FTI stock falls 12% after earnings report is released

February 27, 2010

Shares of Baltimore-based FTI Consulting fell 12 percent Friday after fourth quarter earnings fell below analysts' expectations. The company said its net income rose 21 percent to $36.6 million, or 71 cents per diluted common share, from $30.1 million, or 56 cents per common share, for the three months ended Dec. 31. But results fell short of Zacks Consensus Estimates of 73 cents per share. The company, which offers forensic and litigation consulting as well as technology services, said revenues rose 6.2 percent, to $342.9 million from $322.9 million in the fourth quarter of 2008. Jack Dunn, FTI's president and chief executive officer, said the company posted a record quarter even as credit conditions have eased and the company's restructuring and bankruptcy practices have not grown at rates seen in prior quarters. FTI shares closed at $36.74 per share Friday on the New York Stock Exchange.

- Lorraine Mirabella

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