CRA International, Inc. (NASDAQ:CRAI), a global consulting firm, announced the results of its annual shareholder meeting held on July 18, 2024. Shareholders elected three Class II directors and approved executive compensation, as well as ratified the appointment of the company's independent auditors for the upcoming fiscal year.
During the meeting, shareholders cast their votes to elect Alva Taylor, Heather Tookes, and Karen Keenan as Class II directors, each for a three-year term. The election saw Alva Taylor receive 5,996,730 votes for and 184,426 withheld, Heather Tookes with 5,988,392 votes for and 192,764 withheld, and Karen Keenan garnering 6,083,358 votes for with 97,798 withheld. Additionally, there were 322,565 broker non-votes for each director nominee.
In an advisory vote on executive compensation, shareholders showed their support for the pay packages of the named executive officers. The proposal was approved with 5,832,262 votes for, 327,209 against, and 21,685 abstentions. There were also 322,565 broker non-votes associated with this proposal.
The company, headquartered in Boston, Massachusetts, is known for providing expert legal, economic, and management consulting services. The results of the shareholder meeting reflect the investors' confidence in the company's leadership and strategic direction.
In other recent news, Charles River Associates (CRA) has announced record-breaking Q1 fiscal 2024 results. The global consulting firm reported a significant revenue increase to $171.8 million, marking the highest quarterly revenue in the firm's history. This growth was seen across various practices, with the Antitrust & Competition Economics practice achieving a new high for quarterly revenue. Despite this strong performance, CRA has decided to maintain its full-year financial guidance due to ongoing market uncertainties.
The company also reported significant growth in non-GAAP net income, earnings per diluted share, and EBITDA. Additionally, CRA has returned $12.3 million to shareholders through dividends and share repurchases. Amidst these recent developments, the firm continues to see a healthy flow of high-quality talent and is cautiously adding to its headcount while evaluating potential acquisitions.
InvestingPro Insights
CRA International, Inc. (NASDAQ:CRAI) continues to demonstrate financial resilience and shareholder value as evidenced by its recent performance metrics. With a market capitalization of $1.24 billion, the company trades at a P/E ratio of 29.21, reflecting investor confidence in its earnings potential. The firm has also seen a revenue growth of nearly 8% over the last twelve months as of Q1 2024, indicating steady business expansion.
Two InvestingPro Tips highlight notable aspects of CRA International's financial outlook. Firstly, the company has consistently rewarded its shareholders by raising its dividend for 8 consecutive years, a testament to its financial health and commitment to returning value. Additionally, analysts have a positive outlook on the company's profitability, predicting it will remain profitable this year, which aligns with the sentiments expressed by shareholders at the annual meeting.
Investors seeking more detailed analysis and additional InvestingPro Tips can explore the full range of insights available at https://www.investing.com/pro/CRAI. There are currently 11 additional tips listed on InvestingPro to help guide investment decisions. To access these insights, users can take advantage of a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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