AUSTIN, Texas – July 11, 2006 - Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout the United States, announced today that it is raising its revenue guidance for the second quarter of 2006.
The Company expects its Q2 services and software revenue, including reimbursed expenses, to be in the range of $36.6 million to $37.7 million, comprised of $34.4 million to $35.1 million of revenue from services including reimbursed expenses and $2.2 million to $2.6 million of revenue from sales of software.
The revised guidance range of services revenue including reimbursed expenses would represent services revenue growth of 81% to 86% over the second quarter of 2005. This revised revenue guidance compares to the previous guidance range of $31.0 million to $32.8 million including reimbursed expenses (which included $600,000 to $800,000 of revenue from sales of software) provided in the first quarter 2006 earnings release and conference call on May 3, 2006.
“Organic growth continued to accelerate in Q2,” said Jack McDonald, Perficient’s chairman and chief executive officer. “Utilization rates are high and we’re adding billable resources to address our existing project backlog and pipeline. It’s worth noting that our Q2 revised guidance range includes only one month’s revenue -- approximately $1.4 million -- from Insolexen, the firm we acquired on May 31st.”
Perficient is a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout the 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. Perficient is a member of the Russell 2000® index and is traded on the Nasdaq Global Select MarketSM, a market for public companies that meet the highest listing standards in the world. Perficient is an award-winning "Premier Level" IBM business partner, a TeamTIBCO partner, a Microsoft Gold Certified Partner, a Documentum Select Services Team Partner and an Oracle-Siebel partner. For more information about Perficient, which employs more than 750 professionals, please visit www.perficient.com. IBM and WebSphere are trademarks of International Business Machines Corporation in the United States, other countries, or both.
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. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from management's current expectations and the forward-looking statements made in this press release. These risks and uncertainties include, 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, the company’s ability to identify, compete for and complete strategic acquisition and partnership opportunities, and other risks detailed from time to time in the company's filings with Securities and Exchange Commission, including the most recent Form 10-K and Form 10-Q.