FTI Consulting’s PR revenues declined 8.8 percent to $60.5M during the fourth quarter, while operating income jumped 20 percent to $10.2M.
Mark McCall, who heads the strategic communications unit, told O'Dwyer's he was really pleased with the financial results achieved during a challenging time, noting that his unit reported an “uptick” from the third-quarter results.
FTI’s core PR business performed well, sparked by gains in the healthcare and financial services sectors, according to McCall.
He attributed the sales decline to a fall-off in large-scale transactions and a drop in “pass-through” revenues (advertising, marketing dollars).
FTI continues to invest in the stratcom operation and is making key hires in areas such as crisis management and crisis PR.
For the full year, the stratcom practice registered a 5.9 percent dip in revenues to $228M. Operating income dropped 19.2 percent to $31.7M.