Finally, in the quarter, we incurred approximately 65 basis points of expenses and investments that not only do we believe will not recur but should actually enhance performance in many cases during the rest of the year. As I said, in a moment, I'll turn it over to Roger to drill down further on these items.
On the revenue side, the analysis is very compelling and reflects an interesting picture of the world. From a geographical perspective, the results appear well-correlated to headlines from today's papers. Activities in Latin America, by all accounts, a cauldron of investment industry and intrigue, grew by 100% year-over-year. All of our services are represented there, and all had good quarters reflective of the nature of the economic activity in this vibrant part of the world. Asia Pacific slipped from the housing and growth rates it enjoyed most of last year, again, reflective of its economy and perhaps a growing concern about China. EMEA, which for us is Europe, the Middle East and Africa was particularly strong with growth of 42%. While perhaps in Congress, with the headlines of double-dip recession, credit crisis and political upheaval, on further analysis, our restructuring, tax, arbitration and economic practices all have excellent presence there. So these results, I believe, appear to represent the strength of our company in the phase of the economy that Europe is going through and perhaps a precursor of what will happen in other parts of the world as the credit crisis worsens.
From a practice perspective, again, there are diverse results reflecting the diverse nature of the services we provide. The excellent quarter in corporate finance restructuring and the somewhat sluggish performances in Technology, Strategic Communications and Forensic/Litigation Consulting seemed to follow somewhat intuitively from a world in which credit is tight, discretionary spending a suspect, capital market transactions are rare and the governmental enforcement malaise that accompanies every U.S. presidential election appears to possibly beginning to set in.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV