Hackett: CFO.com, "Faulty Forecasts on a Roll"

Business Wire, July 16, 2008

ATLANTA & LONDON -- Faulty forecasts have been the downfall of many CFOs. Last year the retirement of Motorola's finance chief, David Devonshire, coincided with the technology company dropping its revenue projections by a billion dollars in the first quarter. At Ericsson, the telecommunications giant, the CFO departed last October after profits came in short and share prices fell by 30 percent.

Despite such consequences, companies are continuing to struggle with accurate forecasts -- both internally and in the numbers they report to Wall Street. New research from The Hackett Group, a business consultancy, finds that two-thirds of 70 surveyed U.S. and European companies are missing their forecasted earnings by at least 6 percent, up to a high of 30 percent.

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More information on this study and other Hackett Research is also available at: http://www.thehackettgroup.com/about/alerts.jsp

About The Hackett Group

The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory firm, is a leader in best practice advisory, benchmarking, and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insights from more than 4,000 benchmarking engagements, executives use Hackett's empirically based approach to quickly define and prioritize initiatives to enable world-class performance. Through its REL brand, Hackett offers working capital solutions focused on delivering significant cash flow improvements. Through its Hackett Technology Solutions group, Hackett offers business application consulting services that helps maximize returns on IT investments. Hackett has worked with 2,700 major corporations and government agencies, including 97% of the Dow Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and 45% of the FTSE 100.

Founded in 1991, The Hackett Group was acquired by Answerthink, which was renamed The Hackett Group in 2008. The Hackett Group has global offices in the United States, Europe and India.

More information on The Hackett Group is available: by phone at (770) 225-7300; by e-mail at info@thehackettgroup.com; or on the Web at www.thehackettgroup.com.