CRA International (CRA) Launches The New Information Website For FirstEnergy’s Pennsylvania Utilities’ Upcoming Default Service Program Power Procurements
International, Inc. (NASDAQ: CRAI), a worldwide leader in providing
financial, and management consulting services, today announced their
release of the new Auction Information Website for Metropolitan...
CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced their release of the new Auction Information Website for Metropolitan Edison Company (“Met-Ed”), Pennsylvania Electric Company (“Penelec”), Pennsylvania Power Company (“Penn Power”), and West Penn Power Company (“West Penn Power”). Each of the Companies is seeking to procure full requirements Default Supply generation service for their Default Service Customers for the delivery period June 1, 2013 through May 31, 2015. As Independent Evaluator, CRA will manage each auction process. A simultaneous, multiple-round, descending-price clock auction format will be used. For additional information, the Information Website URL is http://www.fepaauction.com/. About CRA’s Auctions & Competitive Bidding Practice For over 15 years, CRA has been offering businesses, governments, and other market participants extensive experience in the design, implementation, and monitoring of auctions and other transaction mechanisms as well as in advising bidders in these market mechanisms. CRA has developed and/or managed auctions and other market mechanisms for a range of industries including energy, commodities, telecommunications, transportation, oil and gas, natural resources, and metals & minerals. About CRA International / 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 the world. 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 the Auctions & Competitive Bidding Practice, CRA’s role as the Independent Evaluator for Met-Ed, Penelec, Penn Power, and West Penn Power, 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, 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.
Shares of CRA International (Nasdaq:CRAI) have taken a tremendous swing upward. The stock is trading at $24.92 as of 11:21 a.m. ET, 23.4% above Wednesday's closing price of $20.19. Volume is at 20,984, 0.5 times the daily average of 40,100.