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Perficient Reports Second Quarter 2012 Results

Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout North America, today reported financial results for the quarter ended June 30, 2012.

Financial Highlights

For the quarter ended June 30, 2012:

  • Revenues increased 25% to $81.8 million from $65.6 million for the second quarter 2011;
  • Services revenue increased 23% to $72.7 million from $59.2 million for the second quarter 2011;
  • Adjusted earnings per share results (a non-GAAP measure; see attached schedule, which reconciles to GAAP earnings per share) on a fully diluted basis increased to $0.24 from $0.21 for the second quarter 2011;
  • Earnings per share results on a fully diluted basis increased to $0.12 from $0.10 for the second quarter 2011;
  • EBITDAS (a non-GAAP measure; see attached schedule, which reconciles to GAAP net income) increased 21% to $12.5 million from $10.3 million for the second quarter 2011; and
  • Net income increased 30% to $3.6 million compared to $2.8 million for the second quarter 2011.

“Momentum from our strong first quarter bookings drove record revenues during the quarter,” said Jeffrey Davis, Perficient’s chief executive officer and president. “Our strong first half performance, coupled with the successful completion of two recent acquisitions enable us to raise our full-year revenue guidance range.”

Other Highlights

Among other recent achievements, Perficient:

-- Added new customer relationships and follow-up projects with leading companies including: 7-Eleven, Blue Cross Blue Shield Massachusetts, Carolina Health Systems, Lexmark, NASCO, Neiman Marcus, Premier, Principal Financial, Texas Health Resources and many others;

-- Completed the acquisition of Dallas-based Nascent Systems, a $17 million annual services revenue business and technology consulting firm focused on Oracle ERP solutions, utilizing the Oracle E-Business Suite;

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