AUSTIN, Texas – July 10, 2007 - Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout North America, announced today that it is raising its revenue guidance for the second quarter of 2007.
The Company expects its second quarter services and software revenue, including reimbursed expenses, to be in the range of $51.8 million to $53.0 million, comprised of $48.2 million to $49.2 million of revenue from services including reimbursed expenses and $3.6 million to $3.8 million of revenue from sales of software. The Company’s revised guidance range includes approximately $200 thousand of services revenue from Tier1 Innovation, LLC, an $11 million firm which Perficient acquired on June 26, 2007.
The revised guidance range of services revenue including reimbursed expenses would represent services revenue growth of 38% to 41% over the second quarter of 2006.
This revised revenue guidance compares to the previous guidance range of $48.5 million to $51.2 million (which included $1.6 million to $1.9 million of revenue from sales of software) provided in the first quarter 2007 earnings release and conference call on May 10, 2007.
"The second quarter was another record for Perficient," said Jack McDonald, Perficient's chairman and chief executive. "We are beginning to see the benefits of operating leverage and scale on our bottom line, which should positively impact profitability in the quarter. Moreover, near the end of the quarter, we expanded our Oracle capabilities with the acquisition of Tier1 Innovation, LLC. ”
Perficient is a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout North America. 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 1,200 professionals, please visit www.perficient.com.
Safe Harbor Statement
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 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, 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.