FTI Consulting's strategic communications revenue fell 6.8% in the fourth quarter of 2013 to $46.9M on weaker business in the EMEA and North America regions.
Across its business units, the West Palm Beach-based consulting group said Q4 revenues climbed 4.2% to $416M, while net loss narrowed to $10.6M from nearly $36M a year earlier.
The quarter was buoyed by economic consulting (+12.9% to $108.1M), forensic and litigation consulting (+18% to $114.7M) and technology (+12.6% to $53.6M) operations.
Corporate finance and restructuring fell 14.5% to $92.8M.
FTI said it ended the quarter with 590 revenue-generating staffers in its communications operation. For the year, that unit declined .8% to $186.2M. The company said reduced pass-through revenues and project revenues in EMEA and North America impacted the quarter on the PR front.
Amid a strategic review, FTI declined to provide guidance for the full year but forecast Q1 2014 revenue between $410M and $425M. The company expects strategic communications revenue to be down in "mid-single digit percentages" in Q1 due to continued challenging capital markets activity and pricing pressure.
DJE Holdings, parent of Edelman and Zeno, launches RUTH as an independent shop named after Ruth Edelman, mental health advocate, wife and longtime business partner of Dan Edelman.
New York City PR firms make up the largest slice of O'Dwyer's 147 firm overall ranking with 33 of 40 in the New York/New Jersey area either calling Manhattan their home or having a presence there.
Subject Matter+Kivvit, which joined forces in May, has rebranded as Avoq, an integrated shop with more than 200 professionals in Washington, New York, Asbury Park (NJ), Miami and Chicago.
While PR pros stationed at in-house comms. teams and those working for agencies share many of the same objectives, they also have markedly different top priorities, according to a recent report.
Edelman is cutting 240 employees or about four percent of its workforce to cope with the cooling down of the PR sector, according to a memo from CEO Richard Edelman.
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