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Burlington, MA, United States

Navigant is a specialized expert services firm.Based in Chicago, Illinois, Navigant has over forty offices across the United States, Canada, Europe, and Asia. 2012 revenues were $845 million. The company has been listed among Forbes' Best Run Small Companies and Fortune's Fastest Growing Companies. The company's stock is a member of the S&P 400 index. Wikipedia.


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News Article | February 13, 2017
Site: www.theenergycollective.com

Five years ago almost to the day (Feb. 9, 2012, actually), the Nuclear Regulatory Commission voted 4-1 to issue a construction and operating license to Southern Company for the 2,234 megawatt Vogtle 3&4 project—the first of the new generation of reactors that was touted as the beginning of the industry’s long climb back from 30 years of dormancy. At the time, Marvin Fertel, then president and CEO of the Nuclear Energy Institute, the industry’s trade association, sounded almost euphoric: “This is a historic day. [The NRC decision] sounds a clarion call to the world that the United States recognizes the importance of expanding nuclear energy….” Fertel’s optimism was hardly unique: A year earlier, Jim Miller, CEO of Southern Nuclear, the company’s operating subsidiary, told Scientific American: “The nuclear revival is under way in Georgia.” My, how much has changed in just five years. Today, we are waiting for the other shoe to drop in the Westinghouse-Toshiba fiasco, which is expected later this month. When that happens it will serve as the end point of the revival that never really took place—five years from start to finish, not quite the long-running blockbuster the industry had hoped for. There is plenty of blame to go around—the federal government’s incentives were poorly structured and created a rush to get in the door, the Nuclear Regulatory Commission probably didn’t have the funding or staff to effectively implement its new, much-touted licensing requirements, and the Fukushima Daiichi disaster in Japan certainly didn’t help—but at its heart this was a case of bad management and wishful thinking, by both Southern and Westinghouse. Southern, burned by its near-bankruptcy experience with Vogtle 1&2, which were years late and billions of dollars over budget, clearly was driven by a desire for cost certainty, and the company has frequently touted the essentially fixed price nature of its engineering, procurement and construction (EPC) contract with Westinghouse and, at least initially, CB&I. Even when things turned sour, and Southern and the contractors negotiated a deal in 2015 for Westinghouse to take over sole control of the project, the Georgia utility pointed out that the settlement (which added $350 million to Georgia Power’s costs for the project) included “additional contractual protections” to shield the company from even higher costs going forward. For Westinghouse, as I have written previously (see here), the fixed price contract made sense as a marketing tool. Its AP1000 reactors had never been built in the U.S. and the projects for Southern and SCANA’s South Carolina Electric & Gas unit offered a chance for the company to prove the technology’s worth. Never mind that Westinghouse had no real idea what the project would cost since almost none of the detailed design drawings were complete before the contract with Southern was signed, it was a chance to get a foot in the developing nuclear revival in the United States. Similar fixed price contracts had been offered up at the beginning of the nuclear era in the 1960s, and that didn’t end well. In a comprehensive 2013 report for the Eastern Interconnection States’ Planning Council and the National Association of Regulatory Utility Commissioners (NARUC), Navigant Consulting found that 13 early plants built by General Electric and Westinghouse had forced the two nuclear developers to subsidize more than a $1 billion in construction costs—back when $1 billion was real money, accounting for inflation that billion would be equal to almost $8 billion today. Interestingly, the contract amount for the first of these turnkey contracts, GE’s offer to build the 640 MW Oyster Creek plant in New Jersey, wasn’t tied to the actual cost of building the plant at all, but according to Navigant was simply set so that it would be cheaper than a fossil plant alternative. GE got the contract, but as the chart below indicates, it had to eat almost half the cost of the project. Clearly this was not a sustainable proposition, as Charles Huston (a nuclear expert retained by Georgia Power in its prudence review last year before the state’s public service commission) highlighted in his April 2016 written testimony to the PSC. “The fact that GPC [Georgia Power Company] was able to obtain an EPC agreement that contained fixed and firm prices for most of the EPC work scope in 2008 was a major achievement. Although certain NSSS [nuclear steam supply system] suppliers and engineer constructors were willing to provide fixed prices for nuclear plants in the 1960s and early 1970s, virtually every NSSS supplier and engineer constructor refused to provide fixed prices for nuclear plants in the late 1970s and 1980s. The reason for this is that they all lost large sums of money on their fixed price contracts for nuclear plants….” So the poster child for the U.S. nuclear revival returned to the industry’s fixed price roots, and just like the first do-si-do this dance isn’t going to end well either. As Huston notes repeatedly in his testimony on the prudence of Georgia Power’s management and spending, the fixed price nature of the EPC contract has largely shielded the utility and to a lesser degree its customers from the project’s cost increases. What he doesn’t say is that those costs haven’t gone away; they simply have been shifted onto the contractor. This brings us back to the other shoe, which is expected to come tumbling down Feb. 14, when Toshiba, Westinghouse’s parent, is scheduled to release its third quarter 2016 earnings. Public recognition of the troubles began in December, when Toshiba warned that all was not well, saying that it might have to write off several billion dollars in relation to its decision to buy out its construction partner in the Southern and SCANA projects, CB&I Stone Webster. More ominous, certainly for any future nuclear projects, was this statement: “Westinghouse has found that the cost to complete the U.S. projects will far surpass the original estimates, mainly due to increases in key project parameters resulting in far lower asset value than originally determined.” How this will play out remains to be seen, but I think it is safe to say that there will never be another fixed price contract to build a large nuclear power plant in the U.S.—the risk is simply too great, just ask Toshiba/Westinghouse. And if the fixed price option is off the table, the revival, such as it was, is over. In the current slow-growth, climate change denial environment, no utility is going to take on that risk, which amounts to a bet-the-company approach for all but the very largest firms. And tell me if you think there is a utility regulator anywhere in the United States that would be willing to sign off on such a project. I can hear that conversation now: ‘So, let me get this straight, you want me to approve a project whose total cost is unknown, and whose completion date is uncertain. I don’t think so…’


ZURICH--(BUSINESS WIRE)--MMIS, Inc., a leading provider of global compliance solutions for life sciences, today announced that Michaeline Daboul, CEO and co-founder, will speak at the 5th Annual Corporate Compliance & Transparency in the Pharmaceutical Industry Fleming Conference in Zurich on Thursday, February 23, 2017 at 8:00 a.m. CET. Michaeline along with MMIS co-founder Tim Robinson, Esq. and J. Mark Farrar, CPA, CFE, CFF, Managing Director, Navigant Consulting will lead participants in a workshop, “Clues to Understanding Compliance Enforcement”. An industry expert with over 25 years of experience working with life science companies, Michaeline will lead an interactive discussion on the challenges with manual workflows and demonstrate through case studies how to implement the necessary controls and documentation to demonstrate compliance with anti-bribery laws, codes of conduct, the FCPA and other global laws related to interactions with HCPs. “We look forward to this collaborative session to assist pharmaceutical manufacturers in identifying behaviors and processes that could put their organizations at risk for non-compliance as outlined in recent enforcement actions. Cloud-based tools provide a cost effective way to introduce critical control points in manual processes while using imbedded analytics for monitoring compliance, reducing risk and improving business workflows,” said Ms. Daboul. MediSpend® is the first secure cloud-base end-to-end software-as-a-service (SaaS) solution designed specifically to help life sciences companies manage physician interactions and relations while ensuring compliance with the FCPA and global anti-bribery laws. Ms. Daboul has been interviewed by Inside CMS, Bloomberg BNA, CIO Review, Healthcare Finance News, Mass Device, Policy and Medicine and Healthcare Review North East Network on compliance challenges and the importance of implementing a global compliance solution across the business enterprise. Recently chosen by CIO Review for its annual listing of the 20 Most Promising Pharma and Life Science Technology Solution Providers, MediSpend® continues to break new ground as the first end-to-end compliance and data analytics cloud solution, benefiting life sciences companies around the globe. For more about Michaeline Daboul visit: www.michaelinedaboul.com MMIS, Inc. is the creator of MediSpend® the industry leader in cloud-based compliance software for the global life sciences industry. We are committed to customer success, developing innovative products and providing value to our customers and their organizations. MediSpend® customers range from the world’s largest medical device, pharmaceutical, dental and emerging biotech companies. Our customers are located in the US, Europe, Asia, and Latin America. For more information, visit www.medispend.com.


BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the strengths and weaknesses of policies to promote the development of wind power capacity in 28 countries. Until recently, most wind-related policy mechanisms were transparent, with fixed power purchase prices upfront for developers, in order to encourage wind plant investment despite the higher cost of wind compared to traditional power generation sources. Now that the cost of wind energy has plunged due to technology improvements and efficiencies of scale, many countries have begun exploring or implementing market-oriented policy options that decrease costs for supporting governments, utilities, ratepayers, and other purchasers of renewable energy electricity. Click to tweet: According to a new report from @NavigantRSRCH, in particular, competitive power contract auctions are sweeping the globe. “One of the biggest stories in the wind energy markets is the steady rise of competitive power contract auctions, which is driving down the cost of wind power to utilities and ratepayers while still enabling the profitable construction and financing of wind plants,” says Jesse Broehl, senior research analyst at Navigant Research. “The concept is not new but the pace of implementation is significant. Since the previous version of this report was published in 4Q 2015, nine countries have seen positive, substantial progress implementing power contract auctions, two countries are likely to enact new power contract auction schemes, and three countries have stumbled in their implementation of these auction programs—leading to a higher risk environment.” The global wind industry has faced a series of policy changes as markets mature and as various countries position to take advantage of wind energy’s newfound competitiveness against fossil-based power plants. According to the report, within this changing environment, growth has plateaued in some of the mature country markets with the most installed wind power capacity, while others are warming up for further expansion. The report, Global Wind Energy Policy and Market Risk Assessment, examines the strengths and weaknesses of the policies to promote the development of wind power capacity in 28 countries. Navigant Research summarizes the key details of each country’s policies for wind energy and assesses how the wind plant development and investment community is reacting to those policies to evaluate which markets are most likely poised to attract wind plant development and investment and experience further wind power capacity expansion. The criteria by which countries are compared include Policy Stability, Past Performance, Sector Potential, and Economic Forecast. Countries are grouped into the four categories of Booming, Outperformers, Growing and Stable, and Stalled or High Risk. Policy summaries include quantitative data on Feed-in-Tariff rates and average prices in multiple recent power contract auctions. An Executive Summary of the report is available for free download on the Navigant Research website. Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Global Wind Energy Policy and Market Risk Assessment, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


WASHINGTON, March 02, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced that Todd Lester has joined the firm’s Economic Consulting segment and its Energy, Power & Products (“EPP”) industry practice as a Senior Managing Director based in Austin, Texas. Mr. Lester, who joins FTI Consulting from Navigant Consulting, Inc., will focus on assisting law firms and companies involved in complex litigation, investigations, regulatory issues and other accounting and financial challenges. He brings nearly 30 years of experience advising on the financial, accounting, data analysis and damages aspects of multifaceted engagements, especially where complex business relationships and systems are involved. “Todd brings significant experience in the energy and power industry, ranging from disputes and investigations involving oil and natural gas exploration and production to the distribution of electric power,” said John Klick, Co-Leader of the firm’s EPP industry practice. “He is a welcome addition to our team and will provide clients with insights that will help them address their most complex business challenges.” Mr. Lester has extensive experience conducting investigations involving a wide variety of issues including accounting irregularities, breach of fiduciary duty, fraud, SEC compliance and other regulatory concerns, as well as the analysis and quantification of economic damages. During his career, he has worked with counsel and corporate clients in the energy, financial services and manufacturing industries, among others, as well as the U.S. government, the state of Texas and other federal and state agencies. His efforts have led to the provision of reports, opinions and expert testimony in state and federal courts, arbitration, mediation and other claim resolution processes. With industry specialists from across the firm’s five business segments, FTI Consulting’s EPP industry practice provides a wide array of advisory services that address the strategic, financial, reputational, regulatory and legal needs of energy and utility clients involved in the production of crude oil, natural gas, refined products, chemicals, coal, electric power, emerging technologies and renewable energy. About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,700 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2016. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.


WASHINGTON, March 02, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today announced that Todd Lester has joined the firm’s Economic Consulting segment and its Energy, Power & Products (“EPP”) industry practice as a Senior Managing Director based in Austin, Texas. Mr. Lester, who joins FTI Consulting from Navigant Consulting, Inc., will focus on assisting law firms and companies involved in complex litigation, investigations, regulatory issues and other accounting and financial challenges. He brings nearly 30 years of experience advising on the financial, accounting, data analysis and damages aspects of multifaceted engagements, especially where complex business relationships and systems are involved. “Todd brings significant experience in the energy and power industry, ranging from disputes and investigations involving oil and natural gas exploration and production to the distribution of electric power,” said John Klick, Co-Leader of the firm’s EPP industry practice. “He is a welcome addition to our team and will provide clients with insights that will help them address their most complex business challenges.” Mr. Lester has extensive experience conducting investigations involving a wide variety of issues including accounting irregularities, breach of fiduciary duty, fraud, SEC compliance and other regulatory concerns, as well as the analysis and quantification of economic damages. During his career, he has worked with counsel and corporate clients in the energy, financial services and manufacturing industries, among others, as well as the U.S. government, the state of Texas and other federal and state agencies. His efforts have led to the provision of reports, opinions and expert testimony in state and federal courts, arbitration, mediation and other claim resolution processes. With industry specialists from across the firm’s five business segments, FTI Consulting’s EPP industry practice provides a wide array of advisory services that address the strategic, financial, reputational, regulatory and legal needs of energy and utility clients involved in the production of crude oil, natural gas, refined products, chemicals, coal, electric power, emerging technologies and renewable energy. About FTI Consulting FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 4,700 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $1.81 billion in revenues during fiscal year 2016. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.


BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research examines the growing opportunities for energy storage systems (ESSs) to provide services to the grid, with global market forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and application, through 2025. Utilities and grid operators are showing increased interest in energy storage for the grid and ancillary services (ESGAS) due in part to the rapidly falling systems costs, particularly for battery ESSs. However, many ESS developers still see a significant need for education throughout the industry and believe these systems should have their own rules and be treated as a unique technology in regulatory structures. Click to tweet: According to a recent report from @NavigantRSRCH, power capacity of global installed ESGAS is expected to total 93.8 GW from 2016 to 2025. “Grid operators and regulators are beginning to recognize the value of ESSs for multiple services,” says Alex Eller, research analyst with Navigant Research. “Due to the maturation of the industry, the financial community is growing more comfortable with investments in energy storage, further lowering the cost to deploy systems and accelerating the industry.” Differences in energy market structures and grid needs around the world will result in ESGAS markets with unique needs, according to the report. This dynamic highlights how important it is to have flexible offerings in both technologies and business models to succeed in the increasingly competitive ESGAS industry. The report, Energy Storage for the Grid and Ancillary Services, explores the growing opportunities for ESSs to provide numerous services to the grid and how these markets will evolve in the coming decade. All major technologies for utility-scale energy storage, including advanced batteries and electromechanical systems, are covered in this report for the six top services that energy storage can provide. Global market forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and application, extend through 2025. The report also examines the key business models related to ESGAS, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website. Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Energy Storage for the Grid and Ancillary Services, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market for small and medium wind turbines (SMWTs), examining the competitive landscape, market issues, and technology issues, and providing forecasts for capacity and revenue, through 2026. Despite weakening policy drivers and competition from declining solar PV prices, the SMWT industry is still poised for growth. With a large amount of wind resource potential still available, plus several growing and emerging markets, the industry is anticipated to sustain itself into the foreseeable future. Click to tweet: According to a new report from @NavigantRSRCH, the global installed capacity of SMWTs is expected to grow from 176.4 MW in 2017 to 446.0 MW in 2026. “With historically leading markets such as the United States, the United Kingdom, and China seeing declining annual installed capacities of small and medium wind in recent years, other countries such as Japan, Denmark, and Italy are emerging as forces in the distributed wind market thanks to favorable government incentives,” says Adam Wilson, research associate with Navigant Research. “We’re also seeing a shift with medium-sized turbines as their niche slowly shrinks as drivers continue to favor small wind turbines for distributed wind and larger multi-megawatt turbines dominating utility-scale applications.” As the SMWT market continues to mature, wind lease programs are becoming a more popular business model, and the applications for small wind turbines are expanding, according to the report. Key industry players, however, are beginning to set themselves apart as market innovators by seeking out and expanding to different areas around the globe as policies shift and demand changes. The report, Market Data: Small and Medium Wind Turbines, analyzes the global market for SMWTs, defined as any wind turbine less than 1,000 kW in capacity. The study provides an analysis of the market issues, including demand drivers and challenges, associated with SMWTs. Global market forecasts for capacity and revenue, segmented by region, extend through 2026. The report also provides an overview of the technology issues related to SMWTs, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website. Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Market Data: Small and Medium Wind Turbines, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


BOULDER, Colo.--(BUSINESS WIRE)--A new white paper from Navigant Research analyzes five global trends for distributed natural gas (DNG) in 2017 and beyond, including the key determinants driving global investment and related opportunities. Thanks to key developments in technology, new business models, and the changing regulatory environment, established DNG technologies are now being used in new applications. Access to cheap natural gas, demand for resilient onsite power, and improved controls offerings are improving the value proposition for customers, and regulators are recognizing the benefits of cleaner, dispatchable distributed generation as grids experience growing supply variability from intermittent renewables. Click to tweet: According to a new white paper from @NavigantRSRCH, despite its relative maturity, DNG-fueled generation is undergoing a transformation. “As natural gas becomes more globally available, opportunities are growing for DNG generation,” says Adam Forni, senior research analyst with Navigant Research. “Mature technologies like generators are developing personality and becoming more interactive thanks to smarter controls, demand for resiliency, and a need to balance increasingly variable grids.” According to the report, as macroeconomic, regulatory, and technological forces push the DNG industry into a new era, the following five trends are expected to be the most impactful in the next few years: The white paper, Distributed Natural Gas: Five Trends for 2017 and Beyond, analyzes five global trends for DNG in 2017 and beyond. The study examines the key determinants driving global investment in DNG and the related opportunities. Each of the topics in this white paper is examined more deeply in research reports and ongoing research from Navigant Research’s Distributed Natural Gas Research Service. An Executive Summary of the report is available for free download on the Navigant Research website. Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Distributed Natural Gas: Five Trends for 2017 and Beyond, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the market for smart parking systems, with a focus on on-street parking, and provides global market forecasts for related hardware, software, and services revenue, through 2026. As parking and congestion challenges continue to affect cities globally, local government and parking operators are turning to a variety of technologies to make parking a more efficient, profitable, and sustainable industry. To date, sensor technologies have been key to smart parking progress, however, newer and more adaptable systems—including cameras, wireless communications, data analytics, induction loops, smart parking meters, and advanced algorithms—are also helping to solve city parking issues. Click to tweet: According to a new report from @NavigantRSRCH, the installed base of global on-street smart parking spaces is expected to reach 1.1 million by 2026. “The smart parking market is moving toward less of a focus on hardware (and thus upfront costs) and toward more technology integration and an increased utilization of software and data sources,” says Ryan Citron, research analyst with Navigant Research. “Increasing interest in the smart parking market has been demonstrated by major players such as Bosch, Siemens, Verizon, and Kapsch TrafficCom AG, which indicates that key suppliers see long-term value in the smart parking market as part of a broader smart city and Internet of Things (IoT) strategy.” While several large, high profile smart parking deployments proved successful in the early stages of the smart parking industry, obtaining the funding for similar-sized projects has become difficult, according to the report. As a result, the average project size has decreased, but the overall quantity has increased, particularly among smaller cities. The report, Smart Parking Systems, analyzes the evolution of smart parking technology and the smart parking systems market, with a particular focus on on-street parking. The study analyzes the drivers for the transformation in parking, including financial, environmental, and economic factors, and assesses approaches to parking in different regions. Global market forecasts of smart parking systems hardware, software, and services, broken out by segment and region, extend through 2026. The report also examines significant smart parking projects and case studies of major deployments from around the world, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website. Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Smart Parking Systems, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


News Article | February 16, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--Navigant (NYSE: NCI) today announced financial results for the fourth quarter and the full year ended December 31, 2016. The Company also introduced its business and financial outlook for 2017. “Navigant delivered outstanding results in 2016, far exceeding our historical trends in top and bottom line growth, our original estimates for the year and general economic growth,” commented Julie Howard, Chairman and Chief Executive Officer. “Seamless execution on our strategic plans and the clear alignment of our professionals’ expertise to the transformational issues impacting our clients translated into strong business performance. We are very pleased to have delivered significant value to our shareholders as a result. Looking ahead, I view 2017 with measured optimism. We plan to remain nimble in aligning our resources and capabilities to address the potential changes that may occur for our clients as the regulatory environment evolves.” Navigant reported fourth quarter 2016 RBR of $239.7 million, a 13% increase (9% organic growth), compared to $212.0 million for fourth quarter 2015. Total revenues increased 14% to $266.1 million for fourth quarter 2016 compared to $232.6 million for fourth quarter 2015. Net income for fourth quarter 2016 was $13.5 million, or $0.28 per share, compared to $13.2 million, or $0.27 per share, in the prior year fourth quarter. Adjusted EPS was $0.30 for fourth quarter 2016, up 7% compared to fourth quarter 2015. Fourth quarter 2016 adjusted EBITDA was $34.8 million, a 13% increase, compared to $30.9 million for the same period in 2015. Adjusted EBITDA margin (adjusted EBITDA as a percent of RBR) for fourth quarter 2016 was 14.5%, flat compared to fourth quarter 2015. RBR for full year 2016 increased 13% (9% organic growth) on a year-over-year basis to $938.7 million compared to $833.8 million for full year 2015. Total revenues for full year 2016 increased 13% on a year-over-year basis to $1.03 billion compared to $919.5 million for full year 2015. Net income for full year 2016 was $58.1 million, or $1.19 per share, compared to $60.3 million, or $1.23 per share, in 2015. Adjusted EPS was $1.27 for full year 2016, up 19% compared to full year 2015. Full year 2016 adjusted EBITDA was $142.3 million, an 18% increase, compared to $120.9 million for full year 2015. Adjusted EBITDA margin for full year 2016 increased to 15.2% compared to 14.5% for full year 2015. “We made significant progress on our growth strategy while strengthening our financial position during 2016,” said Stephen Lieberman, Executive Vice President and Chief Financial Officer. “We completed strategic acquisitions and made investments to complement and enhance our core businesses, while also remaining intensely focused on strong capital management. Going forward, our emphasis will be on operating more efficiently to advance our growth agenda and to meet the financial targets we set forth today.” Healthcare segment RBR increased 21% for fourth quarter 2016 and 23% for full year 2016 compared to the respective periods in 2015, with more than half of that growth organic. Strength in both fourth quarter 2016 and full year 2016 was driven by continued demand for large, strategy-led transformation projects and revenue cycle consulting engagements. Segment operating profit was up 27% in both fourth quarter 2016 and full year 2016, compared to the respective periods of 2015. Energy segment RBR increased 14% for fourth quarter 2016 on a year-over-year basis, primarily driven by contributions from the Ecofys acquisition announced in November 2016. Full year 2016 RBR was up 9% from full year 2015, with more than half of that growth organic, reflecting an increase in demand for strategy and operations projects for utilities and energy efficiency evaluation and standards engagements driven largely by increased penetration of key client accounts. Segment operating profit was up 11% in fourth quarter 2016 and up 4% in full year 2016, compared to the respective periods in 2015. The Financial Services Advisory and Compliance segment RBR for fourth quarter 2016 increased 21% compared to the prior year quarter and increased 22% for full year 2016 compared to full year 2015, all on an organic basis. Strength was driven primarily by continued demand for financial crimes consulting expertise and an increase in compliance and controls engagements for major financial institutions, as compared to the prior year periods. Segment operating profit was up 18% in fourth quarter 2016 and up 29% in full year 2016, compared to the respective periods of 2015, driven by RBR growth, better pricing and greater use of lower cost, flexible resources. The Disputes, Forensics & Legal Technology segment RBR increased 2% for fourth quarter 2016 and 1% for full year 2016 compared to the respective periods in 2015, all on an organic basis. Growth in both fourth quarter 2016 and full year 2016 was primarily driven by the continued strong demand for our global expertise in complex industrial, infrastructure and commercial project matters and an increase in performance-based fees associated with mass tort claims work. Segment operating profit was up 4% in fourth quarter 2016 and up 6% in full year 2016 compared to the respective periods of 2015. Net cash provided by operating activities for fourth quarter 2016 was $54.4 million compared to $49.0 million for fourth quarter 2015, and was $110.0 for full year 2016 compared to $83.1 million for full year 2015, as a result of improved earnings. Free cash flow increased to $7.9 million for fourth quarter 2016 compared to $7.5 million for the same period in 2015, primarily driven by a decrease in deferred acquisition payments, partially offset by increased capital expenditures. Full year 2016 free cash flow was $78.8 million compared to $49.0 million for full year 2015, reflecting improved operating performance, decreased capital expenditures and a decrease in deferred acquisition payments. Days Sales Outstanding was 81 days as of December 31, 2016, up five days compared to December 31, 2015. Bank debt was $135.0 million at December 31, 2016, compared to $173.7 million at December 31, 2015 and $161.2 million at September 30, 2016. Leverage (bank debt divided by trailing twelve month adjusted EBITDA) was 0.95 at December 31, 2016, compared to 1.44 at December 31, 2015 and 1.17 at September 30, 2016. Navigant repurchased 291,495 shares of common stock during fourth quarter 2016 at an aggregate cost of $6.3 million and an average cost of $21.46 per share. For full year 2016, the Company repurchased approximately 1.4 million shares of common stock at an aggregate cost of $25.1 million and an average cost of $17.45 per share. As of December 31, 2016, approximately $63.0 million remained available under the Company’s share repurchase authorization. Navigant is introducing its 2017 outlook. Full year 2017 RBR is expected to range between $975 million and $1.010 billion while 2017 total revenues are estimated to be between $1.075 billion and $1.115 billion. Adjusted EBITDA for the full year 2017 is expected to range between $145 and $156 million and adjusted EPS for the full year 2017 is estimated to be between $1.29 and $1.36. This press release includes certain non-GAAP financial measures as defined by the Securities and Exchange Commission. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles (GAAP) are included in the financial schedules attached to this press release. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP. No reconciliation of Navigant’s 2017 adjusted EBITDA guidance and 2017 adjusted EPS guidance, both of which exclude the impact and tax-effected impact of severance expense and other operating costs (benefit), respectively, is included in the financial schedules attached to this press release. Navigant is not able to accurately forecast the excluded items at the level of precision that would be required to be included in the most directly comparable GAAP financial measure without unreasonable efforts. Navigant will host a conference call to discuss the Company’s fourth quarter and full year 2016 results at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on Thursday, February 16, 2017. The conference call may be accessed via the Navigant website (investors.navigant.com) or by dialing 888.455.9733 (630.395.0358 for international callers) and referencing pass code “NCI.” An archived version of the webcast will also be available via the Navigant website. A report of financial and related supplemental information is also available via the Navigant website. Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on industries and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services markets. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. Statements included in this press release which are not historical in nature are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by words such as “anticipate,” “believe,” ”may,” “could,” “intend,” “estimate,” “expect,” “plan,” “outlook” and similar expressions. These statements are based upon management’s current expectations and speak only as of the date of this press release. The Company cautions readers that there may be events in the future that the Company is not able to accurately predict or control and the information contained in the forward-looking statements is inherently uncertain and subject to a number of risks that could cause actual results to differ materially from those contained in or implied by the forward-looking statements including, without limitation: the execution of the Company’s long-term growth objectives and margin improvement initiatives; risks inherent in international operations, including foreign currency fluctuations; ability to make acquisitions and divestitures; pace, timing and integration of acquisitions and separation of divestitures; operational risks associated with new or expanded service areas, including business process management services; impairments; changes in accounting standards or tax rates, laws or regulations; management of professional staff, including dependence on key personnel, recruiting, retention, attrition and the ability to successfully integrate new consultants into the Company’s practices; utilization rates; conflicts of interest; potential loss of clients or large engagements and the Company’s ability to attract new business; brand equity; competition; accurate pricing of engagements, particularly fixed fee and multi-year engagements; clients’ financial condition and their ability to make payments to the Company; risks inherent with litigation; higher risk client assignments; government contracting; professional liability; information security; the adequacy of our business, financial and information systems and technology; maintenance of effective internal controls; potential legislative and regulatory changes; continued and sufficient access to capital; compliance with covenants in our credit agreement; interest rate risk; and market and general economic and political conditions. Further information on these and other potential factors that could affect the Company’s financial results are included under the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, and elsewhere in the Company’s filings with the Securities and Exchange Commission (SEC), which are available on the SEC’s website or at investors.navigant.com. The Company cannot guarantee any future results, levels of activity, performance or achievement and undertakes no obligation to update any of its forward-looking statements.

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