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Hill International Reports Third Quarter And First Nine Months 2013 Financial Results; Strong Consulting Fee Growth Of 26% Drives Net Earnings Up 96% In The Third Quarter

Stocks in this article: HIL

MARLTON, N.J., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today its financial results for the third quarter and first nine months ended September 30, 2013 (see attached tables).

Total revenue for the third quarter of 2013 was $147.2 million, an increase of 22.8% from the third quarter of 2012. Consulting fee revenue for the third quarter was a record $130.2 million, an increase of 25.7% from the third quarter of last year.

EBITDA (as defined below) for the third quarter of 2013 was $10.6 million, up 34.5% from the third quarter of 2012. Operating profit for the third quarter was $8.3 million, an increase of 62.1% from the third quarter of last year. Net earnings in the third quarter of 2013 were $2.6 million or $0.06 per diluted share, an increase of 96% from net earnings of $1.3 million, or $0.03 per diluted share, in the third quarter of 2012.

The company's total backlog at September 30, 2013 was a record $951 million, up from $907 million at June 30, 2013. Twelve-month backlog at September 30, 2013 was $382 million, unchanged from June 30, 2013.

"We are very pleased that our strong financial performance has continued for three consecutive quarters," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "This consistent performance, together with record total backlog and our first payments from Libya, bode well for a solid finish to 2013 and an even better 2014," added Richter.

First Nine Months 2013 Results

Total revenue for the first nine months of 2013 was a record $431.7 million, an increase of 21.6% from the first nine months of 2012. Consulting fee revenue for the first nine months was a record $381.2 million, an increase of 24.2% from the first nine months of last year.

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