Company: CRAI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001053706-25-000014
Chunk: 70

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 70
---
 that our Board of Directors authorized an expansion of our existing share repurchase program of an additional $45.0 million of our common stock. We may repurchase shares under this program in open market purchases (including through any Rule 10b5-1 plan adopted by us) or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations.

During the fiscal quarter ended March 29, 2025, we did not repurchase any shares under this share repurchase program. During the fiscal quarter ended March 30, 2024, we repurchased and retired 65,882 shares under our share repurchase program at an average price per share of $140.29. We had approximately $58.1 million available for future repurchases under our share repurchase program as of March 29, 2025. We plan to finance future repurchases with available cash, cash from future operations, and borrowings available under our revolving credit facility. We expect to continue to repurchase shares under our share repurchase program.

Dividends to Shareholders

We anticipate paying regular quarterly dividends each year. These dividends are anticipated to be funded through cash flow from operations, available cash on hand, and/or borrowings available under our revolving credit facility. Although we anticipate paying regular quarterly dividends on our common stock for the foreseeable future, the declaration, timing and amounts of any such dividends remain subject to the discretion of our Board of Directors. During the fiscal quarter ended March 29, 2025, we paid dividends and dividend equivalents of $3.5 million. During the fiscal quarter ended March 30, 2024, we paid dividends and dividend equivalents of $3.1 million.

Impact of Inflation

To date, inflation has not had a material impact on our financial results. There can be no assurance, however, that inflation will not adversely affect our financial results in the future.

Future Capital and Liquidity Needs

We anticipate that our future capital and liquidity needs will principally consist of funds required for:

•operating and general corporate expenses relating to the operation of our business, including the compensation of our employees under various annual bonus or long-term incentive compensation programs;

•the hiring of individuals to replenish and expand our employee base;

•capital expenditures, primarily for information technology equipment, office furniture and leasehold improvements;

•debt service and repayments, including interest payments on borrowings from our revolving credit facility;

•share repurchases under programs that we may have in effect from time to time;