Tuesday, February 23, 2010

Huron's Shares Dive on Tepid 2010 Revenue Outlook

Huron Consulting Group Inc. just released its full year 2009 financial numbers, with full year 2009 revenues of $663.9 million (before reimbursable expenses), growing 7.9% from full year 2008 revenues of $573.8 million (before reimbursable expenses). For the Q4-2009 quarter, revenues of $162.9 million, decreased 0.7% from Q4-2008 revenues of $164.0 million. On a GAAP basis, full year 2009 net income was a loss of $(32.9) million compared to a net income of $10.1 million for full year 2008. On a per share basis, full year 2009 was a loss of $(1.63) compared to full year 2008 diluted earnings per share of $0.53. Dragging 2009 net income lower was a 2009 goodwill impairment charge of $67.0 million and restatement-related expenses of $17.5 million...

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