AUSTIN, Texas – January 9, 2008 - 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 fourth quarter of 2007.
The Company expects its fourth quarter services and software revenue, including reimbursed expenses, to be in the range of $61.2 million to $62.7 million, comprised of $56.6 million to $57.8 million of revenue from services including reimbursed expenses and $4.6 million to $4.9 million of revenue from sales of software. The Company’s revised guidance range includes approximately $500 thousand of services revenue from ePairs, Inc., a $6 million firm which Perficient acquired in late November 2007.
The revised guidance range of services revenue including reimbursed expenses would represent services revenue growth of 35% to 38% over the fourth quarter of 2006. This revised revenue guidance compares to the previous guidance range of $56.3 million to $62.1 million (which included $2 million to $5 million of revenue from sales of software) provided in the third quarter 2007 earnings release and conference call on November 10, 2007.
"The fourth quarter was another record for Perficient," said Jack McDonald, Perficient's chairman and chief executive. “We posted strong revenues that were bolstered by a reacceleration of organic growth and continued to see positive operating leverage enhance profitability.”
Perficient is a leading information technology consulting firm serving Global 2000 and enterprise customers throughout North America. Perficient’s 1,500 professionals serve clients from a network of 18 offices in North America and three offshore locations, in Eastern Europe, India and China. Perficient helps clients use Internet-based technologies to improve productivity and competitiveness, strengthen relationships with customers, suppliers and partners and reduce information technology costs. Perficient, traded on the Nasdaq Global Select Market(SM), is a member of the Russell 2000® index and the S&P SmallCap 600 index. 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, 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.