Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 78

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 78
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 tax rate primarily due to nondeductible executive compensation and nondeductible meals and entertainment expenses, partially offset by the tax benefit related to share-based compensation and the Foreign-Derived Intangible Income (“FDII”) deduction.

Net Income. Net income remained relatively unchanged at $11.5 million for the third quarter of fiscal 2025 compared to the third quarter of fiscal 2024. The net income per diluted share was $1.73 per share for the third quarter of fiscal 2025, compared to $1.67 of net income per diluted share for the third quarter of fiscal 2024. Weighted average diluted shares outstanding decreased by approximately 222,000 shares to approximately 6,621,000 shares for the third quarter of fiscal 2025 from approximately 6,843,000 shares for the third quarter of fiscal 2024. The decrease in weighted average diluted shares outstanding was primarily due to the repurchase of shares of our common stock since September 28, 2024, offset in part by the vesting of shares of restricted stock and time-vesting restricted stock units since September 28, 2024.

Fiscal Year-to-Date Period Ended September 27, 2025, Compared to the Fiscal Year-to-Date Period Ended September 28, 2024

Revenues. Revenues increased by $43.6 million, or 8.5%, to $554.6 million for the fiscal year-to-date period ended September 27, 2025 from $511.0 million for the fiscal year-to-date period ended September 28, 2024. Utilization increased to 76% for the fiscal year-to-date period ended September 27, 2025 from 75% for the fiscal year-to-date period ended September 28, 2024, while consultant headcount decreased from 978 at the end of the third quarter of fiscal 2024 to 968 at the end of the third quarter of fiscal 2025. 

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Overall, revenues outside of the U.S. represented approximately 19% and 18% of net revenues for the fiscal year-to-date periods ended September 27, 2025 and September 28, 2024, respectively. Revenues derived from fixed-price projects decreased to 16% of net revenues for the fiscal year-to-date periods ended September 27, 2025 compared to 18% of net revenues for the third quarter of fiscal 2024. The percentage of revenue derived from