Company: CRAI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001053706-25-000029
Chunk: 37

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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, selling, general and administrative expenses decreased to 18.3% for the fiscal year-to-date period ended September 27, 2025 from 18.4% for the fiscal year-to-date period ended September 28, 2024. Commissions to our non-employee experts decreased to 2.1% of revenues for the fiscal year-to-date period ended September 27, 2025 compared to 2.3% of revenues for the fiscal year-to-date period ended September 28, 2024.

Provision for Income Taxes. The income tax provision was $16.4 million and the ETR was 28.3% for the fiscal year-to-date period ended September 27, 2025, compared to $13.0 million and 29.1% for the fiscal year-to-date period ended September 28, 2024. The ETR for the fiscal year-to-date period ended September 27, 2025 was lower than the fiscal year-to-date period ended September 28, 2024 primarily due to the impact of state tax law changes effective for fiscal 2025, partially offset by the remeasurement of deferred tax assets and an increase to a prior year tax reserve, both noted above. The ETR for the current and prior fiscal year-to-date periods were both higher than the combined federal and state statutory 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 FDII deduction.

Net Income. Net income increased by $9.9 million to $41.6 million for the fiscal year-to-date period ended September 27, 2025 from $31.7 million for the fiscal year-to-date period ended September 28, 2024. The diluted net income per share was $6.16 for the fiscal year-to-date period ended September 27, 2025, compared to diluted net income per share of $4.57 for the fiscal year-to-date period ended September 28, 2024. Weighted average diluted shares outstanding decreased by approximately 177,000 shares to approximately 6,745,000 shares for the fiscal year-to-date period ended September 27, 2025 from approximately 6,922,000 shares for the fiscal year-to-date period ended September 28, 2024. The decrease in weighted average diluted shares outstanding was primarily due to the repurchase of shares of our common stock since September