AUSTIN, Texas, April 10, 2006—Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm serving Global 2000 and midsize clients throughout the United States, today announced it is raising its revenue guidance for the first quarter of 2006.
The company expects its Q1 services and software revenue, including reimbursed expenses, to be in the range of $28.8 million to $29.7 million, comprised of $26.4 million to $27.0 million of revenue from services including reimbursed expenses and $2.4 million to $2.7 million of revenue from sales of software. The revised guidance range of services revenue including reimbursed expenses would represent services revenue growth of 44% to 47% over the first quarter of 2005. This revised revenue guidance compares to the previous guidance range of $26.5 million to $27.9 million including reimbursed expenses (which included $1.0 million to $1.1 million of revenue from sales of software) provided in the fourth quarter and full year 2005 earnings release and conference call on February 28, 2006.
“Q1 was a great start to a promising year, as we continued to see accelerating demand for our solutions,” said Jack McDonald, Perficient’s chairman and chief executive officer. “We are winning impressive new blue chip clients, broadening our solutions and services portfolio and leveraging our increased scale to drive market and operating efficiencies. We remain excited about the prospects for continued high growth in 2006.”
The revised guidance range contains no revenue from Bay Street Solutions, Perficient’s recently-announced acquisition.
About Perficient
Perficient is a leading information technology consulting firm serving Global 2000 and midsize companies 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. 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, a Microsoft Gold Certified Partner, a Documentum Select Services Team Partner and a Siebel partner. For more information about Perficient, which employs more than 625 professionals in the central United States and Canada, please visit www.perficient.com.
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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-K and Form 10-Q.