Tuesday, provider of economic, financial, and management consulting services, CRA International, Inc. (CRAI), reported a profit for the second quarter compared to loss in the same quarter last year despite drop in revenues reflecting the uncertain economic environment. Adjusted earnings, though down from last year, came in ahead of analysts' consensus by three cents.
For the second quarter, the Boston, Massachusetts-based company reported net income of $1.7 million or $0.16 per share, compared with a loss of $0.51 million or $0.05 per share in the prior-year quarter.
Excluding items, net income for the quarter dropped to $3.3 million or $0.31 per share from $5.2 million or $0.48 per share in the year-ago quarter.
On average, four analysts polled by Thomson Reuters expected the company to earn $0.28 a share for the quarter. Analysts' estimates typically exclude one-time charges and gains.
Quarterly net revenues dropped to $72.0 million from $93.8 million last year, yet topping analysts' consensus revenue estimate of $67.87 million for the quarter.
On an adjusted basis, revenue for the quarter decreased to $69.3 million from $93.8 million last year.
James Burrows,President and Chief Executive Officer, CRA said, "During the second quarter, we experienced increased activity related to large Global Industrial Consulting projects in the Middle East region - an area where we have been focusing our business development efforts for several quarters. We anticipate that the increased level of activity should continue for the remainder of the fiscal year in this region."
For the six-months period, net income declined to $2.43 million or $0.23 per share from $2.63 million or $0.24 per share in the same period last year. Excluding items, net income for the six months dropped sharply to $5.45 million or $0.51 per share from $9.01 million or $0.81 per share last year.
Revenues for the period dropped to $138.00 million from $180.00 million, while adjusted revenues dropped to $134.00 million from $180.00 million in the same period of last year.
Looking ahead, CRA International indicated that given the unsettled nature of current legal, regulatory and business conditions around the world, it may take some time for client demand to fully rebound in litigation and across many of its major consulting practices.
The company, however, stated that it continues to see strong business conditions in the Middle East and foresees improved backlog due to a number of new project awards in recent weeks in chemicals and oil and gas sectors in North America.
CRAI is currently trading at $28.96, up $1.19 or 4.29% on the Nasdaq.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.