270:
of $ 72.7 million, or 34 cents per share, in the same period a year earlier. The company recorded a net loss of $ 64.0 million, or 30 cents per share for the second quarter, compared with a loss of $ 2.85 million, or 1 cent per share, in the same period a year earlier. BearingPoint's shareholders' deficit was $ 365 million as of the close of the second quarter 2007 with a total accumulated deficit of $ 1.9 billion. On 11 August 2008, the company reported its first net income in three years and, as of the third quarter of 2008, had reported operating income for three consecutive quarters. During the third quarter of 2008, BearingPoint said its net loss was $ 30.5 million or $ 0.14 a share, an improvement of $ 37.5 million compared to the third quarter of 2007. BearingPoint's shareholders' deficit was $ 469.2 million as of the close of the third quarter 2008.
285:
ratio of one-for-fifty. The reverse stock split became effective at 6:01 p.m., Eastern Time, on 10 December 2008, at which time every fifty shares of Common Stock that were issued and outstanding automatically combined into one issued and outstanding share of Common Stock. On 13 November 2008, BearingPoint received notice from NYSE Regulation, Inc. (NYSE) that the NYSE had decided to suspend
BearingPoint's common stock from trading prior to the market opening on 17 November 2008.
27:
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277:. On 7 February 2007, BearingPoint announced that it had reached a settlement with Hawaiian Telcom due to issues with an IT system contract, paying the Hawaii telco $ 52 million and erasing an additional $ 30 million in previously submitted invoices. In exchange, Hawaiian Telcom released BearingPoint from any further liability. A day later, Hawaiian Telcom announced that it had signed a contract with
269:
BearingPoint was late in filing its financial reports through 2007. The
Company said its net loss for the first quarter ended 31 March 2007 narrowed as revenue grew and costs declined. The company recorded a net loss of $ 61.7 million, or 29 cents per share for the first quarter, compared with a loss
333:
BearingPoint is a partnership operated under a holding company that is based in
Amsterdam. It provides management and IT consulting services under three lines of business: Consulting, Products, and Capital. BearingPoint works in areas like IT security and streamlining business processes, largely for
324:
The
European BearingPoint partnership has grown its revenues since becoming independent, from €441 million in 2009 to €781 million (2019). It now has offices in 19 European countries, outside EMEA the firm has offices in Asia and the US, as part of its strategy of expanding its reach across the G-20
341:
The modern
BearingPoint partnership was formed after a 2009 bankruptcy of its predecessor, BearingPoint Inc., which used to be one of the world's largest business and IT consulting firms. BearingPoint was initially known for purchasing and installing IT equipment. Over time, it developed more of a
337:
In 2024, BearingPoint completed about 1,800 projects in 32 countries that year. However, the company's largest market is in
Germany, where it is the sixth largest consultancy in the country. As of 2024, 463 million euroes out of the company's 1 billion in annual revenue comes from German clients.
284:
On 10 December 2008, BearingPoint filed a
Certificate of Amendment to the Certificate of Incorporation of the company with the Secretary of State of the State of Delaware to effect a previously approved reverse stock split of the company's outstanding common stock, par value $ 0.01 per share, at a
288:
The company filed for
Chapter 11 in the U.S. Bankruptcy Court in the Southern District of New York on 18 February 2009, with $ 2.23 billion in total debt and $ 1.76 billion in total assets as of 30 September. The filing included only the company's U.S. operations. Unable to sustain the heavy debt
289:
load resulting from ill-advised expansion moves, costly management errors and audit fees associated with the bankruptcy process, the company negotiated debt for equity swaps with its creditors and zeroed the value of its common shares, wiping out existing investors.
228:, which were established as a distinct business unit in 1997. KPMG had been providing consulting services to clients since its first contract with the US Navy prior to World War I. On 31 January 2000, KPMG formally spun off the consulting unit as
292:
By May 2009, the company's Japan business unit and North
American Commercial Services practice had been sold to PwC and its North American Public Services practice had been sold to Deloitte. Its Brazil unit was sold to
313:
operations for $ 69 million and carried on the
BearingPoint name as a newly-formed partnership. It made 13 acquisitions from 2018 to early 2024 and opened new offices abroad in India, the United States, and China.
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266:. According to a report by Stephen Foley, "BearingPoint employees gave $ 117,000 (£60,000) to the 2000 and 2004 Bush election campaigns, more than any other Iraq contractor."
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countries and globally. To this end, BearingPoint also formed strategic alliances with West Monroe Partners in North America, Grupo ASSA in South America and ABeam in Asia.
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Robert Looney, "The Neoliberal Model's Planned Role in Iraq's Economic Transition", Middle East Journal, Vol. 57, No. 4 (Autumn 2003), pp. 568-586.
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Over the next year and a half, the company acquired some of KPMG's country consulting practices, plus country practices and hiring from
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focus on business process and consulting for large companies and governments for things like accounting or supply chain management.
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In Australia, BearingPoint completed a local management buy-out in September 2009. The China-based information technology company
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In February 2009 the company's US unit filed for Chapter 11 bankruptcy. Following restructuring and a
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BearingPoint had difficulties with several major clients, including an outsourcing arrangement with
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in August 2009, BearingPoint's continuing operations were organized as a Netherlands-based
1096:
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192:; they became a distinct business unit in 1997, and demerged entirely in 2000. After an
564:"Quarterly report pursuant to section 13 or 15(d) of the securities exchange act of 1934"
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Hawaiian Telcom at odds with biller | The Honolulu Advertiser | Hawaii's Newspaper
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Pearlstein, Steven (October 17, 2003). "BearingPoint Plays the Game Well".
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243:’s business consulting unit. On 2 October 2002, the company was re-named
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Chen, Zhiming (December 6, 2002). "BearingPoint counting on gold rush".
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Csc Enters Into Agreement To Acquire Bearingpoint Operation In Brazil
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acquired BearingPoint Australia for an undisclosed sum in July 2012.
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BearingPoint's origins lie in the consulting services operations of
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1005:
851:"Bearing Point macht erstmals mehr als eine Milliarde Euro Umsatz"
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526:"Shock and oil: Iraq's billions & the White House connection"
185:. It has operations in 23 countries with around 4,600 employees.
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621:. The Honolulu Advertiser (2006-11-08). Retrieved on 2013-07-19.
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189:
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The firm originated from the consulting services operations of
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to take over BearingPoint's role in their systems development.
16:
Multinational management and technology consulting firm company
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882:"BearingPoint joins consulting's illustrious €1 billion club"
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826:"BearingPoint's leaders on the firm's growth and ambitions"
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In 2009, 123 European executives bought-out BearingPoint's
232:, LLC. On 8 February 2001, the company went public on the
485:"BearingPoint Gets Contract To Help Rebuild Iraq Economy"
778:"Stefan Penthin takes over leadership of Bearing Point"
415:"Company Overview of BearingPoint Europe Holdings B.V."
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International information technology consulting firms
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483:Newswires, Peter LoftusDow Jones (July 25, 2003).
305:August 2009 to present (BearingPoint partnership)
236:market at $ 18 a share under the ticker "KCIN."
177:and technology consulting firm headquartered in
712:"BearingPoint completes sale of foreign units"
462:"BearingPoint files for bankruptcy protection"
440:"Annual Report 2020: Protect.Adapt.Accelerate"
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964:
652:. Pwcadvisory.co.jp. Retrieved on 2013-07-19.
499:"BearingPoint Wins $ 9 Million Iraq Contract"
8:
804:"BearingPoint buyout gives HiSoft a toehold"
297:in July 2009 and its China unit was sold to
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571:U.S. Securities and Exchange Commission
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220:1997 to August 2009 (BearingPoint Inc.)
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247:and the next day began trading on the
7:
1400:Consulting firms established in 2000
595:"IR Services | Morningstar U.S"
1201:List of management consulting firms
806:. The Australian. 25 September 2012
679:. Csc.com. Retrieved on 2013-07-19.
139:Kiumars Hamidian (Managing Partner)
114:(BearingPoint Europe Holdings B.V.)
468:. 18 February 2009. Archived from
14:
1036:Information technology consulting
828:. Consultancy Europe. 20 May 2019
366:from the original on 17 July 2011
196:in 2001, the company was renamed
168:BearingPoint Europe Holdings B.V.
20:BearingPoint Europe Holdings B.V.
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633:"Hawaiian Telcom hires new help"
1087:Certified management consultant
544:"BearingPoint financial report"
334:big companies and governments.
662:Darcy, Darlene (May 8, 2009).
1:
1310:Computer Sciences Corporation
1046:Risk and strategic consulting
301:in October of the same year.
262:policies such as large-scale
1395:Companies based in Amsterdam
96:(as a business unit of KPMG)
1206:List of IT consulting firms
1416:
1315:Computer Sciences Raytheon
360:"Corporations name change"
1218:
1031:Human resource consulting
637:archives.starbulletin.com
24:
1041:Public sector consulting
1021:Environmental consulting
1011:Biotechnology consulting
487:– via www.wsj.com.
1332:Electronic Data Systems
1147:Boston Consulting Group
631:Wu, Nina (2007-02-09).
251:under the ticker "BE."
249:New York Stock Exchange
1142:McKinsey & Company
1016:Engineering consulting
417:Bloomberg Businessweek
102:(KPMG Consulting, LLC)
996:Management consulting
700:on December 18, 2009.
650:プライスウォーターハウスクーパース株式会社
472:on December 27, 2010.
256:2003 invasion of Iraq
147:€1.017 billion (2023)
70:Management consulting
1107:Fixed-price contract
389:"Annual Report 2023"
1077:Business networking
1072:Business consultant
927:The Washington Post
532:. January 14, 2007.
153:Number of employees
108:(BearingPoint Inc.)
74:technology services
21:
1152:Bain & Company
1067:Accounting network
1001:Assurance services
888:. February 6, 2024
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1175:Ernst & Young
1117:Shareholder value
1102:Strategy+Business
1026:Financial adviser
718:. August 28, 2009
694:www.rossperot.com
205:management buyout
200:in October 2002.
198:BearingPoint Inc.
166:(parent company:
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911:. p. 6.
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890:. Retrieved
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855:Handelsblatt
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832:17 September
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782:Handelsblatt
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690:"Ross Perot"
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157:6,055 (2023)
120:Headquarters
105:October 2002
99:January 2000
56:Company type
41:BearingPoint
1051:Tax advisor
909:China Daily
857:(in German)
784:(in German)
749:(in German)
209:partnership
183:Netherlands
128:Netherlands
111:August 2009
80:Predecessor
60:Partnership
51:(1997–2002)
1379:Categories
1294:Ross Perot
1092:Consultant
980:Consulting
810:23 October
605:2016-02-07
421:24 October
346:References
260:neoliberal
254:After the
175:management
135:Key people
36:Trade name
1320:CSC India
989:expertise
987:Areas of
279:Accenture
179:Amsterdam
124:Amsterdam
1364:Team CSC
1341:Products
1289:Roy Nutt
1228:Category
1170:Deloitte
1162:Big Four
716:NBC News
446:5 August
370:7 August
364:Archived
329:Services
66:Industry
46:Formerly
1325:DynCorp
892:May 15,
722:May 28,
399:May 15,
215:History
170:) is a
144:Revenue
90:Founded
1277:People
1194:Others
1060:Others
861:May 3,
788:May 3,
753:May 3,
549:Forbes
466:Forbes
319:HiSoft
234:NASDAQ
1348:VP/MS
1126:Lists
1006:Audit
567:(PDF)
1180:KPMG
894:2024
863:2024
834:2019
812:2012
790:2024
755:2024
724:2024
448:2021
423:2012
401:2024
372:2011
311:EMEA
226:KPMG
190:KPMG
93:1997
1185:PwC
1134:MBB
295:CSC
194:IPO
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