Hewitt Associates, Inc. (HEW) reported first quarter net income of $68.4 million or $0.71 per share, compared to $64.77 million or $0.68 per share last year.
Underlying net income was $68.4 million or $0.71 per share, compared to $64.63 million or $0.68 per share a year ago.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share. Analysts' estimates typically exclude special items.
Total revenues grew to $795.54 million from $793.97 million in the same quarter a year earlier.
Nine analysts estimated revenues of $763.04 million.
The company maintained full year 2010 underlying earnings per share guidance of $2.85 to $2.95, with operating income growth moderately exceeding EPS growth, an effective tax rate in the range of 37 to 38 percent, and continued execution against its share repurchase authorization. The company still sees low- to mid-single digit total company net revenue growth for fiscal 2010 on an underlying basis, with solid growth in Consulting, a flat performance in Benefits Outsourcing, and a decline in HR BPO.
Analysts expect the company to earn $2.93 per share, on revenues of $3.08 billion.
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