AUSTIN, Texas, January 3, 2005—Perficient, Inc. (NASDAQ: PRFT), a leading business consulting and technology services firm in the central United States, today announced it is raising its revenue guidance for the fourth quarter of 2004.
The company expects its Q4 services and software revenue, net of reimbursed expenses, to be in the range of $20.3 million to $20.9 million, comprised of $13.0 to $13.4 million of services revenue and $7.3 million to $7.5 million of software revenue. This compares to the previous guidance range of $13.0 million to $13.6 million (which included $1.0 million of software revenue) provided in the third quarter 2004 news release and conference call on November 3, 2004. It is the company's practice to include in its revenue guidance only those software sales actually booked as of the guidance date.
The revised guidance range, which includes only $400 thousand in revenue from ZettaWorks LLC, acquired by Perficient on December 20, 2004, represents annual growth of 172% to 180% over Q4 2003 results.
“Q4 was another record-setting quarter for Perficient,” said Jack McDonald, Perficient’s chairman and chief executive officer. “Our performance continues to be strong, and we are entering the New Year well positioned to reach our goal of achieving $100 million in revenue by the end of 2005.”
Perficient is a leading business consulting and technology services firm in the central United States. Perficient delivers business-driven technology solutions that enable our clients to reach new markets and increase revenues, strengthen customer relationships, reduce operating costs, increase productivity and empower their employees. Perficient is an award-winning "Premier Level" IBM business partner and a recognized expert in IBM's WebSphere® software. Perficient's partners include leading eBusiness technology and services providers including IBM, Tibco, Microsoft, Wily Technology, Adobe, ATG, Grumium and others. For more information about Perficient, which has more than 425 professionals in the Central US and Canada, please visit www.perficient.com. Recently. Perficient was named to the 2004 VARBusiness 500 and the 2004 Deloitte@Touche Fast 500 and Texas Fast 50 lists. 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, including our estimates of fourth quarter revenue, 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 are 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-QSB. The foregoing information concerning Perficient’s business outlook represents our outlook as of the date of this news release, and Perficient undertakes no obligation to update or revise any forward-looking statements whether as a result of new developments or otherwise.