FTI Consulting reported first quarter strategic communications revenues ticked up one percent to $45.5M as higher project revenue offset fewer M&A deals in Asia and a dip in Latin America.

Overall revenues at FTI were up 3 percent for the quarter to $407.2M while net income jumped 28% to $23.7M, mostly on the strength of its economic consulting division.

Margin for strategic communications dropped from 10.1% in Q1 of 2012 to 7.8% in 2013 due to its March acquisition of D.C. lobbying shop C2 Group, as well as lower margins in Asia and Latin America and lower pass-through revenue.

PR assignments during the quarter included chapter 11 work for Atari and Arcapita Bank BSC, as well as takeover defense PR for Irish drug maker Elan Corp.

Higher communications project income in North America and the EMEA region coupled with higher pass-through revenue in NA during Q1, offsetting the M&A decline in Asia and reduced project income in Latin America.

CEO Jack Dunn said FTI has "some interesting assignments" in strategic communications on a few notable M&A transactions, some of which haven't been announced publicly yet.

FTI had 619 revenue-generating staffers in strategic communications in Q1.

Economic consulting revenue jumped 15.1% to $115.2M on strong demand and higher average billing rates. Corporate finance/restructuring rose 2.3% to $99.1M. Posting declines were technology consulting (-6% to $46.7M) and forensic/litigation consulting (-2.8%, $100.7M).