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Hill International Reports Second Quarter And First Half 2013 Financial Results; Return To Profitability Driven By Record Revenues And Record EBITDA

MARLTON, N.J., Aug. 5, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today its financial results for the second quarter and first half ended June 30, 2013 (see attached tables).

Total revenue for the second quarter of 2013 was a record $148.5 million, an increase of 24.3% from the second quarter of 2012. Consulting fee revenue for the second quarter was a record $128.4 million, an increase of 23.4% from the second quarter of last year.

EBITDA (as defined below) for the second quarter of 2013 was a record $11.9 million, up 122.4% from the second quarter of 2012. Operating profit for the second quarter was a record $9.8 million, an increase of 207.8% from the second quarter of last year. Net earnings in the second quarter of 2013 were $0.7 million or $0.02 per diluted share, an improvement from a net loss of ($0.3 million), or ($0.01) per diluted share, in the second quarter of 2012.

The company's total backlog at June 30, 2013 was $907 million, down from $921 million at March 31, 2013. Twelve-month backlog at June 30, 2013 was $382 million, up slightly from $381 million at March 31, 2013.

"We are very pleased that our strong revenue growth drove a return to profitability in the second quarter," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "While this past quarter saw the best operational results in the company's history, we believe the company will continue to strengthen in the second half of this year and heading into next year," added Richter.

First Half 2013 Results

Total revenue for the first half of 2013 was a record $284.5 million, an increase of 21.0% from the first half of 2012. Consulting fee revenue for the first half was a record $251.0 million, an increase of 23.5% from the first half of last year.

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