FTI Q4 REVENUES RISE, PR FLAT
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.
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.
MSL SNAGS EX-CONGRESSMAN
MSL Washington has added former Missouri Republican Congressman Kenny Hulshof as senior advisor for its public affairs practice.
The six-termer was a member of the Ways and Means Committee, where he tackled healthcare, energy and trade issues. He mounted an unsuccessful bid for governor of Missouri in 2008.
Jim Tsokanos, president of MSLGroup Americas, called Hulshof a “master tactician and experienced policy maker.”
Prior to his Capitol Hill duty, Hulshof was special prosecutor in Missouri’s attorney general office.
At MSL, he reports to Neil Dhillon, managing director/Washington. Hulshof will remain a shareholder at Polsinelli Shughart, which is based in Kansas City.
At MSL, Hulshof “looks forward to helping educate companies and organizations across America and around the globe about the new political realities in Washington,” according to his statement.
EDELMAN ACQUIRES VIETNAM'S AVC
Edelman has acquired Vietnam’s AVC Communications, the 12-year-old firm with 35 staffers.
In announcing the deal, Richard Edelman noted that clients are “pounding at our door” for PR support in the world’s 13th most populous country blessed with a rapidly expanding middle-class market.
Vietnam’s economy is expected to advance more than five percent this year. PR will outpace that growth as multinationals shift budgets from pure-play advertising to a mix that includes PR and social media.
AVC serves consumer electronics, technology, energy and healthcare. It becomes AVC Edelman and part of the independent firm’s southeast Asia group, which has more than 300 staffers, following government approval of the transaction.