Navigant Consulting Q1 Profit Falls

(RTTNews) - Navigant Consulting Inc. (NCI) Tuesday announced a sharp decline in first quarter net income to $12.64 million from $25.143 million in the prior year. Earnings per share halved to $0.26 from $0.51 last year. The prior year result included $0.31 per share from an earn out adjustment related to Cymetrix acquisition. On an adjusted basis, earnings were $0.27 per share.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.22 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $245.29 million from $223.17 million in the previous year. Analysts were looking for $223.97 million. Revenues before reimbursements increased 11 percent to the comparable prior year period.

Further, the company affirmed its financial outlook for 2016 and estimates adjusted earnings per share towards higher end of the range of $1.05 to $1.15. Full year revenue before reimbursements is expected to be between $900 to $940 million and total revenue is expected to be between $960 million and $1.01 billion. Wall Street expects $1.10 per share on revenue of $929.98 million.