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BearingPoint has filed its audited 2005 financial statements and 2005 Form 10-K with the Securities and Exchange Commission and has provided information on its performance in the third quarter.
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| Consulting-Times E-zine
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BearingPoint provides key metrics for Q3 2006
“We are pleased to move another step forward in becoming current with our SEC filings,” said Harry You, BearingPoint's chief executive officer. He added that the filing puts the past behind the company and it is now moving ahead at completing its 2005 Form 10-Q's and 2006 filings. BearingPoint expects to hold its annual meeting of stockholders on December 14, 2006.
You concluded: “In the meantime, as demonstrated by the third quarter 2006 business metrics, our core business continues to perform well and BearingPoint is well-positioned for continued success in the future.”
Q3 2006 Key Metrics
BearingPoint also reported key business metrics for the third quarter ended September 30, 2006, which were driven by solid performance in the Company's core business and continued traction in the marketplace. Highlights of BearingPoint's third-quarter performance include:
* Bookings of $811 million, consistent with Q2 of 2006 and a five percent increase over the same quarter in 2005. Total bookings for the first nine months of 2006 were approximately $2.4 billion;
* Voluntary total employee turnover of 27.5 percent, representing a slight improvement over Q2 2006 and flat over Q3 2005;
* Total workforce utilization of 77.2 percent up from 76.8 percent in Q2 2006 and up from 74.7 percent in Q3 2005;
* Billable headcount of approximately 15,300, a slight increase from Q2 2006 and flat year-over-year.
In addition, as of September 30, 2006, cash balances were approximately $274 million.
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