Altough NCI issues a 3rd qtr earnings reports showing solid growth, the stock is hammered down 8 points.
Navigant Consulting Reports Record Revenue And Earnings for the Third Quarter 1999
Company Press Release
SOURCE: Navigant Consulting, Inc
biz.yahoo.com
Third Quarter 1999 Highlights: -- Record quarterly revenue of $ 111 million yields EPS of $0.39 -- Named Consultant's News' fastest growing management consulting firm in the U.S. -- Ranked number 19 on Consultant's News' "World's Largest Strategy Consulting Practices" -- Listed number 3 on Forbes "200 Best Small Companies in America 1999"
CHICAGO, Nov. 3 /PRNewswire/ -- Navigant Consulting, Inc. (NYSE: NCI - news), a global management consulting company serving energy-based and other regulated industries, today announced record revenues and net income for the third quarter of 1999.
Revenues for the third quarter were $111 million, while net income increased to $17.5 million, or $0.39 per share, exceeding analysts' consensus estimates for the thirteenth consecutive quarter. These results equate to a 7.1 percent revenue growth rate compared to the second quarter 1999.
``We have continued to see strong demand in our business sectors, as well as tremendous cross-selling opportunities between our four practice areas,' said Robert P. Maher, Navigant Consulting's chairman, chief executive officer and president. ``The growth we have seen from our internal hiring practice, along with strategic acquisitions and the cross-selling and synergies of our services have enabled Navigant Consulting to expand our capabilities and enhance our value-added services to our clients. Our service offerings have far-reaching value into many layers of our existing clients,' continued Maher.
``The addition of PENTA Advisory Services, LLC into our Economics and Policy practice area will strengthen the existing experts and Ph.D.s in providing expertise in financial and economic consulting, with stronger capabilities in valuation services, intellectual property and bankruptcy analysis,' Mr. Maher continued. ``Our practice areas are adding depth and breadth to our offerings into our existing client base, while continuing to broaden that base as well. This is a very exciting time for Navigant Consulting, and we look forward to completing 1999 and looking for new opportunities in 2000 and beyond.'
``I'm sure most of you saw the Forbes listing of the 200 Best Small Companies in America 1999. We were extremely pleased to have been recognized #3 on this list. Our consultants and entire organization are working very hard under the single brand name of Navigant Consulting.'
Navigant Consulting, Inc. is a global management consulting firm that provides strategic, financial, management, and expert services to energy-based, network and other regulated industries.
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as, ``forward looking statements' for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including ``anticipate,' ``believe,' ``intends,' ``estimates,' ``expect' and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, income and margins, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements, due to several important factors including those identified from time to time in the Company's reports filed with the SEC. Such risk factors include, but are not limited to: acquisitions and acquisitions under consideration, follow-on offerings, revenue and financial estimates, significant client assignments, recruiting and new business solicitation efforts, regulatory changes, and general economic conditions.
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