Huron Consulting Group announced it first quarter financial results—revenues increased to $138.6 million compared to $136.6 million for the same quarter in 2011.
The Company’s first quarter 2012 operating income was $3.6 million, compared to $10.8 million in the first quarter of 2011. Results for the first quarter 2012 include an accrual for its annual incentive payment reflecting the Company’s guidance range.
“Our first quarter 2012 revenues and earnings were lower than we expected, primarily due to the timing of contingent revenues in our healthcare practice. The market for our services is very strong, and we anticipate that subsequent quarters will better reflect the level of activity that exists within our largest practices. We remain confident in our ability to achieve our full year 2012 outlook,” says James Roth, CEO and president, Huron Consulting Group.
“We continue to be pleased with our ability to attract new talent to our organization—a critical ingredient of our growth strategy. Our expanding team of professionals has helped us establish a solid base from which to achieve our expected results for this year.”
As part of the earnings report, Huron affirmed expectations for full year 2012 revenue in a range of $620 million to $660 million.