Huron Consulting Group announced revenues of $163 million for the first quarter ended March 31, 2009—a 17 percent increase from first quarter 2008.
"As we anticipated last quarter, the first three months of 2009 have been positive for our Health and Education Consulting segment, which represented 57 percent of Huron's revenues in the quarter," says Gary Holdren, chairman and CEO of Huron. "This segment continued its substantial growth given the ongoing financial and operational pressures hospitals, healthcare organizations and universities are facing."
The average number of full-time billable consultants increased 25 percent to 1,551 in the first quarter of 2009 compared to 1,237 in the same quarter last year. Full-time billable consultant utilization rate was 69.7 percent during the first quarter compared with 65 percent the same period last year. Meanwhile, average billing rate per hour for full-time consultants was $259 in 2009, down from $276 for the first quarter of 2008.
Meanwhile, Huron said it anticipates full year 2009 revenues before reimbursable expenses to be between $730 million to $770 million.
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