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Charles River Associates (CRA) Reports Financial Results for the First Quarter of 2025
Broad-based Contributions Drive Record Quarterly Revenue and Profits BOSTON--(BUSINESS WIRE)-- Charles River Associates (NASDAQ: CRAI), a worldwide leader in
About this update from Cra International,inc.
[{"type":"text","content":"\nBroad-based Contributions Drive Record Quarterly Revenue and Profits\n\n BOSTON--(BUSINESS WIRE)--\n\nCharles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fiscal first quarter ended March 29, 2025.\n\n“Building on the momentum of an exceptional fiscal 2024, CRA continued its strong performance into the first quarter, setting new records for financial results,” said Paul Maleh, CRA’s President and Chief Executive Officer. “Revenue increased by 5.9% to $181.9 million, which represents the highest quarterly revenue in the company’s history. Profits grew at even faster rates, with net income, earnings per diluted share and EBITDA setting new quarterly records. Broad-based contributions drove the quarter’s strong performance, with five practices growing year over year. Four practices—Energy, Finance, Intellectual Property, and Life Sciences— posted double-digit revenue growth, while the Antitrust & Competition Economics practice posted a new high for quarterly revenue.”\n\nHighlights for First Quarter Fiscal 2025\n\n\nRevenue grew 5.9% year over year to $181.9 million.\n\n\nUtilization was 76% and quarter-end headcount decreased 5.0% year over year.\n\n\nNet income increased 31.5% year over year to $18.0 million, or 9.9% of revenue, compared with $13.7 million, or 8.0% of revenue, in the first quarter of fiscal 2024; non-GAAP net income increased 10.5% year over year to $15.3 million, or 8.4% of revenue, compared with $13.8 million, or 8.0% of revenue, in the first quarter of fiscal 2024.\n\n\nEarnings per diluted share increased 34.4% year over year to $2.62 from $1.95 in the first quarter of fiscal 2024; non-GAAP earnings per diluted share increased 13.3% year over year to $2.22 from $1.96 in the first quarter of fiscal 2024.\n\n\nNon-GAAP EBITDA increased 10.6% to $24.8 million, or 13.6% of revenue, compared with $22.4 million, or 13.0% of revenue, in the first quarter of fiscal 2024.\n\n\nOn a constant currency basis relative to the first quarter of fiscal 2024, revenue would have been higher by $0.4 million, while GAAP net income and earnings per diluted share would have been lower by $0.1 million and $0.01 per diluted share, respectively. Non-GAAP net income, earnings per diluted share, and non-GAAP EBITDA wou...