Hackett Group Inc. (HCKT, Financial) filed Quarterly Report for the period ended 2010-04-02.
Hackett Group Inc. has a market cap of $116.3 million; its shares were traded at around $2.81 with and P/S ratio of 0.8. HCKT is in the portfolios of Jim Simons of Renaissance Technologies LLC, Chuck Royce of Royce& Associates.
As of April 2, 2010 and January 1, 2010, we had $15.1 million and $15.0 million, respectively, classified in cash and cash equivalents in the accompanying consolidated balance sheets. During these same periods, we had $1.5 million on deposit with financial institutions that served as collateral for letters of credit for operating leases and for amounts related to employee agreements. These deposit accounts have been classified as restricted cash on the consolidated balance sheets.
Net cash used in investing activities was $0.6 million for the quarter ended April 2, 2010, as compared to net cash used in investing activities of $0.5 million for the quarter ended April 3, 2009. Cash used in investing activities for the quarter ended April 2, 2010 was primarily attributable to capital expenditures.
Net cash used in investing activities in the quarter ended April 3, 2009 was primarily attributable to $0.9 million in capital expenditures, partially offset by $0.5 million of Bank of Americas Columbia Strategic Cash Portfolio redemptions.
Net cash used in financing activities was $83 thousand for the quarter ended April 2, 2010, as compared to $2.1 million for the quarter ended April 3, 2009. Cash used in financing activities for the quarter ended April 2, 2010 was attributable to the repurchase of 33 thousand shares of our common stock at an average price of $2.51 per share, for a total cost of $83 thousand. Net cash used in financing activities for the quarter ended April 3, 2009 was attributable to the repurchase of 1.0 million shares of our common stock at an average price of $2.08 per share, for a total cost of $2.1 million.
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Hackett Group Inc. has a market cap of $116.3 million; its shares were traded at around $2.81 with and P/S ratio of 0.8. HCKT is in the portfolios of Jim Simons of Renaissance Technologies LLC, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Income Taxes. We recorded income tax expense of $110 thousand for the quarter ended April 2, 2010, which reflected an estimated annual tax rate of 0.4% for certain federal and state taxes. For the quarter ended April 3, 2009, we recorded income taxes of $63 thousand which reflected estimated annual tax rates of 7.0% for certain federal and state taxes.As of April 2, 2010 and January 1, 2010, we had $15.1 million and $15.0 million, respectively, classified in cash and cash equivalents in the accompanying consolidated balance sheets. During these same periods, we had $1.5 million on deposit with financial institutions that served as collateral for letters of credit for operating leases and for amounts related to employee agreements. These deposit accounts have been classified as restricted cash on the consolidated balance sheets.
Net cash used in investing activities was $0.6 million for the quarter ended April 2, 2010, as compared to net cash used in investing activities of $0.5 million for the quarter ended April 3, 2009. Cash used in investing activities for the quarter ended April 2, 2010 was primarily attributable to capital expenditures.
Net cash used in investing activities in the quarter ended April 3, 2009 was primarily attributable to $0.9 million in capital expenditures, partially offset by $0.5 million of Bank of Americas Columbia Strategic Cash Portfolio redemptions.
Net cash used in financing activities was $83 thousand for the quarter ended April 2, 2010, as compared to $2.1 million for the quarter ended April 3, 2009. Cash used in financing activities for the quarter ended April 2, 2010 was attributable to the repurchase of 33 thousand shares of our common stock at an average price of $2.51 per share, for a total cost of $83 thousand. Net cash used in financing activities for the quarter ended April 3, 2009 was attributable to the repurchase of 1.0 million shares of our common stock at an average price of $2.08 per share, for a total cost of $2.1 million.
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