NEW YORK—The strategic communications division of FTI Consulting saw revenues increase by 1 percent in the first quarter of 2013, to $45.5 million from $45.0 million in the prior year quarter.
The firm says the growth reflected higher project income in North America and the Europe, Middle East and Africa region, as well as higher pass-through revenue in North America, but fewer merger and acquisitions projects in Asia Pacific and reduced project income in Latin America.
Adjusted EBITDA was $3.6 million, or 7.8 percent of revenues, compared to $4.5 million or 10.1 percent of revenues in the prior year quarter, reflecting a higher proportion of low-margin pass-through revenue, lower margins in Asia and Latin America and the impact of acquisition costs related to North America based public policy firm C2 Group, acquired in March, 2013.
Overall, FTI Consulting saw revenues for the quarter increase 3 percent to $407.2 million. Adjusted EBITDA was $59.3 million, compared to $54 million for the prior year quarter, representing an increase of 9.9 percent.