Business advisory firm FTI Consulting, Inc. (FCN) reported Thursday that net income for the first quarter decreased to $61.82 million or $1.74 per share from $79.97 million or $2.23 per share in the year-ago quarter. Excluding items, adjusted earnings for the latest quarter was $2.29 per share.
Revenues for the quarter declined 3 percent to $898.28 million from $928.55 million in the same quarter last year.
On average, three analysts polled expect the company to report earnings of $1.79 per share on revenues of $906.68 million for the quarter. Analysts' estimates typically exclude special items.
On Monday, the company's Board of Directors authorized an additional $400.0 million to repurchase shares of FTI Consulting's outstanding common stock pursuant to its stock repurchase program.
FTI Consulting has approximately $568.3 million remaining available for common stock repurchases under the program.
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