Huron Consulting Group Inc. announced it's third quarter revenues increased 9.2 percent to $158.9 million compared to $145.4 million for the same period last year.
Revenues for the first nine months of 2011 rose 12.7 percent to $460.9 million compared to $408.8 million for the first nine months of 2010. The Company's operating income for the first nine months of 2011 was $36.7 million, compared to $41.6 million in the first nine months of 2010.
The average number of full-time billable consultants rose 14.3 percent to 1,200 for the quarter compared to 1,050 to last year.
As part of the earnings call, Huron announced that it entered into a definitive agreement on Nov. 1 to sell its Accounting Advisory practice, which was expected to generate about $25 million in revenue in 2011. The transaction is subject to certain customary closing conditions and is expected to close by the end of 2011, says James Roth, CEO and president of Huron Consulting Group.
Huron also increased its revenue guidance to a range of $590 million to $600 million for the year. In 2010, Huron's revenues were $553 million in 2010.
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