FTI Consulting today posted a record 20 percent increase in third quarter revenue to $413.8M, although the business advisory firm said its strategic communications operation saw only a three percent climb to $57M mostly due to currency fluctuations.
Net income for Q3 climbed 46% to $29.4M compared with Q3 of 2010.
FTI said several key financial communications and restructuring projects benefited its PR unit, but it continued to be impacted by “ongoing sluggish capital markets activity.”
During Q3 its communications unit, FD, was renamed under the FTI banner. It accounted for 12% of earnings with 579 staffers via financial and brand comms., public affairs, and crisis comms. For the first nine months, the division posted revenues of $143.3M.
Economic consulting and technology were FTI’s top performing units with 61% and 33% growth, respectively.
President and CEO Jack Dunn said Latin America, particularly Brazil, continued to exceed expectations.
FTI shares surged 10 percent in trading today to $41.98, up $3.53 amid a broader market rally.
The company also said in its Q3 conference call it is handling bankruptcy counseling, including communications, for MF Global.