Charles River Associates (NASDAQ:CRAI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:00 am ET


Charles River Associates (NASDAQ:CRAI) Q2 2020 Earnings Conference Call - Final Transcript


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Good day everyone and welcome to Charles River Second Quarter 2020 Conference Call. Today's call is being recorded. Today's release and prepared remarks from CRA's Chief Financial Officer are posted on the Investor Relations section of CRA's website as With us today are CRA's President and Chief Executive Officer, Paul Maleh; Chief Financial Officer, Dan Mahoney; and Chief Corporate Development Officer, Chad Holmes. At this time, I would like to turn the call over to Mr. Mahoney, for opening remarks. [Operator Instructions]

Daniel Mahoney

Thank you, Rob and good morning to everyone joining on the line. I hope everyone is doing well. Staying safe and healthy during these unusual time.

I would like to remind everyone that the statements made during this conference call, including statements concerning the future business, operating results or financial condition of CRAI, including those statements using the terms expect outlook or similar terms are forward-looking statements as defined in Section 21 of the Exchange Act.

Information contained in these forward-looking statements is based on management's current expectations and is inherently uncertain. An actual performance and results may differ materially from those expressed or implied in these statements due to many important factors, including the extent in duration of the impact of the COVID-19 pandemic on our financial condition and results of operations.

Additional information regarding these factors is included in today's release and in CRAI's periodic reports, including our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC. CRAI undertakes no obligation to update any forward-looking statements after the date of this call.

Additionally, we will refer to some non-GAAP financial measures and certain measures presented on a constant currency basis on this call. Everyone is encouraged to refer to today's release and related CFO remarks for reconciliations of these non-GAAP financial measures to their GAAP comparable measures and descriptions of the calculation of EBITDA and measures presented on a constant currency basis.

Let me now turn it over to Paul for his report.

Paul Maleh

Thanks Dan and good morning everyone. Thank you for joining us today. Continuing to build on a record fiscal 2019 theory reported its highest second quarter revenue in our company's history with balanced contributions across our portfolio of services.

We saw growth across both our legal, regulatory and management consulting services as well as in our North American and international operations. Our results were led by double-digit revenue growth year-over-year in each of our Finance, Forensic Services and Life Sciences practices, and continued strong contributions from our Labor & Employment and risk investigations and analytics practices.

Even with the success we continue to face the effects of the ongoing global health crisis. I want to take this opportunity to update you on how CRAI's adapting to this environment. Our first priority is the health and well-being of our people as we continue to address our client's most important business challenges. We are focused on providing our colleagues with the foundation of stability and safety