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Huron Consulting Group Q1 Profit Falls - Quick Facts

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Huron Consulting Group (HURN: Quote) reported first-quarter net income of $0.9 million or $0.04 per share, falling from $4.1 million or $0.19 per share last year.

Net income from continuing operations was $0.6 million or $0.03 per share, compared to $3.5 million or $0.16 per share in the prior year quarter.

Excluding items, adjusted earnings from continuing operations was $3.0 million or $0.13 per share, compared to $6.2 million or $0.29 per share a year ago.

On average, 7 analysts polled by Thomson Reuters expected earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $152.4 million from $148.5 million a year ago.

Looking ahead, the company affirmed its guidance for the full year 2012 wherein it expects earnings per share in the range of $1.80 to $2.05 and non-GAAP earnings in the range of $2.25 to $2.50 per share.

The company also affirmed its expectation of revenue before reimbursable expenses to be in the range of $620.0 million to $660.0 million.

Analysts currently expect earnings of $2.18 per share and revenues of $655.44 million for the full year 2012 .

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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With disappointing earnings news generating some selling pressure, stocks have moved mostly lower in early trading on Friday. The major averages have slid firmly into negative territory after ending the previous session nearly flat. After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June. British economic growth remained high as expected in the second quarter as a robust expansion in the dominant service sector, and industry completely offset the slight weakness in the construction sector. With the second quarter expansion, GDP returned to its pre-crisis level. Gross domestic product grew 0.8 percent sequentially in the second quarter, the same rate as seen in the first quarter.
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