Press release

Perficient Completes Acquisition of Sundog Interactive

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(NASDAQ: PRFT) (“Perficient”), the leading digital
transformation consulting firm serving Global 2000 and other large
enterprise customers throughout North America, today announced it has
completed the acquisition of Sundog Interactive, Inc., a $14 million
marketing and technology consulting firm that delivers Salesforce
solutions for the world’s leading manufacturers. The signing of the
definitive agreement was previously announced on May 13, 2019.

Business Outlook
The following statements are based on
current expectations. These statements are forward-looking and actual
results may differ materially. See “Safe Harbor Statement” below.

As a result of the acquisition and continued organic strength,
Perficient is raising its second quarter 2019 revenue guidance range
from $132 million to $138 million to $135 million to $140 million and
adjusting second quarter GAAP earnings per share from $0.22 to $0.25 to
$0.21 to $0.24, reflecting the impact of transaction costs. We are also
reaffirming that second quarter adjusted earnings per share (a non-GAAP
measure; see attached schedule which reconciles to GAAP earnings per
share guidance) is expected to be in the range of $0.46 to $0.49.

Additionally, Perficient is raising its previously provided full year
2019 revenue guidance range from $535 million to $560 million to $545
million to $570 million, reaffirming its 2019 GAAP earnings per share
guidance range of $0.90 to $1.02 and raising its 2019 adjusted earnings
per share (a non-GAAP measure; see attached schedule which reconciles to
GAAP earnings per share guidance) guidance range from $1.80 to $1.92 to
$1.82 to $1.94.

About Perficient
Perficient is the leading digital
transformation consulting firm serving Global 2000® and enterprise
customers throughout North America. With unparalleled information
technology, management consulting, and creative capabilities, Perficient and
its Perficient
 agency deliver vision, execution, and value with outstanding
digital experience, business optimization, and industry solutions. Our
work enables clients to improve productivity and competitiveness; grow
and strengthen relationships with customers, suppliers, and partners;
and reduce costs. Perficient’s professionals serve clients from a
network of offices across North America and offshore locations in India
and China. Traded on the Nasdaq Global Select Market, Perficient is a
member of the Russell 2000 index and the S&P SmallCap 600 index.
Perficient is an award-winning Adobe Premier Partner, Platinum Level IBM
business partner, a Microsoft National Service Provider and Gold
Certified Partner, an Oracle Platinum Partner, an Advanced Pivotal Ready
Partner, a Gold Salesforce Consulting Partner, and a Sitecore Platinum
Partner. For more information, visit

Safe Harbor Statement
Some of the statements contained in
this news release that are not purely historical statements discuss
future expectations or state other forward-looking information related
to financial results and business outlook for 2019. Those statements are
subject to known and unknown risks, uncertainties, and other factors
that could cause the actual results to differ materially from those
contemplated by the statements. The forward-looking information is based
on management’s current intent, belief, expectations, estimates, and
projections regarding our company and our industry. You should be aware
that those statements only reflect our predictions. Actual events or
results may differ substantially. Important factors that could cause our
actual results to be materially different from the forward-looking
statements include (but are not limited to) those disclosed under the
heading “Risk Factors” in our most recently filed annual report on Form
10-K, and the following:

(1)     the possibility that our actual results do not meet the projections
and guidance contained in this news release;
(2) the impact of the general economy and economic and political
uncertainty on our business;
(3) risks associated with potential changes to federal, state, local and
foreign laws, regulations and policies;
(4) risks associated with the operation of our business generally,
            a)   client demand for our services and solutions;
b) maintaining a balance of our supply of skills and resources with
client demand;
c) effectively competing in a highly competitive market;
d) protecting our clients’ and our data and information;
e) risks from international operations including fluctuations in
exchange rates;
f) changes to immigration policies;
g) obtaining favorable pricing to reflect services provided;
h) adapting to changes in technologies and offerings;
i) risk of loss of one or more significant software vendors;
j) making appropriate estimates and assumptions in connection with
preparing our consolidated financial statements;
k) maintaining effective internal controls; and
l) changes to tax levels, audits, investigations, tax laws or their
(5) risks associated with managing growth organically and through
(6) risks associated with servicing our debt, the potential impact on
the value of our common stock from the conditional conversion
features of our debt and the associated convertible note hedge
(7) legal liabilities, including intellectual property protection and
infringement or the disclosure of personally identifiable
information; and
(8) the risks detailed from time to time within our filings with the
Securities and Exchange Commission.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance, or achievements. This
cautionary statement is provided pursuant to Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act of 1934,
as amended. The forward-looking statements in this release are made only
as of the date hereof and we undertake no obligation to update publicly
any forward-looking statement for any reason, even if new information
becomes available or other events occur in the future.

About Non-GAAP Financial Information
This news release
includes non-GAAP financial measures. Perficient provides these non-GAAP
financial measures as supplemental information regarding Perficient’s
business performance. Perficient believes that these non-GAAP financial
measures are useful to investors because they provide investors with a
better understanding of Perficient’s past financial performance and
future results. Perficient’s management uses these non-GAAP financial
measures when it internally evaluates the performance of Perficient’s
business and makes operating decisions, including internal operating
budgeting, performance measurement, and the calculation of bonuses and
discretionary compensation. For a reconciliations of these non-GAAP
financial measures to the most directly comparable financial measures
prepared in accordance with Generally Accepted Accounting Principles
(“GAAP”), please see the table below entitled “Reconciliation of GAAP to
Non-GAAP Measures.” For a description of these non-GAAP financial
measures, including the reasons management uses each measure and how
they are calculated, please see Perficient’s filings with the SEC.




    Q2 2019     Full Year 2019

Low end of


High end
of adjusted

Low end of


High end
of adjusted

GAAP EPS $ 0.21 $ 0.24 $ 0.90 $ 1.02
Non-GAAP adjustment (1):
Non-GAAP reconciling items 0.32 0.32 1.21 1.21
Tax effect of reconciling items   (0.07 )   (0.07 )   (0.29 )   (0.29 )
Adjusted EPS $ 0.46   $ 0.49   $ 1.82   $ 1.94  

(1) Non-GAAP adjustment represents the impact of amortization expense,
stock compensation, amortization of debt discount and issuance costs,
acquisition costs, and adjustments to fair value of contingent
consideration, net of the tax effect of these adjustments, divided by
fully diluted shares. Perficient currently expects its Q2 2019 and full
year 2019 GAAP effective income tax rate to be approximately 28% and
24%, respectively.