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BearingPoint Outlines 2008 Management Imperatives and Business Priorities
By Big4.com Staff Writers
BearingPoint, one of the leading management consulting companies of the world, outlines its management imperatives and business priorities for the year 2008 and beyond. Preliminary results are also provided by the company for the year 2007, and a financial outlook for the year 2008.
Ed Harbach, the CEO of BearingPoint said, “Going forward,
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BearingPoint will focus its efforts where we have a differentiated portfolio of expertise to better allow us to quickly reach and sustain profitability.” He further said that they must implement their plans and make profitability their main priority.
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Harbach said that public service is the main engine which drives their business. This established leader provides superior-quality technology consulting services to the federal and local government agencies and the U.S state, as well as a growing amount of international sovereigns. He further said that in this business, the growth potential is remarkable, and they also have good chances to leverage fine practices across their global organization.
Judy Ethell and Harbach, the CFO of the company outlined the company’s financial outlook for the year 2008 and un-audited 2007 financial results. Preliminary 2007 results are: Gross revenue in the range of around $3.45 billion to around 3.47 billion, attrition at around 24.7%, utilization at around 77.2%, bookings at around $2.865 billion, cash of around $470 million, weighted average shares of around 230 million, net revenue in the range of around $2.63 billion to around $2.65 billion, and gross profit in the range of around $465 million to around $485 million.
The company provided its financial outlook for the year 2008 for items such as: free flow of cash in the range of around $30 million to around $100 million, cash in the range of around $500 million to around $570 million, net income in the range of around $70 million to around $100 million, SG&A Expenses in the range of around $570 million to $585 million and net revenue slightly increasing or remaining flat.
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