Perficient, Inc. (NASDAQ: PRFT) reported Q3 EPS of $0.34, in-line with the analyst estimate of $0.34. Revenue for the quarter came in at $123.7 million versus the consensus estimate of $127.4 million.

Business Outlook

Perficient expects its fourth quarter 2017 services and software revenue, including reimbursed expenses, to be in the range of $126.0 million to $140.0 million, comprised of $113.0 million to $119.0 million of revenue from services including reimbursed expenses and $13.0 million to $21.0 million of revenue from sales of software. Fourth quarter adjusted earnings per share (a non-GAAP measure; see attached schedule which reconciles to GAAP earnings per share guidance) is expected to be in the range of $0.32 to $0.38.

Perficient is adjusting and narrowing its previously provided full year 2017 revenue guidance to a range of $477.8 million to $491.8 million, and narrowing its full year 2017 adjusted earnings per share guidance (a non-GAAP measure; see attached schedule which reconciles to GAAP earnings per share guidance) to a range of $1.18 to $1.24.

GUIDANCE:

Perficient, Inc. sees FY2017 EPS of $1.18-$1.24, versus the consensus of $1.23. Perficient, Inc. sees FY2017 revenue of $477.8-491.8 million, versus the consensus of $494.33 million.

Financial Highlights

For the quarter ended September 30, 2017:

• Revenue increased 4% to $123.7 million from $119.2 million for the third quarter of 2016;
• Services revenue increased 11% to $114.1 million from $103.0 million for the third quarter of 2016;
• Gross margin increased 17% to $42.6 million from $36.4 million for the third quarter of 2016;
• Net income increased 27% to $7.0 million from $5.5 million for the third quarter of 2016;
• GAAP earnings per share results on a fully diluted basis increased to $0.21 from $0.16 for the third quarter of 2016;
• Adjusted earnings per share results (a non-GAAP measure; see attached schedule, which reconciles to GAAP earnings per share) on a fully diluted basis increased to $0.34 from $0.26 for the third quarter of 2016; and
• EBITDAS (a non-GAAP measure; see attached schedule, which reconciles to GAAP net income) increased to $19.2 million from $15.1 million for the third quarter of 2016.

For earnings history and earnings-related data on Perficient, Inc. (PRFT) click here.