FTI Consulting reported fourth quarter 2011 revenues rose 9.7% to $390.7M over 2010 on the strength of economic, forensic/litigation and technology consulting, while its strategic communications business fell one percent to $49.2M.
Overall net income at FTI for Q4 rose $39.9M, while operating income for its PR division hit $19M, up from $11.6M in 2010.
CEO Jack Dunn said FTI saw higher retainer business in strategic communications which was offset by a decrease in reimbursable expense work. Overall, he said the segment looks “very positive” on European M&A and North American improvement in cyclical deals and restructurings, despite tough credit markets.
FTI, which retired the FD name for its PR unit in September as it brought all of its segments under the FTI banner, worked the MF Global bankruptcy among its assignments in Q4. It is currently working Kodak's chapter 11.
For the year, overall revenues rose 11.8% to $1.6B as net income hit $103.9M. Strategic communications passed $200M, up from $193M in 2010. Staff level in the unit for 2011 was 582, essentially flat from 2010.