* Q2 dragged by 7 pct fall in revenue
* Sees 2010 adj EPS $2.10-$2.20, up from $2-$2.20
July 28 Huron Consulting Group Inc's (HURN.O)
quarterly profit plunged 75 percent on lower revenue from its
financial and health and education consulting segments, but the
company raised the lower end of its 2010 earnings forecast.
For the second quarter, net income was $2.4 million, or 12
cents a share, compared with $9.6 million, or 47 cents a share,
a year ago. Adjusted earnings from continuing operations were
45 cents a share.
Total revenue fell 7 percent to $143.7 million.
Analysts expected earnings of 36 cents a share, before
special items, on revenue of $146.9 million, according to
Thomson Reuters I/B/E/S.
Sales from health and education consulting, the company's
biggest revenue stream, fell 8 percent to $83.8 million, while
the financial consulting segment saw a decrease of 18 percent
to $26.0 million.
The company expects its health and education consulting
services to get a boost from hospitals that are beginning to
assess the impact of healthcare reforms.
For 2010, the company now sees adjusted earnings from
continuing operations of $2.10 a share to $2.20 a share on
revenue of $600 million to $620 million. It earlier forecast
earnings of $2 a share to $2.20 a share on revenue of $600
million to $640 million.
In the consulting space, Huron competes with companies like
FTI Consulting Inc (FCN.N), Navigant Consulting Inc (NCI.N) and
private players like Ernst & Young [ERNY.UL] and
Shares of the company were trading down 2 percent at $21.01
after the bell. They closed at $21.37 in regular session on
(Reporting by Sweta Singh in Bangalore; Editing by Maju