Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that Mark E. Zmijewski, the Leon Carroll Marshall Professor of Accounting at the University of Chicago Booth School of Business, has entered into an agreement to become a senior consultant to CRA’s Financial Accounting & Valuation Practice. Professor Zmijewski is expected to begin working with CRA in May 2013. “Mark Zmijewski is a leading authority on financial accounting and valuation matters and we look forward to working with him as a senior consultant to Charles River Associates,” said CRA's President and Chief Executive Officer Paul Maleh. “For more than 30 years, Professor Zmijewski has researched, taught, and consulted on financial accounting and valuation issues. We expect that his deep and broad expertise will benefit clients facing challenges and concerns in these areas.” Professor Zmijewski is a chaired professor and former deputy dean at the University of Chicago Booth School of Business. He has also been the Executive Director of the University of Chicago’s Center for Research in Security Prices. His academic research focuses on valuation, security analysis, and the effect of financial disclosures on capital market participants and security prices. Professor Zmijewski’s research has been published in leading academic journals, including the Journal of Financial Statement Analysis; the Journal of Accounting, Auditing, and Finance; the Journal of Accounting Research; and the Journal of Accounting. In addition, Professor Zmijewski has served on the editorial boards for the Journal of Accounting and the Accounting Review, where he was also an associate editor. In addition, he is an ad hoc referee for nearly a dozen journals. Professor Zmijewski also consults on matters relating to accounting, financial analysis, valuation, mergers and acquisitions, securities litigation, damages awards, bankruptcy, solvency, due diligence, interest rates, and revenue recognition. His expertise has been applied to many sectors, including computer hardware and software, credit card and credit card security, banking, securities, retail, airline, automobile, energy, and consumer products.
Professor Zmijewski is the recipient of the Emory Williams Award for Excellence in Teaching and the Hillel J. Einhorn Excellence in Teaching Award, both from the University of Chicago Booth School of Business. Professor Zmijewski earned his BA degree, MBA degree in Accounting, and PhD degree with a major in Accounting and minors in Economics and Finance, all from the State University of New York at Buffalo.About Charles River Associates (CRA) Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout North America, Europe, the Middle East, and Asia. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com. Statements in this press release concerning Mark E. Zmijewski, his expected start date with CRA, the future business, operating results, estimated cost savings, and financial condition of the Company and statements using the terms "anticipates," "believes," "expects," "should," "prospects," "target," or similar expressions are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by the Company include, among others, Dr. Zmijewski’s actual start date with CRA, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's stock-based compensation, dependence on key personnel, attracting, recruiting and retaining qualified consultants, dependence on outside experts, utilization rates, completing acquisitions and factors related to its completed acquisitions, including integration of personnel, clients and offices, and unanticipated expenses and liabilities, the risk of impairment write downs to the Company's intangible assets, including goodwill, if the Company's enterprise value declines below certain levels, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect the Company's practice areas, management of new offices, the potential loss of clients, the ability of customers to terminate the Company's engagements on short notice, dependence on the growth of the Company's management consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, general economic conditions, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's periodic filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.