XML 60 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues:      
Services $ 386,668us-gaap_SalesRevenueServicesNet $ 326,589us-gaap_SalesRevenueServicesNet $ 286,548us-gaap_SalesRevenueServicesNet
Software and hardware 52,776prft_SoftwareAndHardwareRevenues 30,224prft_SoftwareAndHardwareRevenues 25,188prft_SoftwareAndHardwareRevenues
Reimbursable expenses 17,248us-gaap_ReimbursementRevenue 16,512us-gaap_ReimbursementRevenue 15,360us-gaap_ReimbursementRevenue
Total revenues 456,692us-gaap_Revenues 373,325us-gaap_Revenues 327,096us-gaap_Revenues
Cost of revenues (exclusive of depreciation and amortization, shown separately below)      
Project personnel costs 239,862us-gaap_LaborAndRelatedExpense 202,897us-gaap_LaborAndRelatedExpense 182,719us-gaap_LaborAndRelatedExpense
Software and hardware costs 47,235prft_SoftwareAndHardwareCosts 26,648prft_SoftwareAndHardwareCosts 21,536prft_SoftwareAndHardwareCosts
Reimbursable expenses 17,248us-gaap_CostOfReimbursableExpense 16,512us-gaap_CostOfReimbursableExpense 15,360us-gaap_CostOfReimbursableExpense
Other project-related expenses 3,012us-gaap_OtherCostOfServices 4,169us-gaap_OtherCostOfServices 4,078us-gaap_OtherCostOfServices
Total cost of revenues 307,357us-gaap_CostOfRevenue 250,226us-gaap_CostOfRevenue 223,693us-gaap_CostOfRevenue
Gross margin 149,335us-gaap_GrossProfit 123,099us-gaap_GrossProfit 103,403us-gaap_GrossProfit
Selling, general, and administrative 90,202us-gaap_SellingGeneralAndAdministrativeExpense 77,601us-gaap_SellingGeneralAndAdministrativeExpense 64,853us-gaap_SellingGeneralAndAdministrativeExpense
Depreciation 3,734us-gaap_Depreciation 3,262us-gaap_Depreciation 2,251us-gaap_Depreciation
Amortization 14,453us-gaap_AmortizationOfIntangibleAssets 7,974us-gaap_AmortizationOfIntangibleAssets 7,827us-gaap_AmortizationOfIntangibleAssets
Acquisition costs 3,446us-gaap_BusinessCombinationAcquisitionRelatedCosts 2,297us-gaap_BusinessCombinationAcquisitionRelatedCosts 1,871us-gaap_BusinessCombinationAcquisitionRelatedCosts
Adjustment to fair value of contingent consideration (1,463)prft_BusinessAcquisitionContingentConsiderationAdjustmentToFairValue 287prft_BusinessAcquisitionContingentConsiderationAdjustmentToFairValue 517prft_BusinessAcquisitionContingentConsiderationAdjustmentToFairValue
Income from operations 38,963us-gaap_OperatingIncomeLoss 31,678us-gaap_OperatingIncomeLoss 26,084us-gaap_OperatingIncomeLoss
Net interest expense (1,438)us-gaap_InterestIncomeExpenseNet (293)us-gaap_InterestIncomeExpenseNet (143)us-gaap_InterestIncomeExpenseNet
Net other (expense) income (5)us-gaap_OtherNonoperatingIncomeExpense 112us-gaap_OtherNonoperatingIncomeExpense 44us-gaap_OtherNonoperatingIncomeExpense
Income before income taxes 37,520us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 31,497us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 25,985us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Provision for income taxes 14,357us-gaap_IncomeTaxExpenseBenefit 10,065us-gaap_IncomeTaxExpenseBenefit 9,878us-gaap_IncomeTaxExpenseBenefit
Net income $ 23,163us-gaap_NetIncomeLoss $ 21,432us-gaap_NetIncomeLoss $ 16,107us-gaap_NetIncomeLoss
Basic net income per share (in dollars per share) $ 0.73us-gaap_EarningsPerShareBasic $ 0.71us-gaap_EarningsPerShareBasic $ 0.54us-gaap_EarningsPerShareBasic
Diluted net income per share (in dollars per share) $ 0.70us-gaap_EarningsPerShareDiluted $ 0.67us-gaap_EarningsPerShareDiluted $ 0.52us-gaap_EarningsPerShareDiluted
Shares used in computing basic net income per share (in shares) 31,698us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 30,294us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 29,536us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Shares used in computing diluted net income per share (in shares) 33,158us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 31,808us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 31,086us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding