Perficient Reports Fourth Quarter and Year-End 2005 Results; Company Reports Record Quarterly and Annual Revenues and Achieves $0.09 Diluted Cash EPS for Q4 and $0.33 Diluted Cash EPS for 2005.

Publication: Business Wire

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COPYRIGHT 2006 Business Wire

AUSTIN, Texas -- (Realizes $0.08 and $0.28 Diluted GAAP EPS, respectively)

Perficient, Inc. (NASDAQ: PRFT) a leading information technology consulting firm in the central United States, today reported financial results for the quarter and year ended December 31, 2005.

Financial Highlights

For the fourth quarter ended December 31, 2005:

--Total revenue, including reimbursed expenses, was up 36% to $29.5 million compared to $21.6 million during the fourth quarter of 2004.

--Total services revenue, including reimbursed expenses, was up 74% to $24.8 million compared to $14.2 million during the fourth quarter of 2004.

--Cash earnings per share(1) on a fully diluted basis were up 50% to $0.09 compared to $0.06 per share during the fourth quarter of 2004.

--GAAP earnings per share on a fully diluted basis were up 33% to $0.08 compared to $0.06 per share during the fourth quarter of 2004.

--EBITDA(2) was up 56% to $4.1 million compared to $2.7 million during the fourth quarter of 2004.

--Net income was up 49% to $2.0 million compared to $1.3 million during the fourth quarter of 2004.

--Gross margin for services revenue was 35.0% compared to 38.4% in the fourth quarter of 2004.

--Gross margin for software revenue was 17.7% compared to 12.7% in the fourth quarter of 2004.

For the year ended December 31, 2005:

--Total revenue, including reimbursed expenses, was up 65% to $97.0 million compared to $58.8 million during 2004.

--Total services revenue, including reimbursed expenses, was up 92% to $87.6 million compared to $45.7 million during 2004.

--Cash earnings per share(1) on a fully diluted basis were up 57% to $0.33 compared to $0.21 per share during 2004.

--GAAP earnings per share on a fully diluted basis were up 47% to $0.28 compared to $0.19 per share during 2004.

--EBITDA(2) was up 87% to $14.5 million compared to $7.8 million during 2004.

--Net income was up 83% to $7.2 million compared to $3.9 million during 2004.

--Gross margin for services revenue was...

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