Subscribe to RSSFTI Consulting Misses Estimate – Analyst Blog
FTI Consulting Inc.’s ( FCN ) fourth quarter operating earnings of 71 cents per share fell marginally short of the Zacks Consensus Estimate of 73 cents, but were significantly higher than the 56 cents per share in the prior-year quarter. Net income increased 21.3% year-over-year to $36.6 million. Non-GAAP EBITDA was $80.8 million or 23.6% of revenues, compared to $70.6 million or 21.9% of revenues in the prior-year quarter. Results benefited primarily from a disciplined expense management and strong restructuring activities coupled by improvement in the litigation driven activities that drove M&A transactions. However, declining revenues from Technology and Strategic Communication segments hampered growth. FTI Consulting’s total revenue increased 6.2% year-over-year to $342.9 million. Quarterly revenue by business segments are as follows: Corporate Finance/Restructuring revenues increased 16.5% to $124.9 million from $107.3 million in the prior-year quarter on robust demand that drove higher chargeable hours and billing rates. The segment continued to be active in restructuring assignments in a broad range of industries being impacted by the global recession, including financial services, automotive, utility/energy, media and telecommunications. Strong contributions from its global expansion into non-U.S. markets such as the Canada and Latin America also enhanced growth. Forensic and Litigation Consulting revenues increased 5.5% to $61.8 million, compared to $58.6 million in the prior-year period. While intellectual property and domain expertise industry practices were strong due to several large financial fraud investigations, the levels of more routine commercial litigation and investigations remained soft on …
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FTI Consulting Misses Estimate – Analyst Blog
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