NCI is buying back stock as a result of yesterday's steep sell off.
Navigant Consulting Issues Statement Regarding Yesterday's Market Activity
Company Press Release
SOURCE: Navigant Consulting, Inc.
biz.yahoo.com
CHICAGO, Nov. 5 /PRNewswire/ -- Navigant Consulting, Inc. (NYSE: NCI - news), a global management consulting company serving energy-based and other regulated industries, is issuing a statement regarding the unusual activity occurring yesterday in the Company's stock.
The Company is unaware of any undisclosed corporate activities or developments that would have caused the recent unusual market activity in its stock. Indeed, with record third quarter revenues of $111 million and earnings per share of $.39, the Company remains comfortable with analysts' expectations for the future.
On the contrary, what seems to have adversely affected the stock yesterday, in the Company's opinion, is an analysts' downgrading of the stock based upon a few issues raised in yesterday's conference call with analysts. The Company strongly disagrees with his conclusions, none of which, even if correct, impact the Company's business or future prospects.
Based upon yesterday's market activity and its confidence in the future, the Company yesterday purchased a substantial amount of its stock in open market transactions. Further, it will continue to monitor its stock trading and valuation in the future.
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.
For more information on Navigant Consulting, Inc., simply dial 1-800-PRO-INFO and enter the company ticker: NCI.
SOURCE: Navigant Consulting, Inc.
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