FTI Consulting reported revenue of $470.3 million for the first quarter of 2016, an 8.8 percent increase from the $432.3 million the consulting operation brought in during the first quarter of 2015.
The Washington-based corporate services company also posted net income of $30.2 million for the quarter, up from $23.7 million in Q1 2015. Operating income was $52.2 million, compared to $48 million during the first quarter the year prior.
FTI Consulting's strategic communications revenue increased 7.1 percent — $3 million — to $45.1 million in the quarter, compared to $42.1 million in the first quarter of 2015. This was due primarily to stronger project-based revenues in public affairs and financial communications operations occurring in North America and the EMEA regions, the company said in a statement.
Adjusted EBITDA for FTI’s Strategic Communications segment was $6.1 million, or 13.5 percent of that division's revenues, compared to $5.8 million, or 13.7 percent of segment revenues in Q1 2015.
“In the first quarter, our teams delivered record quarterly revenues and adjusted earnings per share,” FTI president and CEO Steven Gunby said in a statement. “And importantly, no businesses underperformed our expectations.”
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