The Hackett Group, Inc. (NASDAQ:HCKT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 05:00 pm ET


The Hackett Group, Inc. (NASDAQ:HCKT) Q2 2020 Earnings Conference Call - Final Transcript


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Welcome to The Hackett Group, Second Quarter's Earnings Conference Call. [Operator Instructions]. Hosting tonight's call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Rob Ramirez, Chief Financial Officer.

Mr. Ramirez, you may begin.

Robert A. Ramirez

Thank you, Operator. Good afternoon, everyone, and thank you for joining us to discuss The Hackett Group's second quarter results. Speaking on the call today and here to answer your questions, Ted Fernandez, Chairman and CEO of the Hackett Group; and myself, Rob Ramirez, Chief Financial Officer.

A press announcement was released over the wire at 4:05 P.M. Eastern Time. For a copy of the release, please visit our website at We will also place any additional financial or statistical data discussed on this call that is not contained in the release on the Investor Relations page of our website.

Before we begin, I would like to remind you that in the following comments and in the question-and-answer session, we will be making statements about expected future results, which may be forward-looking statements for the purposes of the federal securities laws. These statements relate to our current expectations, estimates and projections and are not a guarantee of future performance.

They involve risks, uncertainties and assumptions that are difficult to predict and which may not be accurate, especially in light of COVID-19. Actual results may vary. These forward-looking statements should be considered only in conjunction with the detailed information, particularly the risk factors that are contained in our SEC filings.

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

Ted A. Fernandez

Thank you, Rob, and welcome, everyone, to our second quarter earnings call. As we normally do, I will open the call with some overview comments on the quarter. I will then turn it back over to Rob to comment on the detailed operating results, cash flow as well as comment on outlook. We will then review our market and strategy-related comments, and then we will then proceed to Q&A.

Please allow me to start the call by acknowledging the incredible work and commitment of our health care providers, first responders, and those dedicated individuals who have continued to work non-stop and under, in some circumstances, very dangerous conditions to support all of us during this pandemic.

I would also like to acknowledge our associates and clients that quickly and successfully adapted to the remote delivery requirements around the globe. In spite of the limited notice and varying circumstances, I commend their focus to their respective client initiatives and in allowing substantially all of our engagements to continue. As I said last time, we eagerly wait for the conditions to exist where all of us around the globe are able to return to our normal lives, however that is ultimately defined.

Just to provide a little background on the quarter, let me go back to March. As I said last quarter, we started the year by aggressively adding associates and strategic hires, consistent with our 2020 growth prospects. As we started to feel the effects of