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FTI Consulting, Inc. Reports 2012 Third Quarter Results

- Revenues $386.1 Million

- Adjusted EPS $0.60

- Net Cash Provided by Operating Activities $70.9 Million

- $20 Million of Share Repurchases During the Quarter

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WEST PALM BEACH, Fla., Nov. 8, 2012 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value (the "Company"), today reported its financial results for the quarter ended September 30, 2012.

For the quarter, revenues were $386.1 million, down 6.7 percent from record quarterly revenues in the prior year quarter. Adjusted EBITDA was $62.3 million or 16.1 percent of revenues compared to $72.7 million or 17.6 percent of revenues in the prior year quarter. Fully diluted earnings per share ("EPS") for the quarter were $0.55, including a special charge of $2.8 million related to the reduction of leased office space in four locations initiated in the second quarter and concluded in September, reducing EPS by $0.05. Adjusted EPS were $0.60 compared to $0.70 in the prior year quarter. Adjusted EPS, Adjusted EBITDA and Adjusted Segment EBITDA are non-GAAP measures defined elsewhere in this press release and are reconciled to GAAP measures in the financial tables that accompany this press release.

Net cash provided by operating activities in the quarter was $70.9 million compared to $59.7 million in the prior year quarter, and the Company repurchased and retired 757,650 shares of its common stock at an average price of $26.40 for a total purchase price of $20 million.

Commenting on these results, Jack Dunn, President and Chief Executive Officer of FTI Consulting said, "Third quarter results were in line with our expectations and guidance. We also began to see the benefit of the expense reduction program we implemented in the second quarter and recently concluded. Going forward we will continue to invest capital in growth opportunities such as our industry initiatives and in geographic opportunities such as our recent acquisition of a restructuring practice in Australia.  We will also repurchase our shares under the $250 million program authorized by our board in June."

Third Quarter Segment Results

Corporate Finance/Restructuring
Corporate Finance/Restructuring revenues were $110.2 million, approximately equal to revenues in the prior year quarter. In terms of mix, we saw slightly higher success fees and lower chargeable hours in our North America bankruptcy and restructuring practice, stronger demand in our healthcare practice and lower demand in real estate.

Adjusted Segment EBITDA was $25.0 million, or 22.7 percent of segment revenues, compared to $27.5 million, or 24.9 percent of segment revenues, in the prior year quarter due to higher headcount.

Economic Consulting
Economic Consulting revenues were $96.4 million compared to $95.7 million in the prior year quarter. Revenues were driven by continued strong performance in antitrust litigation, financial economics, international arbitration and regulatory consulting engagements, particularly in the energy and transportation industries, with some slowing in the mergers and acquisitions ("M&A") market and increased pricing pressure in our international arbitration and valuation practices in the Europe, Middle East and Africa ("EMEA") region.

Adjusted Segment EBITDA was $19.1 million, or 19.8 percent of segment revenues, compared to $18.7 million, or 19.5 percent of segment revenues in the prior year quarter.

Forensic and Litigation Consulting
Forensic and Litigation Consulting revenues were $83.4 million compared to all-time record revenues of $99.1 million in the prior year quarter. The segment's global risk and investigations practice in Latin America continued to grow, while the North America region, including financial and enterprise data analytics, experienced a decline from the record levels in the prior year quarter.

Adjusted Segment EBITDA was $13.2 million in the quarter or 15.8 percent of segment revenues compared to $19.1 million or 19.3 percent of segment revenues in the prior year quarter as a result of reduced revenue despite the favorable impact of headcount reductions taken in the second quarter of 2012.

Technology
Technology revenues were $50.3 million compared to $57.0 million in the prior year quarter. Revenues were negatively impacted by lower pricing in the quarter due to competitive factors and business mix and the wind down of certain large investigation and litigation related matters.

Adjusted Segment EBITDA for the quarter was $15.7 million, or 31.2 percent of segment revenues, compared to $19.6 million, or 34.4 percent of segment revenues, in the prior year quarter, as the impact of lower revenues was partially offset by lower overhead and research and development costs.

Strategic Communications
Strategic Communications revenues were $45.8 million compared to $51.8 million in the prior year quarter. The estimated impact of foreign currency translation reduced revenues in the quarter by 2.3 percent. Revenues declined due to fewer M&A and natural resource related projects in the Asia Pacific region, lower project income in the North America region and continued pricing pressure on retainer fees and depressed capital markets activity worldwide.

Adjusted Segment EBITDA was $6.8 million, or 14.8 percent of segment revenues, compared to $7.4 million, or 14.3 percent of segment revenues, in the prior year quarter. The increase in Adjusted Segment EBITDA margin was primarily due to lower variable compensation expenses.

Third Quarter Conference Call
FTI Consulting, Inc. will hold a conference call for analysts and investors to discuss third quarter financial results at 9:00 AM Eastern Time on November 8, 2012. The call can be accessed live and will be available for replay over the Internet for 90 days by logging onto the Company's website, www.fticonsulting.com.

About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,800 employees located in 24 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.57 billion in revenues during fiscal year 2011. More information can be found at www.fticonsulting.com.

Use of Non-GAAP Measures
Note: We define Adjusted EBITDA as net income before income tax provision, other income (expense), depreciation, amortization of intangible assets and special charges. We define Adjusted Segment EBITDA as a segment's share of consolidated operating income before depreciation, amortization of intangible assets and special charges. We define Adjusted Net Income and Adjusted EPS as net income and earnings per diluted share, respectively, excluding the net impact of any special charges and any loss on early extinguishment of debt that were incurred in that period. Adjusted EBITDA, Adjusted Segment EBITDA, Adjusted EPS and Adjusted Net Income are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. These non-GAAP measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income (Loss). We believe that these measures can be useful operating performance measures for evaluating our results of operations as compared from period-to-period and as compared to our competitors. EBITDA is a common alternative measure of operating performance used by investors, financial analysts and rating agencies to value and compare the financial performance of companies in our industry. We use Adjusted EBITDA and Adjusted Segment EBITDA to evaluate and compare the operating performance of our segments. Reconciliations of GAAP to Non-GAAP financial measures are included in the accompanying tables to this press release. EBITDA is a common alternative measure of operating performance used by investors, financial analysts and rating agencies to value and compare the financial performance of companies in our industry.

Safe Harbor Statement
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will be achieved, and the Company's actual results may differ from our expectations, beliefs and estimates. Further, preliminary results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, adverse financial, real estate or other market and general economic conditions, which could impact each of our segments differently, the pace and timing of the consummation and integration of past and future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading "Item 1A Risk Factors" in the Company's most recent Form 10-K and in the Company's other filings with the Securities and Exchange Commission, including the risks set forth under "Risks Related to Our Business Segments" and "Risks Related to Our Operations". We are under no duty to update any of the forward looking statements to conform such statements to actual results or events and do not intend to do so.

FINANCIAL TABLES FOLLOW

FTI CONSULTING, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(in thousands, except per share data)

(unaudited)






Nine Months Ended


September 30,


2012


2011





Revenues

$ 1,177,526


$ 1,176,055





Operating expenses




Direct cost of revenues

735,452


723,903

Selling, general and administrative expense

283,958


280,364

Special charges

29,557


15,212

Acquisition-related contingent consideration

(2,581)


2,538

Amortization of other intangible assets

16,773


16,795


1,063,159


1,038,812





Operating income

114,367


137,243





Other income (expense)




Interest income and other

4,503


5,409

Interest expense

(43,607)


(44,129)


(39,104)


(38,720)





Income before income tax provision

75,263


98,523





Income tax provision

26,372


34,501





Net income 

$      48,891


$      64,022





Earnings  per common share - basic

$          1.21


$          1.54

Weighted average common shares outstanding - basic

40,446


41,535





Earnings per common share - diluted

$          1.17


$          1.47

Weighted average common shares outstanding - diluted

41,882


43,671





Other comprehensive income, net of tax:




Foreign currency translation adjustments, including tax expense




   (benefit) of $0 and ($1,568) in 2012 and 2011, respectively

$      14,620


$           782

Other comprehensive income, net of tax

14,620


782

Comprehensive income

$      63,511


$      64,804





 

 

FTI CONSULTING, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(in thousands, except per share data)

(unaudited)






Three Months Ended


September 30,


2012


2011





Revenues

$ 386,055


$ 413,802





Operating expenses




Direct cost of revenues

241,614


249,975

Selling, general and administrative expense

88,909


97,618

Special charges

2,775


-

Acquisition-related contingent consideration

403


944

Amortization of other intangible assets

5,766


5,843


339,467


354,380





Operating income

46,588


59,422





Other income (expense)




Interest income and other

1,584


486

Interest expense

(13,208)


(14,319)


(11,624)


(13,833)





Income before income tax provision

34,964


45,589





Income tax provision

12,251


16,150





Net income 

$   22,713


$   29,439





Earnings  per common share - basic

$       0.56


$       0.73

Weighted average common shares outstanding - basic

40,387


40,182





Earnings per common share - diluted

$       0.55


$       0.70

Weighted average common shares outstanding - diluted

41,102


42,267





Other comprehensive income (loss), net of tax:




Foreign currency translation adjustments, including tax expense




   of $0 and $500 in 2012 and 2011, respectively

$   12,731


$ (15,873)

Other comprehensive income (loss), net of tax

12,731


(15,873)

Comprehensive income

$   35,444


$   13,566









 

FTI CONSULTING, INC.

OPERATING RESULTS BY BUSINESS SEGMENT












  Average  


Revenue-





Adjusted






 Billable 


Generating



Revenues


EBITDA (1)


Margin


Utilization


Rate


Headcount



  (in thousands)  









Three Months Ended September 30, 2012













Corporate Finance/Restructuring


$    110,217


$     25,029


22.7%


70%


$          391


751

Forensic and Litigation Consulting 


83,366


13,211


15.8%


62%


$          345


809

Economic Consulting


96,375


19,087


19.8%


79%


$          495


467

Technology  (2)


50,286


15,675


31.2%


N/M


N/M


283

Strategic Communications  (2)


45,811


6,778


14.8%


N/M


N/M


597



$    386,055


79,780


20.7%






2,907

   Corporate 




(17,499)









Adjusted EBITDA(1)




$     62,281


16.1%




















Nine Months Ended September 30, 2012













Corporate Finance/Restructuring


$    336,031


$     81,003


24.1%


73%


$          397


751

Forensic and Litigation Consulting 


260,504


42,916


16.5%


67%


$          333


809

Economic Consulting


295,882


56,002


18.9%


82%


$          493


467

Technology  (2)


147,643


41,739


28.3%


N/M


N/M


283

Strategic Communications  (2)


137,466


16,277


11.8%


N/M


N/M


597



$ 1,177,526


237,937


20.2%






2,907

   Corporate 




(55,080)









Adjusted EBITDA(1)




$   182,857


15.5%




















Three Months Ended September 30, 2011













Corporate Finance/Restructuring


$    110,311


$     27,495


24.9%


75%


$          406


711

Forensic and Litigation Consulting


99,064


19,113


19.3%


69%


$          331


872

Economic Consulting


95,662


18,650


19.5%


85%


$          487


424

Technology  (2)


56,972


19,619


34.4%


N/M


N/M


284

Strategic Communications  (2)


51,793


7,429


14.3%


N/M


N/M


590



$    413,802


92,306


22.3%






2,881

   Corporate 




(19,622)









Adjusted EBITDA(1)




$     72,684


17.6%




















Nine Months Ended September 30, 2011













Corporate Finance/Restructuring


$    319,461


$     59,173


18.5%


70%


$          422


711

Forensic and Litigation Consulting


275,345


53,016


19.3%


69%


$          331


872

Economic Consulting


264,401


50,635


19.2%


86%


$          486


424

Technology  (2)


165,137


58,362


35.3%


N/M


N/M


284

Strategic Communications  (2)


151,711


19,267


12.7%


N/M


N/M


590



$ 1,176,055


240,453


20.4%






2,881

   Corporate 




(49,696)









Adjusted EBITDA(1)




$   190,757


16.2%

































(1) We define Adjusted EBITDA as net income before income tax provision, other income (expense), depreciation, amortization of intangible assets and special charges.  Amounts presented in the Adjusted EBITDA column for each segment reflect the segments' respective Adjusted Segment EBITDA.  We define Adjusted Segment EBITDA as the segments' share of consolidated operating income before depreciation, amortization of intangible assets and special charges.  Although Adjusted EBITDA and Adjusted Segment EBITDA are not measures of financial condition or performance determined in accordance with generally accepted accounting principles ("GAAP"), we believe that these measures can be a useful operating performance measure for evaluating our results of operations as compared from period to period and as compared to our competitors.


Adjusted EBITDA and Adjusted Segment EBITDA are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. These non-GAAP measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income. See also our reconciliation of non-GAAP financial measures.


(2) The majority of the Technology and Strategic Communications segments' revenues are not generated based on billable hours. Accordingly, utilization and average billable rate metrics are not presented as they are not meaningful as a segment-wide metric.

 

FTI CONSULTING, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(unaudited)





Three Months Ended


Nine Months Ended





September 30,


September 30,





2012


2011


2012


2011












Net income




$ 22,713


$ 29,439


$ 48,891


$ 64,022

Add back: Special charges, net of tax effect (1)

1,794


-


19,115


9,285

Adjusted Net Income (2)



$ 24,507


$ 29,439


$ 68,006


$ 73,307












Earnings per common share - diluted

$     0.55


$     0.70


$     1.17


$     1.47

Add back: Special charges, net of tax effect (1)

0.05


-


0.45


0.21

Adjusted EPS (2)



$     0.60


$     0.70


$     1.62


$     1.68












Weighted average number of common shares outstanding - diluted

41,102


42,267


41,882


43,671


































(1)The tax effect takes into account the tax treatment and related tax rate(s) that apply to each adjustment in the applicable tax jurisdiction(s). As a result, the effective tax rates for the adjustments for both the three and nine months ended September 30, 2012 were 35.3% and 39% for the nine months ended September 30, 2011. The tax expense related to the adjustments for the three and nine months ended September 30, 2012 was $1.0 million or $0.02 impact on diluted earnings per share and $10.4 million or $0.25 impact on diluted earnings per share. The tax expense for the nine months ended September 30, 2011 was $5.9 million or $0.14 impact on diluted earnings per share.












(2)  We define Adjusted Net Income and Adjusted EPS as net income and earnings per diluted share, respectively, excluding the net impact of any special charges and any loss on early extinguishment of debt that were incurred in that period. 























 

RECONCILIATION OF NET INCOME AND OPERATING INCOME TO ADJUSTED EBITDA

(in thousands)


















Three Months Ended September 30, 2012

Corporate Finance / Restructuring


Forensic and Litigation Consulting


Economic Consulting


Technology 


Strategic Communi- cations


Corp HQ


Total


















Net income 













$             22,713



Interest income and other













(1,584)



Interest expense













13,208



Income tax provision













12,251


Operating income

$               21,655


$             11,431


$             17,810


$             10,445


$               4,874


$           (19,627)


$             46,588



Depreciation and amortization

805


889


702


3,098


544


1,114


7,152



Amortization of other intangible assets

1,749


472


402


1,984


1,159


-


5,766



Special charges

820


419


173


148


201


1,014


2,775


Adjusted EBITDA (1)

$               25,029


$             13,211


$             19,087


$             15,675


$               6,778


$           (17,499)


$             62,281


































Nine Months Ended September 30, 2012































Net income













$             48,891



Interest income and other













(4,503)



Interest expense













43,607



Income tax provision













26,372


Operating income 

$               61,885


$             30,963


$             51,681


$             23,403


$               6,161


$           (59,726)


114,367



Depreciation and amortization

2,528


2,812


2,131


9,262


1,913


3,514


22,160



Amortization of other intangible assets

4,654


1,469


1,199


5,960


3,491


-


16,773



Special charges

11,936


7,672


991


3,114


4,712


1,132


29,557


Adjusted EBITDA (1)

81,003


42,916


56,002


41,739


16,277


(55,080)


182,857


































Three Months Ended September 30, 2011































Net income 













$             29,439



Interest income and other













(486)



Interest expense













14,319



Income tax provision













16,150


Operating income 

$               25,141


$             17,581


$             17,469


$             14,662


$               5,495


$           (20,926)


59,422



Depreciation and amortization

848


867


680


2,981


739


1,304


7,419



Amortization of other intangible assets

1,506


665


501


1,976


1,195


-


5,843



Special charges

-


-


-


-


-


-


-


Adjusted EBITDA (1)

27,495


19,113


18,650


19,619


7,429


(19,622)


72,684


































Nine Months Ended September 30, 2011































Net income 













$             64,022



Interest income and other













(5,409)



Interest expense













44,129



Income tax provision













34,501


Operating income 

$               42,771


$             47,746


$             45,565


$             44,026


$             13,449


$           (56,314)


137,243



Depreciation and amortization

2,617


2,579


1,883


8,407


2,243


3,778


21,507



Amortization of other intangible assets

4,345


1,852


1,094


5,929


3,575


-


16,795



Special charges

9,440


839


2,093


-


-


2,840


15,212


Adjusted EBITDA (1)

59,173


53,016


50,635


58,362


19,267


(49,696)


190,757


















































 

(1) We define Adjusted EBITDA as net income before income tax provision, other income (expense), depreciation, amortization of intangible assets and special charges.  Amounts presented in the Adjusted EBITDA column for each segment reflect the segments' respective Adjusted Segment EBITDA.  We define Adjusted Segment EBITDA as the segments' share of consolidated operating income before depreciation, amortization of intangible assets and special charges.  Although Adjusted EBITDA and Adjusted Segment EBITDA are not measures of financial condition or performance determined in accordance with generally accepted accounting principles ("GAAP"), we believe that these measures can be a useful operating performance measure for evaluating our results of operations as compared from period to period and as compared to our competitors.  


Adjusted EBITDA and Adjusted Segment EBITDA are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies. These non-GAAP measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income.

 

FTI CONSULTING, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(in thousands)

(unaudited)






Nine Months Ended 


September 30,


2012


2011

Operating activities




Net income

$     48,891


$     64,022

Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization

26,475


21,508

Amortization of other intangible assets

16,948


16,795

Acquisition-related contingent consideration

(2,581)


2,538

Provision for doubtful accounts 

9,387


9,483

Non-cash share-based compensation 

24,465


29,043

Excess tax benefits from share-based compensation

(98)


(198)

Non-cash interest expense

4,505


6,322

Other

108


(559)

Changes in operating assets and liabilities, net of effects from acquisitions:




Accounts receivable, billed and unbilled

(62,466)


(130,132)

Notes receivable

(20,732)


(4,914)

Prepaid expenses and other assets

(3,701)


(3,670)

Accounts payable, accrued expenses and other

5,608


14,489

Income taxes 

(5,595)


1,061

Accrued compensation

(33,734)


21,098

Billings in excess of services provided

6,144


(38)

                           Net cash provided by operating activities

13,624


46,848





Investing activities




Payments for acquisition of businesses, net of cash received 

(26,453)


(62,346)

Purchases of property and equipment

(20,534)


(24,595)

Other

(1,105)


(127)

                          Net cash used in investing activities

(48,092)


(87,068)





Financing activities




Borrowings under revolving line of credit

75,000


25,000

Payments of revolving line of credit

-


(25,000)

Payments of long-term debt and capital lease obligations

(156,487)


(6,967)

Purchase and retirement of common stock

(20,013)


(209,400)

Net issuance of common stock under equity compensation plans

523


797

Excess tax benefit from share-based compensation 

98


198

Other

(2,080)


(1)

                          Net cash used in financing activities

(102,959)


(215,373)





Effect of exchange rate changes on cash and cash equivalents

(68)


(747)





Net decrease in cash and cash equivalents

(137,495)


(256,340)

Cash and cash equivalents, beginning of period

264,423


384,570

Cash and cash equivalents, end of period

$   126,928


$   128,230









 

FTI CONSULTING, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

AT SEPTEMBER 30, 2012 AND DECEMBER 31, 2011

(in thousands, except per share amounts)






September 30,


December 31,


2012


2011

Assets

(unaudited)



Current assets




   Cash and cash equivalents

$           126,928


$          264,423

   Restricted cash

1,192


10,213

   Accounts receivable:




       Billed receivables

363,486


335,758

       Unbilled receivables

215,456


173,440

       Allowance for doubtful accounts and unbilled services

(93,885)


(80,096)

          Accounts receivable, net

485,057


429,102

   Current portion of notes receivable

32,735


26,687

   Prepaid expenses and other current assets

35,327


30,448

   Income taxes receivable

11,562


10,081

Total current assets

692,801


770,954

Property and equipment, net of accumulated depreciation

66,933


74,448

Goodwill

1,327,041


1,309,358

Other intangible assets, net of amortization

104,068


118,889

Notes receivable, net of current portion

97,141


81,748

Other assets

61,964


55,687

Total assets

$        2,349,948


$       2,411,084





Liabilities and Stockholders' Equity




Current liabilities




    Accounts payable, accrued expenses and other

$             99,536


$          132,773

Accrued compensation

154,773


180,366

Current portion of long-term debt and capital lease obligations

81,021


153,381

    Billings in excess of services provided

25,519


19,063

    Deferred income taxes

6,215


12,254

Total current liabilities

367,064


497,837

Long-term debt and capital lease obligations, net of current portion

636,821


643,579

Deferred income taxes

99,373


88,071

Other liabilities

72,970


75,395

Total liabilities

1,176,228


1,304,882





Stockholders' equity




Preferred stock, $0.01 par value; shares authorized ―5,000; none outstanding

-


-

Common stock, $0.01 par value; shares authorized ―75,000; shares issued and
     outstanding ―41,355 (2012) and 41,484 (2011)

414


415

Additional paid-in capital

387,986


383,978

Retained earnings

827,092


778,201

Accumulated other comprehensive loss

(41,772)


(56,392)

Total stockholders' equity

1,173,720


1,106,202

Total liabilities and stockholders' equity

$        2,349,948


$       2,411,084









 

SOURCE FTI Consulting, Inc.



RELATED LINKS
http://www.fticonsulting.com

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