Perficient, Inc. (NASDAQ: PRFT) reported Q1 EPS of $0.43, $0.04 better than the analyst estimate of $0.39. Revenue for the quarter came in at $133.8 million versus the consensus estimate of $131.64 million.

For the quarter ended March 31, 2019:

• Services revenue increased 11% to $132.9 million from $120.2 million in the first quarter of 2018;
• Total revenue increased 11% to $133.8 million from $120.9 million in the first quarter of 2018;
• Net income increased 43% to $7.0 million from $4.9 million in the first quarter of 2018;
• GAAP earnings per share results on a fully diluted basis increased 47% to $0.22 from $0.15 in the first quarter of 2018;
• 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 23% to $0.43 from $0.35 in the first quarter of 2018; and
• EBITDAS (a non-GAAP measure; see attached schedule, which reconciles to GAAP net income) increased 17% to $19.7 million from $16.9 million in the first quarter of 2018.

“Our first quarter performance was strong and we expect that momentum to continue as 2019 unfolds,” said Jeffrey Davis, chairman and CEO. “Enterprises are increasingly realizing that Perficient is a unique and compelling digital transformation consultancy and are recognizing and rewarding the value we deliver by extending, enhancing and expanding their investment with us. Our sales, marketing and delivery teams continue to help us take share, our pipeline continues to grow and we’re seeing strength across verticals, platforms and high-growth disciplines like cloud and digital.”

GUIDANCE:

Perficient, Inc. sees Q2 2019 EPS of $0.46-$0.49, versus the consensus of $0.41. Perficient, Inc. sees Q2 2019 revenue of $132-138 million, versus the consensus of $131.01 million.

Perficient, Inc. sees FY2019 EPS of $1.80-$1.92, versus the consensus of $1.70. Perficient, Inc. sees FY2019 revenue of $535-560 million, versus the consensus of $531.46 million.

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