CHICAGO, June 21, 2019 – Huron Consulting Group Inc. (HURN) recently stated first-quarter net income of $3.30M, after reporting a loss in the same period a year earlier.
FIRST QUARTER 2019 RESULTS FROM CONTINUING OPERATIONS
Revenues increased $10.80M, or 5.6%, to $204.40M for the first quarter of 2019, contrast to $193.70M for the first quarter of 2018.
Net income from continuing operations was $3.40M for the first quarter of 2019, contrast to net loss from continuing operations of $3.20M for the same prior year period. Diluted earnings per share from continuing operations was $0.15 for the first quarter of 2019, contrast to diluted loss per share from continuing operations of $0.15 for the first quarter of 2018.
First quarter 2019 earnings before interest, taxes, depreciation and amortization (“EBITDA”) increased $5.10M, or 41.5%, to $17.30M from $12.20M in the same prior year period.
Adjusted EBITDA increased $4.30M, or 31.5%, to $18.00M, or 8.8% of revenues, in the first quarter of 2019, from $13.70M, or 7.1% of revenues, in the same quarter last year. Adjusted net income from continuing operations increased $4.60M to $8.90M, or $0.40 per diluted share, for the first quarter of 2019, from $4.20M, or $0.19 per diluted share, for the same period in 2018.
OUTLOOK FOR 2019:
Based on presently available information, the company is affirming guidance for full year 2019 revenues before reimbursable expenses in a range of $800.00M to $840.00M. The company also anticipates adjusted EBITDA as a percentage of revenues in a range of 12.0% to 12.5% and non-GAAP adjusted diluted earnings per share to increase 8% to 20% over 2018.