| | Management consulting
services provider
Navigant Consulting
reported a 13% rise in
second-quarter profit,
but lower-than-expected
revenue and expenses
associated with an
acquisition caused the
company to miss analyst
earnings forecasts by a
penny.
Net income rose to
$14m, or 26 cents per
share, from $12.4m, or | |
|
| | 24 cents per share, in
the same period a year
ago. On average,
analysts were looking
earnings of 27 cents per
share.
Revenue increased 18%
to $165m from $139.5m,
missing forecasts of
$167.4m.
"Our solid second
quarter results
completed a strong first
half of 2006, which
included excellent | |
|
| | performance from our
financial, insurance and
international sectors,
as well as our forensic
accounting and
investigation services,"
said William M.
Goodyear, chairman and
CEO. “Overall, we are
well positioned to
sustain our current
growth throughout 2006
and achieve our
previously-stated
revenue and earnings | |
|
| | goals for the year," he
added.
Higher amortization,
depreciation and
interest expenses
stemming from Navigant's
late March purchase of
London-based Precept
Programme Management
Ltd. for about $50m
impacted the results,
Navigant said.
The deal was
beneficial to Navigant's
United Kingdom and | |
|
| | international
operations, despite the
short-term impact to
non-operating expenses,
the company said. The
total share number used
to compute
earnings-per-share
figures increased by
about 1.1m shares from
the first quarter as a
result of the deal, the
company said.
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