Navigant Consulting Inc's (NCI) net Income for first quarter 2013 was $13.8 million, compared to $11.6 million in the prior year first quarter, an increase of 18.5%.
Earnings per share were $0.27 for first quarter 2013, compared to $0.22 for the same quarter last year, an increase of 23%.
Adjusted earnings per share were $0.27 for the quarter, compared to $0.23 for first quarter last year, an increase of 17%.
GAAP earnings per share and Adjusted earnings per share were the same for first quarter 2013 because the $0.02 per share effect of the gain from the sale of a portion of the Economics practice was fully offset by the costs of office consolidation and severance.
Navigant reported first quarter 2013 revenues before reimbursements (RBR) of $187.3 million, as double-digit segment RBR growth from Healthcare, Energy and Financial, Risk & Compliance Advisory, offset a decrease from the Disputes, Investigations & Economics segment.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share on revenues of $210.68 million. Analysts' estimates typically exclude special items.
Navigant reaffirmed its 2013 outlook. Full year 2013 revenues before reimbursements is expected to range between $740 and $800 million while total 2013 revenues are estimated to be between $820 and $880 million. Adjusted EBITDA is anticipated to range between $115 and $125 million, and Adjusted EPS is estimated to be between $0.95 and $1.10. Analysts expect the company to report revenues of $862.53 million for fiscal 2013.
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