HCKT - Earnings call transcript Q4 2019

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Operator

Welcome to The Hackett Group Fourth Quarter Earnings Conference Call.

Your lines have been placed on a listen-only mode until the question-and-answer session. Please be advised the conference is being recorded.

Hosting tonight’s call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Officer. Financial Chief Ramirez, Rob

Mr. Ramirez, may begin. you

Robert Ramirez

you, joining us Good results. everyone, Group's afternoon, for you thank and to quarter Thank Fourth operator. discuss Hackett The

on Hackett Group; answer myself, Rob here Fernandez, Speaking Financial and and today Officer. Chief are Chairman The questions Ted to of CEO Ramirez, call the your and

released wires announcement at A Eastern p.m. was press X.XX over the Time.

please at www.thehackettgroup.com. For site a Web copy visit of our the release,

the is release statistical We the will data or not also contained call this financial page in place Relations discussed that on site. Investor of any on Web additional our

I future of a vary. and that information, considered which assumptions to making results, conjunction detailed are particularly difficult begin, the Federal statements guarantee not our These uncertainties the projections accurate. statements with comments contained our we question-and-answer SEC factors only risks, the results would the in in are purposes future expected which may Before be Securities expectations, like and of should filings. Laws. that be to you and estimates They the be to be that forward-looking and about relate in forward-looking remind session, not statements statements Actual and performance. current will predict we the in following involve risk may These may for

I to this Ted. turn like would At point, it over to

Ted Fernandez

quarter call. our earnings Thank Rob, fourth everyone, welcome, you, to and

overview me up turn comments, overview flow to some as ask we’ll I'll open do, Q&A. will it to it and over will detailed comments call highlights. I some open cash Rob and then normally well on then our quarterly, we quarterly turn the comments as and our As provide provide to it up then market, strategic for back to him guidance. Rob over with

this respectively. midpoint per the reported forma our So guidance which afternoon let revenues of million XX.X pro share of first at high by net and earnings and of we $X.XX, saying start me were

unfavorably by was impacted performance week results. Solid US international

to on our international we overall impact going limited results to immediate size an took guidance, with steps right our our Consistent attempt operations in forward.

we the our program. of As on focusing sure and review, provide to efforts us and resources make strongest that We a our markets we opportunity that decided Institute's result offerings Hackett are to wanted Analytics the also to grow. exit

QX were diminishing of X% decline. Oracle from revenue revenues Total US up in the spite on-premise impact the

it headwinds from be that the on-premise importantly, More strategy XXXX. by material of pursue to as business to digital continue activities of now the be transformation initiatives. will companies decline midyear Oracle continues enterprise transformation appears in The solid

EEA and group, Cloud growth In as quarter. EPM ERP, which Analytics continued which our or and we broader, are deals, Oracle multi-tier throughout SAP strong larger SX/HANA activity, as strong in to build well saw the ERP the

group. promising from We OneStream emerging our also an contribution saw

Rob As will in first groups mentioned groups these two grow two quarter. are mention, Rob or expected to to XX% the as these XX%

On the international continues challenging. be Europe front to

said mentioned more to demand revenue and affected appropriate current As mentioned With I Accordingly cost in last level market and as dispute to allow to the making. Brexit recent demand the adjust we XXXX. normalized took and to overall as quarter, protect needed business return should into line results year clarity with results be our client the uncertainty that provide actions we decision to the our progresses. election our

rate will XXXX. our of second total challenging growth the have comps we through However, European quarter we know impacting

our DTP, continue our Transformation the development of Platform investments the of of offerings our growth. drivers believe On next strategic digitize to and investment made and platform Hackett the we have important Quantum our fully Leap differentiate highly proprietary benchmarking generation of Digital IP, to or our the side, all be introduction we

software relationships to providers were to our investments automation be our key strategy and and a with strategic transformation RPA also digital smart growing. momentum. continue EPM along Additionally, rapidly of Procurement,

future are these but Some our starting revenue drivers our are relationships impact growth, to just of growth of strategy. important

strong the from strong On allows generated to profitability, on operation. very strong market but while balance fund I'll continue to our acquisitions our to very continue invest This buy strategy comment flow continuing cash stock sheet side we generate we us dividends, – to business. was increase and and further in conditions. back also

to me and results, Rob flow on cash Rob? comment outlook. first details also let on ask operating our But provide

Robert Ramirez

you, Ted. Thank

statistics, portion financial our quarter operating the of the a discussion our outlook overview cover key of activities our first I'll then this I'll call. overview on quarter for related As and an fourth with following topics I flow XXXX the quarter of of typically cash overview an cover of do, conclude the XXXX. an along I'll during results, during with

our For company. T, call, and or I separately Our this purpose the Strategy Transformation will or S&B and results comment International of the and EPM group group and our financial regarding total Business and Analytic group of EEA solutions ERP,

results include our the America includes our IP-as-a-service, group transformation our S&BT executive services, which practices. of benchmarking and programs advisory Our business North and

of Oracle group Our and the solutions practices. American includes results our EEA North SAP solutions

our groups that Our based international and in group our includes are primarily EEA the S&BT results Europe. of

within year Europe. Please note believe in we've enhances a providing separately our reporting results all S&BT current we given when our volatility that commented grouped this international the differs in how international group. from past, practices We

in addition, discussion excluding to gross In revenues reimbursable expenses. revenues, represent any net my all to expenses, that revenues revenues note references including and please references represent reimbursable

our European at we exited continues as financial practice working XXXX, of our REL As which to previously discussed, statements. operations for capital end be accounted the based discontinued in

of long-term other compensation rate and and of results detailed forma assumes expense tables normalized pro release. expense, cash press as intangible to XX% the our on references accompanying a adjustments tax non-recurring asset amortization non-cash exclude Additionally,

and to consideration for Acquisition related reflected our expense non-cash compensation acquisitions, portion as under compensation expense cash the adjustments, of purchase which the related are items GAAP.

guidance revenue revenues our to of net reimbursable of our X% expense our end The compared year. XX.X for XXXX X.X% was prior for quarter on QX prior X.X% continuing quarter, by to fourth to ratio from fourth high when on million range. the the of was compared increased to fourth XXXX as the the revenues the Moving at quarter year and net operations

Reimbursable travel company passed impact revenues expenses of quarter have primarily project profitability. expenses, XX.X expenses or clients our Including and related reimbursable the a associated continuing operations to no fourth through from are gross in to margin million were XXXX.

and results million on XX.X a driven practices. SAP, for revenues were was our EEA ERP XX.X XX% in solutions of the on S&BT year-over-year Net group by Oracle Net most basis. practices. by group quarter, a This growth a the revenues increase across our X% from for OneStream quarter, of were an basis, an fourth in fourth increase million solid strong year-over-year driven the

of excess implementation important on Specific resulting a to unfavorable improved reducing our now practice approximately our US on-premise growth. basis, mix revenue which stabilize clouds on-premise of year-over-year Oracle remaining to in XX%. EEA, growth was our the cloud is revenues implementation the Equally with XX% in on revenue, continue impact

quarter group compared for company in Net revenues revenues a year-over-year million XXXX. XXXX, international on were quarter the total International as of to decrease quarter. a the and revenues XX.X% fourth accounted in quarter net for fourth company XX% of net as previous of Total of the in discussed expected the X.X XX% fourth in we

pre-tax which in of XX% revenues, our of fourth best profitability company and revenues, AMS total executive XXXX. XX% quarter our recurring approximately include approximately and and company total our practice groups of practice for net advisory the Our accounted

or or pro of to XXXX, of period company prior net compared of Total excluding revenues million as reimbursable the cost year. XX.X% totaled expenses, forma the million XX net sales, in XX.X for of XX.X% same revenues the fourth quarter in

XX.X% head was XXXX. of XXXX. and Total quarter end XX.X% consultant was as the compared net margin company XXX the the in compared fourth in to company of of at the end in the previous pro quarter forma of XXXX quarter, revenues fourth quarter of fourth quarter, count the as at Total fourth the gross XXX to

increased costs. margins higher on was related gross compared net The increase by offset was headcount the quarter, prior as XX.X% quarter S&BT by to year. the quarter driven margin in primarily partially the in the fourth during of revenues fourth XX.X% revenues

on margin software in were driven by EEA and higher sales, which from by utilization offset headcount was quarter, that gross to quarter, net the compared decreased of a as well fourth SAP was quarter fourth XX.X% the gross the higher decrease XX.X% in subcontractors of revenue increases increased the primarily The carry year. revenues revenues margins in as prior as margin.

prior gross discussed. to quarter in group as International XX.X% the driven in the of on primarily net by fourth year, was fourth margins revenue XXXX, revenues we the XX%, as of the quarter in compared decreases

XXXX of and same previous EBITDA to XX% XX.X years. net XX% the the in XX.X was SG&A XX.X compared in period revenues and million forma XX.X of net Pro year in both million year fourth the respectively. to forma quarter, as million, Pro represented the and fourth prior million represented of the XX% quarter of revenues as in compared in was

Total company year. quarter the the X.X $X.XX quarter's the diluted previous fourth income per totaled This income XXXX to diluted million X.X pro million pro $X.XX or of forma was net of in or fourth our forma the share net quarter guidance. of at midpoint share fourth which for per compares of

quarter Our pro for forma was on of equity XXXX. the fourth return XX%

the include for of a in recorded no for GAAP recorded Enterprise GAAP $X.XX Australia fourth GAAP Institute's as earnings the discontinued relating reduction in expense HPE year. the Europe Hackett the no to quarter that write severance investment and include in expense, staff to the quarter the $X.XX, the earnings of quarter the and primarily of There of and in result down fourth to X.X was losses X.X operations million quarter million compared year. write XXXX a of Analytic or diluted assets of related GAAP assets restructuring our related to earnings as program. fourth we from related or per last of costs fourth results down XXXX to of XXXX, were share the in $X.XX previous

XX.X balances cash from The were earn-out attributable the fourth compared quarter XX and the cash repayments, primarily of the quarter expenditures. by to The at quarter. of stock at as capital XXXX, the previous offset the million which debt flow end fourth settlements was in was operations, strong to repurchases, company's million of partially increase end

in income by was was non-cash receivable. XXXX items and generated million, fourth primarily the activities decreases quarter in of operating cash accounts net for XX.X Net driven by adjusted which

Our was of at DSO end end outstanding sales XXXX the the XX to at XX of fourth quarter previous compared the days, quarter. or as days the days of

outstanding During quarter, the repaid of company the its X.X the million on fully balance facility. credit

the of company of share. X.X at shares company the million cost the $XX.XX XXX,XXX of an average or of a stock per quarter cost repurchased approximately During total

meeting, end the recent to a share Board its of increase Subsequent program. million most the Directors to quarter, the at authorized of repurchase the fourth $X

of Board share year Directors an company's Additionally, increase to the cents the most $X.XXX approved at semi-annual. its from dividend annual paid be per of $X.XX recent meeting, company's per to

I now the turn of to will quarter for our first guides XXXX.

seasonality first that, our to sequential previous in of to we consistent from I and quarter increase everyone years I move the of remind would a US do Before of our of related taxes quarter provided payroll cost QX like cost. business buildup as XXXX our to specifically reflect vacation QX, the sequentially guidance relative with guidance in first sequential

sales. estimates total XX as quarter benefits and basis, XX% million X% company in software America to year-over-year of North be net to from SAP a to the The the million. S&BT XX% be up XX.X it for we of XXXX expect revenues EEA first On range to

XX% international XXXX Brexit due to until expect we from second quarter comps. be unfavorable the expect XX% to to We continue approximately the down to as impact

reimbursable The guidance million. revenue gross an million in expenses. XX be estimated includes gross the to XX.X of to company revenue for The estimates X.X% range

diluted represent increase per year-over-year of of our per forma $X.XX. this expect share forma in the would $X.XX range range quarter be to the earnings At this the earnings high approximately pro We XXXX of share or pro first in to in XX%. end a

the of margins gross We of somewhat revenues America. on for quarter the to revenue headcount first Gross expect are pro first utilization the due subcontractors forma quarter in North XX% associated up to to increases with net XX%. margin for ramp tempered approximately and be

interest SG&A the to forma for and XX approximately expense quarter pro be million. expect We first

of first approximately pro range expect XX%. the EBITDA to on We forma net to quarter revenues XX% be in

to in a We balances, bonuses, fourth to the quarter and quarter income the vesting was payment the declaration the payment impact on first share activity of related net the basis shares. of of of of tax down excluding XXXX expect payment of employee withholding restricted due early buyback that paid dividend triggered performance be by sequential cash XXXX the

market it to and the like outlook review back At coming this point, our turn over to to would months. Ted strategic I priorities for

Ted Fernandez

Rob. Thank you,

Leap, service have As Quantum differentiate digital we has further look forward, as as enterprise Hackett us the investments global benchmark to benchmarking in the leader. allowed platform, a our we made

previously, mentioned with life to in We effort. of there significantly allows deliver our frame over the information comparable also new platform market. track that transformation I've to As more is clients allows IP no their client the believe us and this initiatives efforts. respective leverage to platform less It

Digital Platform released digital differentiate capabilities. allowed our cloud configuration us the ERP to as been Transformation transformational Oracle help business and proven era. our has recent our drive in instrumental unique to name IP and few ourselves along best practice change. also allowed to have many IP DTP position align with wins. well further digitize as transformation, We transformation for investments to DTP investments DTP of clients to RPA solutions our software us implementation or These fully our and and organization related a

with that for backdrop, excited said, a prospects we're With as our that about XXXX.

share Europe. both me We headwinds on-prem believe in end volatility have US addressed and should by continue S&BT to reasons And let of year. the the quarter. in the the grow now why. the be of So businesses substantially EEA we the second should throughout some The the gone

Additionally, as our rate. so company our revenues XX% X% total revenue at to fully subsides by the impact midyear growth grow Europe long-term should

XXXX, indicators strengthened Within our executive the the of both in excess revenue rest DTP advisory of well US bodes are of and of and businesses practices Value for the in for on strategy Quantum of Contract growth transformation, XX%, Annual benchmarking which offerings, business. the considered had In and ACV we Leap and they in business momentum practice good wedge are believe XXXX. or the these the by

group, larger been and ERP EEA fully of on and our and acquisition integrated broader Oracle led West momentum Oracle Coast strongly the in XXXX Within our the grew has deals.

our this East capabilities success, looking we're Given Oracle the aggressively ERP to for expand on ways Coast.

the Our strong the with a we've XX our market into also Also launched one EPM this already growing status achieved finished SAP last success. of Business platinum year. momentum we great first within and has and year stream year months QX consistent practice

back a long-term Phase year. as be that we begin business of the the election the trade me accretive in Relative with increased the to for believe heard the China deliver enhanced in deal development enterprise along automated in rapid emerging demand, mention, digital Europe, UK provide workflow to and and should stability you've mining X compete digital should the and events half repeatedly which influencing On fully Traditional linear workflows are with and sequential the dramatically applications, cloud the transformation and way intelligence. process to with services. based automation, and models changing artificial intelligence is their dynamic and businesses basis business

around our capabilities at organizations industry and unmatched and pace, forcing to competitive. benchmarking best entire remain redefining to fully is on offerings our clients new transformation us whenever to change capabilities digitized our an Digital digital build Strategically, should intellectual serve these capital. and to adopt This new accelerated fundamentally practices transformation our allow strategically focused with to brand focus order in continuously. continue and is and

of similar Given will improved existing our to We to strategic our Leap the partner and attract we and Digital to functionality, initiatives success continue programs. partners we Quantum Transformation add believe Platforms. other the

platforms demonstrate further and our our initiatives We to IP executive assessments. IP-as-a-service credibility We business XXXX with other to that our with advisory Transformation nearly unmatched our and brand that brings and access now unique continue partners pilot across will offerings. have clients to paid case new launch capabilities our Digital

acquisitions our accelerated base and offerings add leverage and believe grow continue to IP we we that look have our alliances and our the though with strategically to the scope, even business, capability client and we scale for Lastly, growth.

we've mentioned, ERP I and prime the which As been capability targets expanding other of are us. for aggressive our some Oracle technology with areas

impact results. to In weakness necessary quarterly continuing unfavorably steps summary, the though our results, address the Europe our even its took in we impacted on

progress our transformation of this provide offerings offering investments aggressively cloud been we've highly making around the allowed our which with and us demonstrates growth more QX. resume access automation digital continue not to the global leading US, has quarter, differentiated and in the We us our to in IP-as-a-service to most to build companies. but continue into smart This and strategic in only momentum expanded

opportunities let close always, to efforts by me available our them their highly urge and As our associates organization. tireless focused clients, thanking on people exciting our the for and always stay our to

me call. our let conclude over it the Q&A to us to of section my operator does on comments, Operator? This and turn the let move

Operator

[Operator the are questions. Instructions] you. open Yes, for Thank lines phone now

is queue the with in Andrew Blair. William question from first The Nicholas

Your open. line is now

Andrew Nicholas

And and you demand about a both very bit cost and rest cutting could initiatives what European good was a I about talk hoping XXXX? for strong sounds in backdrop how the mirror the the Hi, rearview businesses, with of in thinking growth, afternoon. first little the through the US like quarter you're headcount

Ted Fernandez

It's an question. excellent

at he as that you we when provided aggressively, of year some mentioned look headcount comments guidance, the pretty Rob ended. If grew the

see were not in of offset the by because into Europe. the may those increases US You decreases They that continue QX. in some

that the call through that significant balance the pay want So headcount a incurring continue we're we're costs if increased, year. QX placing of in to off bet the will to you it

doing. in both headcounts Europe, add groups. aggressive And a So those no, we've even across part what take very it's have the to equally important been to though in of we're we US reductions

Andrew Nicholas

post to first can speak European headwinds grow back over those demand year about client bit trends. so then of the expect the business I like and into can general of the you sounds client you're you half. half kind Brexit know some that of kind it dissipate conversations Great you a a to little the behavior, having, more the just of and with environment, respect market

just in I'm gives curious, acceleration what over time? you So that confidence

Ted Fernandez

historically, it And very some some most really pleased Well, quickly. organizing transformation believe plays entire clear there group say pleased, in it the an but we'll organizational of be outcome that across that as of the therefore On a, we start here to the we unilateral that clarity market. conversations specifically, fact want of that see consistent had part to some and want directivity is agreement, to was much hurt we planning. of versus that Brexit which confidence – see by we're believe having of appears are allows we felt improving, guess, I the is to companies you we of that it have how whether success these direction. what we've probably that do that much basis, What we're, to was so client companies I we believe relative on that mean so happy, work, indecisions area would to disruption if the a out the the to current direction in don't a improving and call with is market and the

mentioned, we, half first us would clearly which results we in expect in benefit the the second to hurting I of European So the us half, they're – as year.

Andrew Nicholas

Great, thank you.

Operator

[Operator with is The Instructions] queue Sutton George question Craig-Hallum. in the next from

is open. line now Your

George Sutton

you in abate should us that'd the headwind we on see that Ted, if could What with premise. are more a we just QX, where you. current us premise? the we there of cloud? You can are are of to What Thank helpful? seeing a growth of rates kind we that Oracle mentioned you by give be breakdown give if I wondered little declines cloud detail of kind seeing in versus the the respect end

Ted Fernandez

the in Cloud of to of And still QX the QX, a it's changes slightly nominal. the we're look be from in see. when transition QX, The very on-prem QX. only Oracle not very given quarter, continues quarter significant we're to question, year-over-year but fourth especially growth No, on-prem exactly we the the revenues happy XX% experiencing, in through But really the George, the in experiencing way excess in basis. all were which changes in the important were impact at pretty on decline the quarter, in was the a you

only means from QX, half believe move in was on-prem, that the is on stability longer So a of what X% results, not example, percent for critical in on-prem. last QX revenue benefiting, than happens where QX, the And the we in What will the QX, seen the and decline be range. we've juncture in it the cloud we that year of significantly about no the is that, on-prem a remains but before we're that to lower X%, still which X% growth headwind. to before at which year continue and total year be as to will but

we our the not on didn't. probably So headwind is QX guidance, worth mentioning so even

– runs We some actually because AMS we Oracle extend actually QX all on-prem we through June. into we that say out way have that activity, in the know just which

and So we QX negative we our amount beyond imagine, from know. impact are and the be beyond still QX are four we there relative to supported totally the will being made material. in then is it's to in believe the growth growth that midyear in comment QX boy being to that immaterial our great fully three also out Oracle know the to our on SAP because an further about but business. playing total It's out of important, them the QX, that being only play only virtually a business not percent QX, but or – is SX/HANA things it from as in none that you can half – little allows it's just And results, to gone consolidated totally going QX in OneStream emergent which some and by it's

referred it no for have I've while, obviously, see So virtually on-prem a really amble us to jokingly look, become way. a to good trend very for and that delighted as

George Sutton

Thank you.

And your I get your a more on clarity. out things in just press see called You if to wanted two little other we highlights release.

OneStream being of of a automation can offering just out technologies that the you I a mentioned your is significant how scale your deals? area, to you the also First, Can others. integrated us opportunity? in us including that sense wondered and then doing into a smart total give were or you that is you just called research sense lot RPA of And scope that and give if how you or of

Ted Fernandez

you to RPA the a on results. material basis, on consider total it integration as of in But and the standalone don't our business Well, that know, capability every our initiative the requirement. don't we we strategy first, is transformation – pure capability virtually a still

it's So revenue stick had reporting, tell that The story. is can to the success revenue have and growth it we've to the I than us a the I influence, must had, less rate. mean, ago OneStream separate a in total on the that. I business And strategically started meaningful and market I'll which as meaningful, a that critical is wise, is mentioned this I'll critical scale growth so growth a and my you different understanding transcript, that platinum revenue that material. group as growth OneStream QX know basis, that status. still to reach OneStream for we is – year we're we've that leave not you enough And – a at

George Sutton

Thanks, guys.

Operator

is Next Capital question Martin from in queue Jeff Partners. Roth the from

is line now open. Your

Jeff Martin

Thanks. Good afternoon guys.

Ted Fernandez

Jeff. Hi,

Jeff Martin

the is you an wondering uptick could was that elaborate you think value XX% what them? driving contract and seeing, you're do growth I if on is But acceleration

Ted Fernandez

the efficiently signaling quite IP of by for is is, and our able performance while to only it that more you I are becoming a with facilitating I've those group, driving Transformation what's more capture been Well, investments, means as team, as either more we but A, the fully really Leap, of improved way believe being really we the deliver our our Quantum in which data insights focus to and Platform. know, clients, through utilization Those deliver the digitizing and share we not to Digital offerings. go share. Also IP advisory advisory have market we and even research way through executive

impact if more to credit having platforms. simply that's didn't execution team's clients I strongly wrong. our that on our insights give performance, obviously, just So through and and Hackett's access an would going we're I being to that continue to a and focus able rely be to believe those

Jeff Martin

surrounding cloud, imply broader could cloud, Okay, and in there does in see is on it XXXX? acceleration larger mentioned the ERP, prepared we you then across that Is it's – remark and some the board? does that that And Oracle of if growth deal.

Ted Fernandez

it's But pipeline the – cloud. is of the clearly overwhelming majority

mean, substantially or all lead Oracle look, and relationship. and I made that allow the ERP to with to decision a an of will So it then be EPM capabilities I CX other yes, then with and the along ERP say cloud through offerings HCM and sold like

broadly and I that we've acquisition accelerate larger we could So the years importantly, And in that investment we to really then to as that East, our West And we'd think and our our can couple increasingly here And followed their how replicate bundle. couple wins, disproportionately strategy. a clearly would as the the seen become next Coast that ours in to ability revenues the important has West we the the made as do combination focus that if Coast and Coast. it that more is primary of we that's of of quarters successful EPM our strengthen boy, grow see ago the that wins. East a of because closely especially over clearly ERP and we to replicate in like attributed capability we're to in

Jeff Martin

on Coast, based? and capabilities and more my that greenfield a Now you final done or accelerate some leadership able to East it question, on start through leverage are is is expanding acquisition

Ted Fernandez

We're both it'll The pushing both. on be answer hard. probably is

Jeff Martin

Thank good. you very very much. Okay,

Operator

is from Research. Barrington Colicchio Next question Vincent with

Your is open. line not

Vincent Colicchio

grow in to in to. referring XX% sure your QX; Ted, prepared two Yeah, wasn't remarks XX% you these said EEA the that I what you're regarding should

Ted Fernandez

That correct. is

and as grow somewhere strategy our both in XX% XX% in includes range which QX. group, US our Our EEA will transformation well groups the to business as

Vincent Colicchio

you into see the meet characterize XXXX? Okay. business and IP did can we type could in And then of the the expectations growth QX

Ted Fernandez

be will comments dependent That shared the I on same on the call.

increased an across going industries have on We number of and paid pilots, multiple users. pilots

would you any into gone, in increase significantly long-term has pilots those to surprise driving that growth we're happen. terms of relationship of where this a hard sure working make would capability so so IP-as-a-service XXXX, in Some the broader

Vincent Colicchio

what just speak, quarter? the a so housekeeping And Rob, spending, capital in to was that

Robert Ramirez

XXX,XXX, Vince.

Vincent Colicchio

for you. it me. That's Thanks. Thank

Operator

like At further questions. no this I call time show the to now over turn to would I Mr. back Fernandez.

Ted Fernandez

updating first Well, forward report you, again quarter conclude we operator. comments and We our look Thank our when results. Thanks those again. everyone to questions.

The Hackett Group, Inc. (HCKT) 18 Feb 202019 Q4 Earnings call transcript