FTI Consulting reported today fourth quarter 2014 strategic communications revenue fell 1.2% to $46.3M as president/CEO Steven Gunby expressed "disappointment" for the period.
FTI said currency fluctuations put its communications operation in the red as revenues would have increased 1.7% on a project-related success fee if currency effects are excluded.
Across the company, revenues rose 2.2% to $452.2M for the quarter. Net income swung positive to $921M after a loss in Q4 2013.
For the year, FTI’s strategic communications operation saw a 1.7% uptick in revenues to $189.4M. FTI has 566 staffers in its PR operation. Full-year revenues across FTI climbed 6.3% to $1.76B.
"Notwithstanding our disappointment in the fourth quarter, we are making solid progress towards getting to where we need to be to meet the 2015 and 2016 targets we have outlined," said Gunby.
Long-term debt is $700M.
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