Ahead Of The Bell: Huron Consulting Upgraded

NEW YORK (AP) — Shares of Huron Consulting Group Inc. moved higher Thursday after an R.W. Baird analyst upgraded the business consultancy to "Neutral" after it reported earnings and said it had completed restating financial results dating back to fiscal 2006.

Monday, Huron said it earned $9.6 million, or 47 cents per share, for the period ended June 30. That compared with $1.1 million, or 6 cents per share, a year earlier. Excluding a gain, Huron earned 84 cents per share. Analysts had expected 45 cents per share.

Revenue rose almost 16 percent to $165.8 million.

The results seemed to reassure investors on Thursday morning. They had driven down Huron's shares 69 percent on Aug. 3, the first trading day after the company announced it would restate financial results for fiscal years 2006, 2007, 2008 and the first quarter of 2009. The restatement followed the discovery of suspect payments in relation to four companies it bought between 2005 and 2007. It released the restatement on Monday.

Huron, which brought in new management, has said it is cooperating with an Securities and Exchange Commission investigation into accounting issues related to past acquisitions.