FTI Consulting reported strategic communications revenue rose 2.2% to $50.3M in the fourth quarter as shareholder activism and the beginnings of capital markets activity sparked growth.

FTI's overall revenues also inched up 2.2%, to $399.3M for the quarter, although the company swung to a net loss of $85.9M, compared with net income of $39.9M a year earlier, as FTI took a goodwill impairment charge of $110.4M related to the book value of the stragegic communications unit. The company said the charge related to prior investments made in the PR segment and FTI reiterated its commitment to the segment.

For the year, revenues increase 1% to nearly $1.6B.

President and CEO Jack Dunn noted three of FTI's core businesses -- strategic communications, corporate finance/restructuring, and economic consulting -- showed sold performance and strong cash flow. He said FTI will continue a $250M stock repurchase program kicked off in June 2012 and pursue "tuck-in acquisitions where we can enhance our industry expertise, service capability or geographic scale," although organic growth is a key focus for the year.

Dunn said strategic communications landed "significant" retainer wins in the energy sector and chalked up double-digit year-over-year increases in France, Germany, Belgium, Russia and the United Arab Emirates.

Fourth quarter PR work for FTI included American Suzuki Motor Corp.'s Chapter 11 restructuring, Manganese Bronze Holdings' financial woes, and Dublin-based Smurfit Kappa Group's $340M acquisition of U.S.-based Orange County Container Group.

Dunn noted FTI's roster of potential merger and acquisition matters is approaching the highest levels in its history, a possible harbinger of a revitalized M&A market. He also sees opportunities for underdeveloped Brazil as the country prepares for the Olympics in 2016 and World Cup in 2014.

By segment, corporate finance/restructuring rose 13.7% to $123.2M, economic consulting increase 6.9% to $95.7M, forensic and litigation consulting dipped 8.2% to $82.6M and technology fell 11.3% to $47.6M.