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Answerthink Comments On Impact of Dana Corporation's Chapter 11 Filing.


MIAMI Miami, cities, United States
Miami (mīăm`ē, –ə).

1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896.
 -- Answerthink, Inc. (Nasdaq:ANSR ANSR Autonomous Naval Support Round
ANSR Adaptive Network Solutions Research, Inc.
ANSR Advanced Neutron Source Reactor
ANSR Active No Swashplate Rotor (Army) 
), a strategic business advisory and technology consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee
consulting company

business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a
, today commented on the anticipated impact of the March 3, 2006 Chapter 11 business reorganization filing of one of its REL Consultancy Group customers, Dana Corp., and certain of Dana's U.S. subsidiaries under the U.S. Bankruptcy Code Bankruptcy Code may refer to:
  • Bankruptcy in Canada
  • Bankruptcy in the United States
  • Bankruptcy in China
.

Answerthink reported that it has approximately $800,000 in accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying  and unbilled revenue due from Dana as of the date of the bankruptcy filing. In addition, March revenue backlog of approximately $400,000 related to ongoing Dana projects may not to be realized unless the bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties.  approves the payment of fees under the existing or a new contract.

Answerthink anticipates that it will continue efforts to participate in the ongoing turnaround effort at Dana, but can provide no assurances that it will be successful in these efforts. Depending on the outcome of these efforts, the impact from the Dana filing could reduce the Company's previously provided first quarter 2006 revenue guidance by as much as $400,000 and proforma earnings per share guidance by as much as one and one half cents.

About Answerthink

Answerthink, Inc. (http://www.answerthink.com) is a leading business and technology consulting firm that enables companies to achieve world-class business performance. By leveraging the comprehensive database of The Hackett Group, Answerthink's business and technology solutions help clients significantly improve performance and maximize returns on technology investments. Answerthink's capabilities include benchmarking, business transformation, business applications, business intelligence, and offshore application development and support. Founded in 1997, Answerthink has offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  and in Europe and India.

About The Hackett Group

The Hackett Group (http://www.thehackettgroup.com), a strategic advisory firm and an Answerthink company, is a world leader in best practice research, benchmarking, business transformation and working capital management services that empirically define and enable world-class enterprise performance. The foundation of Hackett's services is a proprietary database of Hackett-Certified(TM) Practices, approaches that correlate with superior performance. Only The Hackett Group empirically defines world-class performance in sales, general and administrative (SG&A) and supply chain activities with analysis gained through 3,400 benchmark studies over 14 years at 2,000 of the world's leading companies. Hackett clients comprise 96 percent of the Dow Jones Dow Jones

the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202]

See : Finance
 Industrials, 77 percent of the Fortune 100 and 92 percent of the Dow Jones Global Titans The Dow Jones Global Titans 50 Index was created to reflect the globalization of international blue chip securities in the wake of mergers and the creation of mega-corporations.  Index.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 and involve known and unknown risks, uncertainties and other factors, including, in particular, statements regarding the financial impact of Dana Corporation's Chapter 11 bankruptcy filing, that may cause Answerthink's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that impact such forward-looking statements include, among others, the ability of the products, services, or practices mentioned in this release to deliver the desired effect, our ability to effectively integrate acquisitions into our operations, our ability to attract additional business, our ability to effectively market and sell our transformation advisory product offerings and other services, the timing of projects and the potential for contract cancellations by our customers, changes in expectations regarding the information technology industry, our ability to attract and retain skilled employees, possible changes in collections of accounts receivable, risks of competition, price and margin trends, changes in general economic conditions and interest rates as well as other risks detailed in the Company's Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the fiscal year ended December 31, 2004 filed with the Securities and Exchange Commission. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Mar 7, 2006
Words:620
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