Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Data (Unaudited)

15. Quarterly Financial Data (Unaudited)

	Quarter Ended
	April 2, 2016		July 2, 2016			October 1, 2016		December 31, 2016
	(In thousands, except per share data)
Revenues	$	80,912	$	82,607		$	81,691	$	79,569
Gross profit		25,397		24,657			23,859		23,486
Income from operations		4,326		5,680			5,297		3,615
Income before provision for income taxes		4,185		9,269			5,060		3,375
Net income		2,239		6,767			3,151		2,076
Net (income) loss attributable to noncontrolling interest, net of tax		184		(1,552	)		42		(18	)
Net income attributable to CRA International, Inc.	$	2,423	$	5,215		$	3,193	$	2,058
Basic net income per share	$	0.27	$	0.60		$	0.39	$	0.25
Diluted net income per share	$	0.27	$	0.59		$	0.38	$	0.24
Weighted average number of shares outstanding:
Basic		8,871		8,695			8,177		8,269
Diluted		8,927		8,779			8,309		8,443

	Quarter Ended
	April 4, 2015			July 4, 2015		October 3, 2015		January 2, 2016
	(In thousands, except per share data)
Revenues	$	78,039		$	76,535	$	76,525	$	72,460
Gross profit		24,220			25,860		24,496		21,333
Income (loss) from operations		4,476			5,648		4,581		(2,310	)
Income (loss) before provision for income taxes		4,631			5,391		4,346		(2,553	)
Net income (loss)		2,899			3,202		2,813		(2,589	)
Net (income) loss attributable to noncontrolling interest, net of tax		(120	)		123		47		1,282
Net income (loss) attributable to CRA International, Inc.	$	2,779		$	3,325	$	2,860	$	(1,307	)
Basic net income (loss) per share	$	0.30		$	0.37	$	0.32	$	(0.15	)
Diluted net income (loss) per share	$	0.30		$	0.36	$	0.31	$	(0.15	)
Weighted average number of shares outstanding:
Basic		9,190			9,034		8,940		8,876
Diluted		9,403			9,253		9,025		8,876

Total net income (loss) per share was computed using the two-class method earnings allocation formula when there were earnings to distribute to participating securities in a given quarter. In those quarters above that include a net loss for the quarter, the two-class method would not apply. As such, the aggregate net income (loss) per share for fiscal 2015 as a whole would not agree in the aggregate with the quarterly information presented above.

During the fourth quarter of fiscal 2015, GNU incurred an impairment loss of $4.5 million. After considering taxes and allocation of net losses to noncontrolling interest, the net charge amounted to $1.6 million.

During the fourth quarter of fiscal 2015, CRA identified a prior period error, relating to client reimbursable revenue and expenses, and recorded an adjustment of $0.7 million to revenue and $0.3 million to pre-tax income to correct this error. CRA concluded that this error was not material to its prior reporting periods.