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On March 2, 2009,

FTI Consulting

(FCN) - Get Report

reported that its Q4 FY08 earnings grew 1.3% on higher revenue. Net income rose to $31.19 million from $30.79 million in Q4 FY07. However, EPS fell to $0.58 from $0.60 due to a higher share count. The quarterly earnings beat the consensus estimate of $0.54 per share.

Revenue increased 15.1% to $322.88 million from $280.52 million, driven by strong performance across segments. Revenue from the corporate finance/restructuring segment grew 45.7% to $107.28 million, driven by growing demand for restructuring services amid global economic crisis. Revenue from the economic consulting segment rose 19.5% to $53.29 million, on higher demand for antitrust litigation consulting. Technology revenue increased 9.7% to $52.16 million, driven by a gain of $8.20 million from acquired businesses. Finally, forensic and litigation consulting revenue grew 6.9% to $58.57 million, while revenue from strategic communications slipped 14.0% to $51.57 million.

Recently, FTI Consulting acquired effectively all of the assets of CXO, L.L.C., an interim and turnaround management services firm. The company also announced the acquisition of the Element Agency, a Canadian strategic communications consultancy specializing in sustainability, issue advocacy, and corporate social responsibility initiatives. Additionally, the company authorized a stock repurchase program for up to $5.00 million worth of shares by February 25, 2010.

For FY08, net income rose 36.2% to $125.44 million, or $2.34 per share, from $92.12 million, or $2.00 per share, in FY07. Annual revenue surged 29.2% to $1.29 billion from $1.00 billion.

Looking ahead to FY09, FTI Consulting expects its EPS to be in the range of $2.55 to $2.70 per share on revenue between $1.45 and $1.55 billion.