of $71.4 million for the quarter which was 4%-5% up compared to Q1 2016.

Hackett Group reported a pro-forma diluted EPS of $0.23, which was 15% higher than the pro-forma diluted EPS for Q1 2016.

The Company also bought 233 thousand common stock shares for $4.1 million at an average price of $17.58 per share as part of its stock repurchase program.

Hackett Group has also declared a semi-annual dividend of $0.15 per share payable on July 11, 2017.

Guidance for Q2 2017

Given the current economic scenario, Hackett Group expects that its revenue for Q2 2017 will be in the range of $73.5 million - $75.5 million. Its pro-forma diluted EPS for Q2 2017 will be in the range of $0.24 - $0.26.

Stock Performance

At the closing bell on May 10, 2017, the stock closed the trading session at $15.65, tumbling 22.68% from its previous closing price of $20.24. A total volume of 1.20 million shares have exchanged hands, which was higher than the 3-month average volume of 170.94 thousand shares. Hackett Group's stock price gained 4.04% in the previous twelve months. The stock has a dividend yield of 1.66% and is currently trading at a price to equity ratio of 23.82. Additionally, shares of the Company have a market capital of $453.69 million.

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SOURCE: Active Wall Street