For a discussion of risks and other factors that may cause actual results or events to differ from these contemplated by forward-looking statements, investors should review the Safe Harbor statement in which earnings press release issued this morning. A copy is available on our website at www.fticonsulting.com, as well as disclosures under the heading Risk Factors and Forward-Looking Information on our most recent Form 10-K and in our filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this earnings call.During the call, we will discuss certain non-GAAP financial measures, such as adjusted EBITDA, adjusted segment EBITDA and adjusted earnings per share. For a discussion of these non-GAAP financial measures, as well as a reconciliation of these non-GAAP financial measures to the most recently comparable GAAP measures, investors should review the press release we issued this morning. With these formalities out of the way, I would like to turn the call over to Jack Dunn, President and Chief Executive Officer. Jack, please go ahead. Jack Dunn Thank you very much, Mollie. Good morning to everyone and thank you for joining us. With me are Dennis Shaughnessy, our Chairman; Roger Carlile, our CFO; and David Bannister, the Chairman of our North American region. In response to our discussions with the over the last couple of weeks in a survey we did, we are going to keep our prepared remarks to a minimum this morning. There are a couple of things that I'd like to give you as potential takeaways from the quarter, but we want to leave as much time as possible for your request for questions and drilling down on the issues that are really jugular to you. I would ask you to remember that the goal of FTI was to be the #1 firm that people turn to worldwide for solutions to the jugular issues that affect their wealth, their reputation and indeed their very lives. Our strategy, or if you will, our value proposition was to attract, hire, acquire, and most importantly, retain the best talent in the world to help clients identify those jugular issues, devise value-added solutions and then deliver them locally through the last model of execution in a timely effective, thorough, seamless and cost-efficient manner. I think that this was a significant quarter in validating that strategy and in achieving that goal. And I would like to give you a couple of things to think about in terms of the quarter.
The first was that this was an excellent quarter. The company grew 15% as a whole. Second, our pro cyclical businesses as a whole are more than gaining traction. They are strong, with 3 of them having excellent results. Third, our activities outside North America are also very strong. Four, with the steps we've taken in the quarter, we believe we are at or near the bottom of the market for our Corporate Finance/Restructuring activities. Five, our financial position is strong. And six, we are reaffirming our guidance.With regard to the quarter, revenues rose 15% to a record $400.4 million, the highest quarterly revenue in the history of the company and our second consecutive quarterly record. Adjusted earnings per share for the quarter excluding the special charge were $0.64, up 23% over adjusted EPS in the second quarter last year, when there were no special charges. Adjusted EBITDA was 16.6% of revenues, which included the ramp-up expenses of our newly acquired LECG professionals as they began to get traction. With regard to our pro cyclical businesses, as a whole, they grew 25%. And the organic growth for these businesses was a robust 16%. The delta represented growth from the LECG transactions, which are more than on plan. Highlights in the pro cyclical businesses were 46% revenue growth in Economic Consulting, of which 18.5% was organic; and 33% revenue growth in Technology, all of which was organic; Forensic and Litigation Consulting grew revenues at 15%, 9.5% of which was organic; and Strategic Communications grew revenues at about 7.5%, though much of this was due to foreign exchange. Read the rest of this transcript for free on seekingalpha.com