AUSTIN, Texas, July 14, 2005—Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm in the central United States, today announced it is raising its revenue guidance for the second quarter of 2005.
The company expects its Q2 services and software revenue, net of reimbursed expenses, to be in the range of $20.1 million to $20.8 million, comprised of $18.8 million to $19.3 million of revenue from services and $1.3 million to $1.5 million of revenue from sales of third party software. The revised guidance range represents annual services revenue growth of 95% to 100% and compares to the previous guidance range of $18.7 million to $20.1 million (which included $900 thousand to $1.3 million of revenue from sales of third party software) provided in the first quarter 2005 news release and conference call on May 5, 2005. The revised guidance range includes approximately $470 thousand in revenue from iPath Solutions Ltd., which was acquired by Perficient on June 10, 2005.
“Q2 was another strong performance,” said Jack McDonald, Perficient’s chairman and chief executive officer. “Organic growth was robust as we continued to see strengthening demand for our e-business integration solutions.”
Perficient is a leading information technology consulting firm serving Global 2000 and midsize companies in the central United States. Perficient helps clients gain competitive advantage by using Internet-based technologies to make their businesses more responsive to market opportunities and threats, strengthen relationships with customers, suppliers and partners, improve productivity and reduce information technology costs. Our solutions enable our clients to operate a real-time enterprise that dynamically adapts business processes and the systems that support them to the changing demands of an increasingly global, Internet-driven and competitive marketplace. Perficient is an award-winning "Premier Level" IBM business partner, a TeamTIBCO partner and a Microsoft Gold Certified Partner. For more information about Perficient, which has more than 510 professionals in the central United States and Canada, please visit www.perficient.com. IBM is a trademark of International Business Machines Corporation in the United States, other countries, or both.
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Safe Harbor Statement "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive services, demand for services like those provided by the company and market acceptance risks, fluctuations in operating results, cyclical market pressures on the technology industry, the ability to manage strains associated with the company’s growth, credit risks associated with the company’s accounts receivable, the company’s ability to continue to attract and retain high quality employees, accurately set fees for and timely complete its current and future client projects, and other risks detailed from time to time in the company’s filings with Securities and Exchange Commission, including the most recent Form 10-KSB and Form 10-Q.