FTI Consulting Swings To Q3 Profit, Boosts 2014 Outlook - Quick Facts

(RTTNews) - FTI Consulting, Inc. (FCN) reported third quarter net income of $22.52 million or $0.55 per share, compared to a net loss of $50.62 million or $1.29 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $25.68 million or $0.63 per share, compared to a net loss of $29.17 million or $0.72 per share in the year-ago quarter.

Revenues for the quarter increased 8.8 percent to $451.18 million from $414.64 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share on revenues of $434.77 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2014, the company raised adjusted earnings guidance to a range of $1.85 to $2.00 per share from the prior forecast of $1.55 to $1.70 per share. The company now projects revenues between $1.755 billion and $1.770 billion, up from the previous outlook between $1.73 billion and $1.77 billion.

Street is currently looking for full-year 2014 earnings of $1.71 per share on annual revenues of $1.75 billion.