Huron Consulting Plunges on Q1 Earnings

Huron Consulting

released its first quarter earnings results after the closing bell on Wednesday. The company reported net income of $0.9 million or $0.04 per share, compared to $4.1 million or $0.19 per share, in the year ago period. On an adjusted basis, net income was $3 million or $0.13 per share, compared to $6.2 million or $0.29 per share, in last year's corresponding quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.35. Total revenues in the quarter were $152.4 million compared to $148.5 million last year. The company also affirmed its full-year 2012 guidance. HURN expects non-GAAP EPS between $2.25 and $2.50. Revenues are expected to be between $620.0 million and $660.0 million. Currently analysts have consensus EPS estimates of $2.18 on revenues of $655.44 million for the full year. During Thursday's trading session, HURN shares have lost 9.60% to $35.06.