FTI Consulting's strategic communications operation posted an 8.4% increase in second quarter revenue over 2012 to $50.6M, but the company overall lowered guidance for the year amid reduced demand for bankruptcy and restructuring work.

FTI got a $1.5M bump from its acquisition of D.C.-based C2 Group in March, but noted improved project income in North America and the EMEA region and increase revenues from North American engagements boosted its Q2 performance on the PR front.

FTI worked PR for 33 deals worth $18.3B through the second quarter of 2013, according to mergermarket. That includes Orchard Supply's $205M acquisition by Lowe's Cos. and Elan Corp.'s initial takeover defense and later $8.6B sale to Perrigo.

Among all of its units, FTI saw a 4.6% increase in Q2 revenues to $414.6M but the West Palm Beach-based business consulting company lowered guidance for the year. "Record levels of new speculative grade and structured finance offerings and the continuation of the Fed's policy of quantitative easing have resulted in lower than expected default rates and demand for bankruptcy and restructuring services," said CEO Jack Dunn.

Net income was $23.5M, up sharply from $7.7M in Q2 of 2012 when the company took a special charge.

FTI's communications division counts 611 staffers, up slightly from 599 in Q2 of 2012.