For a discussion of risks and other factors that may cause actual results or events to differ from those contemplated by forward-looking results, investors should review the Safe Harbor statement in the earnings press release issued yesterday evening, a copy of which is available on our website at www.fticonsulting.com, as well as other disclosures under the heading of Risk Factors and Forward-Looking Information in our most recent Form 10-K and in our other 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 may discuss certain non-GAAP financial measures, such as adjusted EBITDA, adjusted-segment EBITDA, adjusted net income and adjusted earnings per share. For a discussion of these non-GAAP financial measures, as well as our reconciliation of these non-GAAP financial measures to the most closely comparable GAAP measures, investors should review the press release and the accompanying financial tables we issued yesterday evening. 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 B. Dunn Thank you, Molly. Welcome and thank you to everyone for joining us today. With me on the call are Dennis Shaughnessy, our Chairman; Roger Carlile, our Chief Financial Officer; and David Bannister, our Chairman of North America. First, we'd like to give you a brief overview of the quarter. Next, share some of the elements behind the reasoning for our guidance and then most importantly, get to you your questions. In the second quarter, we saw a continued strong demand in our Economic Consulting and Corporate Finance/Restructuring segments. In economics, this was based on antitrust and a surprisingly strong M&A-related activity and on financial economics, especially matters related to fallout from the financial crisis for mortgage-backed securities, auction-rate securities and derivatives litigation to more recently, municipal bid-rigging, now the LIBOR and Euribor matters.
In Corporate Finance/Restructuring, we saw a continuing demand for bankruptcy and restructuring matters, especially in North America. It's an interesting market on the creditor side. Credit markets continued to fund or refund some transactions that would ordinarily be candidates for us. While on the debtor side, we saw increasing -- increasingly companies moving to preemptively structure and restructure in anticipation possibly of even tougher credit and economic environments ahead.For the quarter, revenues were $396.2 million. The impact of foreign currency translation reduced our consolidated revenues by approximately 1% or about $4.5 million. Adjusted EBITDA was $66.6 million or 16.8% of revenues. Fully diluted earnings per share for the quarter were $0.18, including the previously announced special charge of $26.8 million, which reduced fully diluted earnings per share by $0.42. For the quarter, adjusted earnings per share were $0.60. Both fully diluted earnings per share and adjusted earnings per share included a $4.1 million revaluation gain, which increased fully diluted earnings per share and adjusted earnings per share by $0.10. Roger will discuss these results in more detail in a moment. As previously announced, we took actions during the quarter to further address our markets and reduce our cost footprint. These actions were expected to result in $14.9 million of savings over the remainder of 2012, which will improve our profitability as we look ahead to a difficult global economic environment and the election cycle in the United States. At the same time, we continued to make important investments in our business, including the launch of our Technology segment in Asia-Pacific region and the expansion of both our healthcare and our energy industry practices. As we look forward for the remainder of the year in 2013, there are a couple of trends on which we are particularly focused. First, as I mentioned above is the litigation and related activities stemming from the financial crisis, the latest manifestation being the LIBOR probe. We already have multiple engagements there and like the others that relate to the crisis, derivatives, bid-rigging, securities cases, these matters are complex. And we are now reaching the discovery phase. This should be a positive sign for us going forward. Read the rest of this transcript for free on seekingalpha.com