Financial results by segment are included in the attached schedules and in Huron's forthcoming Form 10-K filing for the year ended December 31, 2012 (“2012 Form 10-K”).
2013 Operating Segments
In the first quarter of 2013, the Company reorganized its internal financial reporting structure. Under the new structure, the Company will begin reporting information as five operating segments: Huron Healthcare; Huron Education and Life Sciences; Huron Legal; Huron Financial; and an all other category.
Beginning in 2013, the current Health and Education Consulting segment will become two separate segments: Huron Healthcare and Huron Education and Life Sciences. These practices continue to share a significant number of academic medical center clients and will continue to closely collaborate in the market. The Legal Consulting segment will now be referred to as Huron Legal and the Financial Consulting segment will now be referred to as Huron Financial. The structure of the Legal Consulting and Financial Consulting segments remains unchanged. In addition, certain immaterial practices, which were historically part of our Health and Education Consulting segment, will be combined and disclosed in an all other category. While consolidated results will not be impacted, the Company will recast historical segment information during 2013 for consistent presentation.Outlook for 2013 Based on currently available information, the Company provided guidance for full year 2013 revenues before reimbursable expenses in a range of $655.0 million to $685.0 million. The Company also anticipates EBITDA (7) in a range of $118.5 million to $127.0 million, Adjusted EBITDA (7) in a range of $120.5 million to $129.0 million, GAAP diluted earnings per share in a range of $2.25 to $2.45, and non-GAAP adjusted diluted earnings per share (7) in a range of $2.45 to $2.65. Management will provide a more detailed discussion of its outlook during the Company’s earnings conference call webcast.