patent
6,941,313, which relates to unique context management technology
with advanced
audit capabilities developed by Sentillion. The result
is the application access
paths of individual users can be monitored.
About Sentillion
Sentillion is the leading
provider of identity and access management
solutions to the always-on healthcare industry.
Business
Editors/Technology Writers
MIAMI----Answerthink, Inc.02,
compared to diluted earnings of
$0.S. The number for the
conference call is (877) 546-1566, (Passcode: Fourth Quarter, Leader:
Ted
A.
ET on Tuesday, February 8, 2005 and will run through 5:00 P.11)
Income from
discontinued
operations $ - $ - $ 0.02) $ 0.
brainstorming smes
Sentillion Sues Carefx for Patent
Infringement
With customers across North America,
Sentillion was named the leading vendor for
healthcare single sign-on for
three consecutive years by IDC Research.
"We are pleased with the
progress we made during the year to
expand the value we deliver to clients through our unparalleled
best
practices insight," said Ted A.
Representative Client Engagements
Shared Services
Strategy Advisory for a Global Telecommunications
Technology Manufacturer - Leveraging a Hackett
benchmark, Answerthink
is assisting in the design and buildout of a shared services center
located
in Asia encompassing key finance operations. The shared
service center will consolidate certain financial
functions presently
provided independently in 15 countries. 2, Dec.02) $ 0.01 $ 0.franchising brainstorming
patents
with several more in the pipeline.
(Nasdaq:ANSR):
Revenue and Proforma EPS in Line with Guidance
Hackett and Business Transformation Year over Year Growth of
66% and 51%, Respectively
Answerthink, Inc. By leveraging the
comprehensive database of The Hackett Group, the world
's leading
repository of enterprise best practice metrics and business process
knowledge, Answerthink
's business and technology solutions help
clients significantly improve performance and maximize returns
on
technology investments. 2,
2004 2004 2004
2004
------------------------------------------
Revenues:
Revenues
before
reimbursements $ 30,446 $ 27,828 $129,339 $117,945
Reimbursements
3,232 3,359 14,208 14,442
-------- --
------ -------- --------
Total revenues 33,678 31,187 143,547 132,387
Costs and expenses:
Project personnel and
expenses:
Project personnel and
expenses before
reimbursable expenses 18,398 16,001 75,774 73,061
Reimbursable expenses 3,232 3,359 14,208 14,442
-------- -------- -------- --------
Total project
personnel and
expenses
21,630 19,360 89,982 87,503
Selling, general and
administrative
expenses 12,369 10,181 48,491 43,951
Restructuring costs -
- 3,749 4,875
Stock compensation expense 430 671 2,321 1,236
-------- -------- -------- --------
Total costs and
operating expenses 34,429 30,212 144,543 137,565
-------- -------- -------- --------
Income (loss) from
operations
(751) 975 (996) (5,178)
Other income (expense):
Interest income
296 189 866 706
Interest expense (24) - (64
) -
-------- -------- -------- --------
Income (loss
) before income
taxes and income from
discontinued operations (479) 1,164
(194) (4,472)
Income taxes 251 125 324 350
-------- -------- -------- --------
Income (loss) from
continuing operations
(730) 1,039 (518) (4,822)
Income from discontinued
operations
- - 370 -
-------- ------
-- -------- --------
Net income (loss) $ (730) $ 1,039 $ (148) $ (4,822)
-------- -------- -------- --------
Basic net income (loss
) per
common share:
Income (loss) from
continuing operations $ (0.02 $ (0
.
Further, these non- GAAP results are one of the primary
indicators management uses for
planning and forecasting in future
periods.29 $3.bfs adl
S. (Nasdaq:ANSR), a strategic business advisory
and
technology consulting firm, today announced its financial results for
the fourth quarter ended
December 31, 2004.com service.02) $ 0.03
Weighted average
common and common
equivalent shares
outstanding 47,353 48,793 48,457 47,236
(1) Potentially dilutive shares were excluded from the diluted
loss per share calculation
for the quarter ended December 31, 2004
and the years ended December 31, 2004 and January 2,
2004 as their
effects would have been anti-dilutive to the loss incurred by the
Company
.barnett incorporations
S. "Violation of this process not only negatively impacts the
rightful patent holder, but also undermines
the foundation of the system that
has made America's free enterprise system thrive.sentillion. Goals
of the effort
include helping the company find transformative ways to provide and
improve service
in a cost effective, scalable fashion. For International callers, please dial (210)
234-0000.com
, an Answerthink
company, is a business advisory firm providing empirically based
advice and best
-practices research to executives seeking to drive
world-class performance in areas such as finance
, IT, human resources,
and procurement. 2,
2004
2004
------------------------------------------------------- ------------
ASSETS (unaudited)
Current assets:
Cash and cash equivalents
$ 39,895 $ 54,441
Accounts receivable and unbilled
revenue, net
27,878 24,877
Prepaid expenses and other current assets 3
,459 4,260
--------- ----------
Total
current assets 71,232 83,578
Marketable investments
9,902 10,000
Restricted cash 3,000
3,000
Property and equipment, net 7,568 8,714
Other assets
3,245 3,211
Goodwill, net
33,786 26,720
--------- ----------
Total assets $ 128,733 $ 135,223
--------- ----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 3,462 $ 3,793
Accrued expenses and other
liabilities 25,417 26,195
---------
----------
Total current liabilities 28,879 29,988
Shareholders
' equity 99,854 105,235
--------- ----------
Total liabilities and shareholders'
equity
$ 128,733 $ 135,223
-------
-- ----------
Answerthink, Inc.karpay smes
Sentillion's patent protects innovations that enable healthcare
organizations
to protect confidential patient information from inappropriate access. The project
is a
follow-on to Hackett finance benchmark and strategic advisory efforts
designed to help the
company develop a shared services strategy for
finance.02 $ (0.10 $ 0.realizing intermediary
10, up from $0. In a
separate initiative, the company has asked
Answerthink to support its Sarbanes-Oxley compliance efforts
by
guiding the configuration of a new compliance application.M.answerthink., http://www. This unparalleled
information repository allows Hackett
business advisors to provide data, advice, and strategic insight
with
a level of integrity and authority available nowhere else.00) $ (0.incorporations yuppy
com
Pro forma
information is provided to
enhance the understanding of the Company's financial performance and
is
reconciled to the Company's GAAP information in the accompanying
tables.11 per diluted
share,
respectively, related to an increase in previously established
restructuring reserves for the consolidation
of facilities.03 in fiscal year
2003.01) to $0.
In addition, Answerthink will also be webcasting
this conference
call live through the StreetEvents.02) $ 0.acquires lifstyle
ANDOVER, Mass. Further, our attempts
to
establish constructive dialogue with Carefx to resolve this matter were not
productive.0
million
to $38. To participate, simply
visit http://www.com approximately 10 minutes prior to the
start
of the call and click on the conference call link provided. 31, Jan.venturing karpay
"
The increased adoption
of Computerized Physician Order Entry (CPOE) and
other electronic medical record applications increases
the need for elegant
and centralized solutions that can protect data and ensure patient privacy by
tracking who has viewed which patient records in many disparate applications.
CONSOLIDATED STATEMENTS
OF OPERATIONS
(in thousands, except per share data)
(unaudited) Quarter Ended
Year Ended
--------------------- --------------------
Dec.02 $ (0.03 $ 0.diem lifstyle
Privacy Auditor tracks application context events
for
all Vergence-aware applications across the enterprise, including all instances
when the user
logs on, selects a patient of interest and logs off. For more information, visit
Sentillion at http:
//www.3 million to
repurchase 568,000 shares of the Company's common stock. Hackett's functional and
process-specific benchmarks
and its confidential, on-demand, membership-based advisory services
are
backed by an ongoing database of best practices in processes,
technology, and organization in use
at more than 2,400 clients around
the globe.
This press release contains "forward-looking
statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
and involve
known and unknown risks, uncertainties and other factors
that may cause the Company's actual results
, performance or
achievements to be materially different from the results, performance
or achievements
expressed or implied by the forward looking
statements. The presentation of this additional
information should not be considered in isolation or as a
substitute for results prepared in
accordance with accounting
principles generally accepted in the United States of America.paperless equa
The
Vergence solution is a modularized product suite that includes user
provisioning, strong authentication
, single sign-on, clinical context
management and privacy management.
Global SAP Implementation
for a Global Financial Services Company
- Answerthink and its strategic alliance partner, Accenture
, are
supporting an implementation of SAP to replace legacy systems.
Regulatory Business Intelligence
System for a National
Telecommunications Company - As a continuation of a long-term project,
Answerthink
is assisting this company with the design, development,
and implementation of a nationwide roll out
of a custom business
intelligence system that streamlines the process of rate-related
regulatory
filings.
A rebroadcast of the call will be available beginning at 8:00 P. An
online replay of
the call will be available after 8:00 P.M.streetevents.03 $ 0. These
non-GAAP results are
provided to enhance the users's overall
understanding of the Company's current financial performance
and
its prospects for the future.brainstorming expenses
, the leading
provider of identity and access management
solutions for the always-on
healthcare industry, today announced that it has filed a patent infringement
lawsuit against Carefx Corporation in the United States District Court of
Delaware.haas@sentillion
.01 to $0.
EzPharma Launch - Answerthink announced EzPharma, a custom
mySAP(TM) All-in-One solution
designed to offer pharmaceutical
companies and others in the life sciences industries a powerful
and
efficient solution that can help improve time to market, enhance
quality control, and streamline
compliance efforts. ET on
Tuesday, February 8, 2005 and will run through 5:00 P. 31, Jan.00)
$ (0.11)
Income from
discontinued
operations $ - $
- $ 0.brainstorming broeckx
7 million, up 8% from $31.4 million in fiscal year 2003. As of the end
of the fourth quarter
of 2004, $6.com
About Answerthink
Answerthink, Inc. As of this
writing, Hackett clients
comprise 93 percent of the Dow Jones
Industrials, 80 percent of the Fortune 100 and 90 percent of
the Dow
Jones Global Titans Index. The Company believes the non-GAAP
results provide useful
information to both management and
investors by excluding certain expenses that it believes are
not
indicative of its core operating results.
Answerthink, Inc.incorporations adl
However, the ability
to prudently make
these investments and to innovate in the United States is predicated on the
protections
offered by the patent process," said Robert Seliger, CEO,
Sentillion. It is against this backdrop
that we have decided to pursue this
serious but thoughtfully considered action.
Sentillion's Vergence
(R) Privacy Auditor(TM) product is based upon the
patented technology.com. 262)
jennifer.
For
fiscal year 2004, revenues were $143. Diluted loss per share was $0.00,
compared to an $0.
Answerthink
will utilize its Best Practices Implementation tools and
methodology to integrate Hackett best practices
throughout the
implementation. ET on
Tuesday, February 22, 2005.01 $ -
Net income
(loss) per
common share $ (0.01 $ -
Net income (loss) per
common share $ (0.01 $ 0.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands
)
Dec.
Supplemental Financial Data
(unaudited
)
2004 2003
------------------ --------
Q4
Q3 Q4
--------- -------- --------
Revenue
Breakdown by Group:
(in thousands)
Business Applications $12,327 $15
,362 $13,589
Business Intelligence $7,259 $7,634 $8,612
Business Transformation
$8,240 $8,361 $5,470
The Hackett Group $5,852
$5,774 $3,516
--------- -------- --------
Total
revenues $33,678 $37,131 $31,187
========= ======== ========
Revenue Concentration:
(% of total revenues)
Top
customer 5% 6% 7%
Top 5 customers
23% 18% 25%
Top 10 customers 36% 29
% 37%
Key Metrics and Other Financial Data:
Consultant utilization rate
61% 67% 69%
Gross billing rate per hour $181 $174
$175
Net billing rate per hour $163 $156 $156
Consultant headcount
550 600 483
Total headcount 717
768 618
Days sales outstanding (DSO) 76 79 73
Cash
provided by (used in) operating
activities (in thousands) $4,283 $(1,225) $2
,712
Depreciation and amortization (in
thousands) $1,467 $1,324
$1,295
Share Repurchase Program:
Shares purchased since inception (in
thousands
) 5,527 4,959 3,550
Cost of shares repurchased since
inception
(in thousands) $18,178 $15,857 $7,686
Average per share cost of shares
purchased
since inception $3.expenses brainstorming
, Sentillion, Inc.Answerthink Announces Fourth Quarter Results
03 for
the fourth quarter of 2003.08 and $0.
The Company's cash balances, including restricted
cash and
marketable investments, were $52.
We believe that this focus will continue to improve
our ability to
compete and to grow in 2005.11 $ 0. In addition, since the Company has historically
reported
non-GAAP results to the investment community, it believes the
inclusion of non
-GAAP numbers provides consistency in its
financial reporting.venturing acquires
02 for the fourth quarter of 2003
.8 million at the end of the fourth
quarter of 2004. The
effort was launched with a Hackett finance
benchmark in 2004.S. To access the rebroadcast, please dial
(866) 356-4341.M.
About The Hackett
Group
The Hackett Group, http://www.A category for sites from consultants specialized in business
opportunities.
valrico barnett
01, compared to $0. Pro forma
diluted earnings per share were $0.thehackettgroup. According
to Hackett, typical companies report nearly
nine times the number of measures when compared to the
most effective
balanced scorecards. Fernandez). Answerthink's capabilities include
benchmarking
, business transformation, business applications, business
intelligence, and offshore application
development and support.
(2) The Company provides pro forma earnings results (which exclude
amortization of intangible assets, non-cash compensation, income
from discontinued operations
and restructuring charges, and
include a normalized tax rate) as a complement to results provided
in accordance with Generally Accepted Accounting Principles. 31, Jan.valrico broeckx
The 2004 and 2003
results included restructuring costs of $0.8 million remained available under
the Company's share
repurchase program authorization. The Company also estimates diluted earnings
(loss) per share to
be in the range of ($0.03. The design of future state
finance processes leverages Hackett Best Practices
in creating a
single global chart of accounts utilizing PeopleSoft and standardizing
processes
thereby helping to improve productivity throughout the
enterprise.02 $ (0.diem smes
Sentillion's
intellectual property portfolio today includes three U.
Fourth quarter revenue was $33. Diluted loss
per share was $0."
Based on the current economic outlook, the Company estimates total
revenues
for the first quarter of 2005 to be in the range of $36. For International callers, please dial (203
) 369-0101. ET on
Tuesday, February 22, 2005.01) $ (0.equa paperless
Sentillion's Vergence(R)
product suite
enables healthcare organizations to know who their users are,
help them be productive, guard their
systems and protect their patients. Sentillion is a privately held
company headquartered in Andover
, Mass.5 million, up 8% from
$132. In addition, these findings show that companies
do not place
enough emphasis on forward-looking measures such as
external financial and operating performance
.
Global Oracle Implementation + Finance Transformation for a Global
Travel and Hospitality Company
- Answerthink and its strategic
alliance partner, Accenture, are providing support for this client
's
comprehensive Oracle reimplementation effort. Activities
include a phased conversion to SAP
, reorganization of the center's
management team and implementation of Hackett-certified practices
as
the company expands the center from a U.
Answerthink will host a conference call today at 5
pm to discuss
fourth quarter earnings results and outlook.
Founded in 1997, Answerthink has offices
throughout the United States
and in Europe and India.01) $ (0.incorporations acquires
Contact:
Jennifer
Haas
Sentillion
(978) 689-9095 (ext. Fernandez, Chairman and CEO of
Answerthink.
"This was especially evident in the strong growth we
achieved in our Hackett Group and Business Transformation
service
lines as well as our growing number of joint pursuits with Accenture.
Balanced Scorecard
Research - Hackett published research findings
showing that less than 20 percent of all typical companies
have mature
balanced scorecard implementations in place that are generating
business value. The
company's overall goal is to create a single
system for use by all of its global business units,
and generate cost
savings by centralizing purchasing and other related activities.answerthink.
Answerthink, Inc.03
Weighted average common
shares outstanding 43,471
44,480 44,188 45,140
Pro forma diluted net
income per common
share
$ 0.20 $2.karpay brainstorming
Sentillion asserts that Carefx has infringed upon U.
There is
a need to know who, when, where, and how often there has been access.2 million
in the fourth quarter
of 2003.
Pro forma diluted earnings per share were $0.11)
Weighted average common
shares outstanding 43,471 44,480 44,188 45,140
Diluted net income (loss)
per common share (1):
Income (loss) from
continuing operations $ (0.11)
Weighted average common
and common equivalent
shares outstanding 43,471
48,793 44,188 45,140
Pro forma data: (2)
Income (loss) before
income
taxes and
income from
discontinued
operations $ (479) $ 1
,164 $ (194) $ (4,472)
Restructuring costs - - 3,749 4,875
Stock compensation
expense 430 671 2,321 1,236
Amortization of
intangible assets 604 408 1,975 893
-------- -------- -------- --------
Pro forma income before
income taxes 555 2,243 7,851 2,532
Pro forma income taxes
223 897 3,141 1,013
-------- -------- --
------ --------
Pro forma net income $ 332 $ 1,346 $ 4,710 $ 1,519
-------- -------- -------- --------
Pro forma basic net
income per common
share $ 0.intermediary lifstyle
"At Sentillion, we pride ourselves
on our relentless focus on
technological innovation and have made and continue to make significant
investments in R+D in pursuit of ever better ways to deliver value to our
customers and the caregiver
community.
Other Highlights
New Hackett Web Portal - Hackett launched a new Web portal
http://www.com, which speeds up the benchmarking
process and provides Hackett clients with improved
access to best
practice research and offers enhanced benchmark project management and
online inquiry
capabilities.
Shared Services Strategy for a Global Online Service Provider
- Answerthink is supporting
efforts to optimize and expand a
newly-created dual shore finance shared services center. pilot to
a global operation
incorporating facilities in the U. To access the call, visit
http://www. Factors
that impact such forward looking statements
include, among others, our ability to effectively integrate
acquisitions into our operations, our ability to attract additional
business, the timing of projects
and the potential for contract
cancellations by our customers, changes in expectations regarding
the
information technology industry, our ability to attract and retain
skilled employees, possible
changes in collections of accounts
receivable, risks of competition, price and margin trends, changes
in
general economic conditions and interest rates as well as other risks
detailed in the Company
's Annual Report for the fiscal year ended
January 2, 2004. The non-GAAP measures
are included
to provide investors and management with an
alternative method for assessing operating results
in a manner
that is focused on the performance of ongoing operations and to
provide a
more consistent basis for comparison between quarters.16
Remaining authorization (in thousands)
$6,822 $4,143 $2,314
diem paperless
11 loss for fiscal year 2003. During the quarter, the Company spent
$2.0 million.02 and pro forma
diluted earnings per share to be in the range of $0. and India.M.com
, is a strategic
business and technology consulting firm that enables companies to
achieve world
-class business performance.thehackettgroup. We undertake no obligation to update or revise
publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise
.karpay barnett
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