FTI Consulting's stock falls on first-quarter earnings miss

Baltimore business services company produces 18 cents a share less than expected

May 09, 2012|By Jamie Smith Hopkins, The Baltimore Sun

FTI Consulting Inc.'s stock price hit a 12-month low Wednesday after the business services company fell short of financial analysts' expectations for first-quarter earnings.

The company, which has its corporate headquarters in Baltimore, said it earned 43 cents per share in the three months ending in March. That was up slightly from 42 cents per share a year earlier but 18 cents a share short of what analysts had anticipated. The company attributed the gap to a range of factors, including "expenses and investments that should not recur in 2012."

FTI's stock price fell 8.7 percent per share, to $32.05. As recently as early February, shares closed above $44 apiece.

The company produced $395 million in revenue during the first quarter, up about 9 percent over the year. But net income dropped 4.3 percent, to $18.4 million.

jhopkins@baltsun.com

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