FTI Consulting's strategic communications revenues declined 4.9% in the first quarter to $43.2M amid an overall 4.5% increase to $425.6M for the business advisory company.
Steven Gunby, president and CEO of FTI who took the reins from Jack Dunn in January, said corporate finance/restructuring continued a "downward trend," while strategic communications had "another down quarter" and economic consulting got off to a rough start to the year. He added: "Though we see numerous opportunities to drive the performance of all of our segments and regions, most of these opportunities will benefit 2015 and 2016 much more than 2014."
Net income across FTI's business fell 23% to $18.1M.
FTI said communications revenues fell organically by 8.9 percent ($4.0) million due to reduced pass-through revenues. The segment counted 584 staffers at the end of Q1, down from 619 a year earlier. The unit picked up business from Northrop Grumman and the Hong Kong Trade Development Council this year.
For the quarter at FTI, corporate finance/restructuring fell 5.1% to $94M, economic consulting slipped 7.2% ($106.9M), forensic and litigation consulting jumped 20.6% to $121.4M, and technology rose 28.6% to $60.1M.