(Updated - March 4, 2021 8:23 AM EST)

Charles River Associates (NASDAQ: CRAI) reported Q4 EPS of $0.95, $0.18 better than the analyst estimate of $0.77. Revenue for the quarter came in at $137.4 million versus the consensus estimate of $128.27 million.

Management Commentary and Financial Guidance:

“In 2020, with the hard work and dedication of my colleagues, CRA delivered record-setting results,” said Maleh. “For the full year, on a constant currency basis, we exceeded our revenue guidance of $498 million to $504 million and achieved the upper half of our non-GAAP EBITDA margin guidance range of 9.7% to 10.2%. To elaborate, fiscal year 2020 revenue on a constant currency basis was $507.9 million, consisting of $508.4 million of reported results less a $0.5 million adjustment for currency tailwinds. Full-year non-GAAP EBITDA and non-GAAP EBITDA margin were unchanged on a constant currency basis at $50.7 million and 10.0%, respectively.”

“Going forward, we look to build on our trend of broad-based, profitable growth while striving to be the firm of choice for our clients’ most important litigation, regulatory, and strategic challenges,” continued Maleh. “For the full-year fiscal 2021, on a constant currency basis relative to fiscal 2020, we expect revenue in the range of $530 million to $550 million, and non-GAAP EBITDA margin in the range of 9.5% to 10.2%. While we are pleased with CRA’s strong performance in 2020, we remain mindful that uncertainties around global economic, business, health, and political conditions can affect our business.”

CRA does not provide reconciliations of its annual non-GAAP EBITDA margin guidance to GAAP net income margin because the Company is unable to estimate with reasonable certainty unusual gains or charges, foreign currency exchange rates, and the resulting effect of these items, and of equity awards, on CRA’s taxes without unreasonable effort. These items are uncertain, depend on various factors, and may have a material effect on CRA’s results computed in accordance with GAAP. A reconciliation between the historical GAAP and non-GAAP financial measures presented in this release is provided in the financial tables at the end of this release.

(Consensus sees FY revenue of $517.1 million)

For earnings history and earnings-related data on Charles River Associates (CRAI) click here.