Perficient, Inc. (NASDAQ: PRFT) reported Q4 EPS of $0.37, $0.02 better than the analyst estimate of $0.35. Revenue for the quarter came in at $133.5 million versus the consensus estimate of $119.69 million.

For the quarter ended December 2017:

• Revenue increased 12% to $133.5 million from $119.6 million for the fourth quarter of 2016;
• Services revenue increased 17% to $114.4 million from $98.0 million for the fourth quarter of 2016;
• The effective tax rate decreased to a benefit of 44.2% from an expense of 40.5% for the fourth quarter of 2016 due to the enactment of the Tax Cuts and Jobs Act of 2017 (the “2017 Tax Act”), which resulted in the revaluation of the Company’s deferred income tax liability from 35% to 21%, among other transitional adjustments;
• Net income increased 74% to $6.4 million from $3.7 million for the fourth quarter of 2016;
• GAAP earnings per share results on a fully diluted basis increased to $0.19 from $0.11 for the fourth 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 $0.37 from $0.27 for the fourth quarter of 2016; and
• EBITDAS (a non-GAAP measure; see attached schedule, which reconciles to GAAP net income) increased 34% to $20.7 million from $15.4 million for the fourth quarter of 2016.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. See “Safe Harbor Statement” below.

Perficient expects its first quarter 2018 revenue to be in the range of $115.0 million to $119.0 million. First 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 $0.35.

The company is issuing its full year 2018 revenue guidance range of $470.0 million to $500.0 million, its 2018 GAAP earnings per share guidance of $0.68 to $0.82 and 2018 adjusted earnings per share (a non-GAAP measure; see attached schedule which reconciles to GAAP earnings per share guidance) range of $1.40 to $1.52.

GUIDANCE:

Perficient, Inc. sees FY2018 EPS of $1.40-$1.52, versus the consensus of $1.44. Perficient, Inc. sees FY2018 revenue of $470-500 million, versus the consensus of $478.68 million.

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