This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Navigant Reports Third Quarter 2013 Results

Navigant (NYSE:NCI) today announced financial results for the third quarter ended September 30, 2013. Unless otherwise indicated, all references are to results from continuing operations which exclude the results from the previously announced July 2013 sale of the United Kingdom portion of Navigant’s financial services advisory business which are presented as discontinued operations. Amounts previously reported have been reclassified to conform to the current presentation.

Navigant reported third quarter 2013 revenues before reimbursements (RBR) of $186.4 million, compared to $176.4 million for third quarter 2012, a 6% increase. The growth in third quarter RBR was driven by a 31% increase in the Healthcare segment and 17% growth in the Financial, Risk & Compliance segment that was partially offset by lower RBR in the Disputes, Investigations & Economics segment. RBR performance in the Energy segment was relatively unchanged from the prior year quarter. Total revenues for the Company were $211.6 million for third quarter 2013, compared to $202.1 million for third quarter 2012, an increase of 5%.

Adjusted EBITDA of $30.8 million for third quarter 2013 rose 19% compared to $26.0 million for third quarter 2012, with an Adjusted EBITDA margin (Adjusted EBITDA as a percentage of RBR) of 17% for third quarter 2013, compared to 15% for the same period in 2012. A 9% increase in segment operating profit and a 100 basis point improvement in general and administrative expenses as a percentage of RBR contributed to the year-over-year growth in margin for the quarter.

Net income from continuing operations for third quarter 2013 was $13.5 million, compared to $11.2 million in the prior year quarter, an increase of 21%. The effective income tax rate was 47% for third quarter 2013 compared to 41% for third quarter 2012, due to a change in the mix of pre-tax income from lower tax rate jurisdictions to higher rate U.S. jurisdictions as well as increased valuation allowances related to losses generated in foreign jurisdictions for which Navigant does not anticipate realizing a benefit in future periods.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,475.75 -167.26 -1.00%
S&P 500 1,969.02 -19.85 -1.00%
NASDAQ 4,788.4260 -39.8990 -0.83%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs