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Forbes Ranks Whittman-Hart Among America's Top Small Companies for Second Consecutive Year.


CHICAGO--(BUSINESS WIRE)--Nov. 24, 1998--Whittman-Hart, Inc. (NASDAQ:WHIT), one of the nation's leading information technology (IT) services firms, recently was named to Forbes' annual list of the 200 Best Small Companies in America in its November 2, 1998 issue. This is the second consecutive year Whittman-Hart has been recognized on the list.

Companies considered must have earnings of at least $1 million for the latest 12-month period and a five-year average return on equity of at least 14 percent. Forbes reviewed more than 6,000 companies before selecting the final list.

"Being recognized two years in a row by Forbes for our continued success and profitability is a prestigious honor for Whittman-Hart," said Robert Bernard, CEO, Whittman-Hart. "This award is especially significant because we are one of only 50 technology companies included on this year's list."

The Forbes figures did not include the company's outstanding third quarter results. On October 9, 1998 Whittman-Hart reported record performance driven by a 71 percent increase in revenues. The company's third quarter revenues rose to approximately $82.1 million from $47.9 million for the same period last year. Net income, before costs associated with the acquisition of North Central Consulting, Inc. (NCC), climbed 86 percent to $5.9 million or 11 cents per share compared to $3.2 million or 6 cents per share (split adjusted) over the same period last year. Costs associated with the acquisition include business-combination costs and tax effects resulting from NCC's change in tax structure to a C corporation from an S corporation. Net income after these charges was $5.1 million or 9 cents per share.

About Whittman-Hart

Headquartered in Chicago, Whittman-Hart helps clients improve marketplace performance through the strategic use of information technology. In 1997 Forbes named Whittman-Hart one of the 200 Best Small Companies in America. In 1998, Standard & Poor's added Whittman-Hart to its S&P SmallCap 600 Index, and Consultants' News ranked Whittman-Hart one of the 50 Largest Management Consultants in the country. The Company has more than 2,700 employees in 16 offices throughout the United States and United Kingdom. Its Web site is www.whittman-hart.com.

COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Nov 25, 1998
Words:355
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