Attached files
Exhibit 99.1
Hill International, Inc.
Item 6. Selected Financial Data
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
| Income Statement Data: |
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| Consulting fee revenue |
$ | 333,882 | $ | 203,118 | $ | 129,987 | $ | 80,108 | $ | 63,039 | ||||||||||
| Reimbursable expenses |
46,600 | 87,205 | 67,485 | 32,121 | 21,068 | |||||||||||||||
| Total revenue |
380,482 | 290,323 | 197,472 | 112,229 | 84,107 | |||||||||||||||
| Cost of services |
182,728 | 106,824 | 71,022 | 43,276 | 34,365 | |||||||||||||||
| Reimbursable expenses |
46,600 | 87,205 | 67,485 | 32,121 | 21,068 | |||||||||||||||
| Total direct expenses |
229,328 | 194,029 | 138,507 | 75,397 | 55,433 | |||||||||||||||
| Gross profit |
151,154 | 96,294 | 58,965 | 36,832 | 28,674 | |||||||||||||||
| Selling, general and administrative expenses |
132,614 | 80,903 | 48,672 | 31,861 | 29,231 | |||||||||||||||
| Equity in earnings of affiliates |
(3,658 | ) | (2,221 | ) | (1,080 | ) | (685 | ) | (458 | ) | ||||||||||
| Operating profit (loss) |
22,198 | 17,612 | 11,373 | 5,656 | (99 | ) | ||||||||||||||
| Interest (income) expense, net |
(134 | ) | 433 | 312 | 669 | 597 | ||||||||||||||
| Earnings (loss) before provision (benefit) for income taxes |
22,332 | 17,179 | 11,061 | 4,987 | (696 | ) | ||||||||||||||
| Provision (benefit) for income taxes |
3,654 | 2,788 | 2,534 | 1,845 | (272 | ) | ||||||||||||||
| Consolidated net earnings |
18,678 | 14,391 | 8,527 | 3,142 | (424 | ) | ||||||||||||||
| Less: net earnings (loss) — noncontrolling interests |
1,027 | 247 | (53 | ) | — | — | ||||||||||||||
| Net earnings (loss) attributable to Hill International, Inc. |
$ | 17,651 | $ | 14,144 | $ | 8,580 | $ | 3,142 | $ | (424 | ) | |||||||||
| Basic earnings (loss) per common share |
$ | 0.43 | $ | 0.53 | $ | 0.50 | $ | 0.27 | $ | (0.04 | ) | |||||||||
| Basic weighted average common shares outstanding |
40,809 | 26,720 | 17,240 | 11,644 | 11,586 | |||||||||||||||
| Diluted earnings (loss) per common share |
$ | 0.43 | $ | 0.45 | $ | 0.46 | $ | 0.23 | $ | (0.04 | ) | |||||||||
| Diluted weighted average common shares outstanding |
41,148 | 31,387 | 18,489 | 13,894 | 11,586 | |||||||||||||||
| 12/31/2008 | 12/31/2007 | 12/30/2006 | 12/31/2005 | 1/1/2005 | |||||||||||
| Selected Balance Sheet Data: |
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| Cash and cash equivalents |
$ | 20,430 | $ | 66,128 | $ | 11,219 | $ | 2,716 | $ | 802 | |||||
| Accounts receivable, net |
118,124 | 83,151 | 61,159 | 27,623 | 21,584 | ||||||||||
| Current assets |
161,492 | 162,428 | 83,344 | 33,351 | 24,886 | ||||||||||
| Total assets |
254,041 | 207,199 | 118,993 | 40,723 | 33,331 | ||||||||||
| Current liabilities |
80,563 | 59,648 | 50,835 | 31,707 | 19,616 | ||||||||||
| Total debt |
18,887 | 3,312 | 11,287 | 10,374 | 10,810 | ||||||||||
| Stockholders’ equity: |
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| Attributable to Hill International, Inc. |
135,506 | 128,371 | 46,036 | 6,159 | 2,041 | ||||||||||
| Attributable to noncontrolling interests |
3,510 | 259 | 286 | — | — | ||||||||||
| Total stockholders’ equity |
$ | 139,016 | $ | 128,630 | $ | 46,322 | $ | 6,159 | $ | 2,041 | |||||