Strategic communication can mean either communicating a concept, a process, or data that satisfies a long term strategic goal of an organization by allowing facilitation of advanced planning, or communicating over long distances usually using international telecommunications or dedicated global network assets to coordinate actions and activities of operationally significant commercial, non-commercial and military business or combat and logistic subunits. It can also mean the related function within an organization, which handles internal and external communication processes. Strategic communication can also be used for political warfare. Wikipedia.


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News Article | February 28, 2017
Site: www.businesswire.com

NEW YORK --(BUSINESS WIRE)--Falcon.io’s leading customer experience management platform has been selected by the Columbia University School of Professional Studies (SPS) to aid in boosting its social media presence while centralizing its social account management, community management, and social listening. Columbia's School of Professional Studies offers 14 master's degrees, a comprehensive portfolio of pre-professional, post baccalaureate, and lifelong learning programs, and interdisciplinary research centers. By offering market-leading degree programs across disciplines, such as Applied Analytics, Bioethics, Sports Management, Strategic Communications, Sustainability and Technology Management, the School is uniquely positioned to meet the diverse professional education needs of top recent graduates, successful mid-career professionals, and accomplished executives. “We found that the inconsistency in our social activity created a disconnect that was confusing, and potentially a turnoff, for students, alumni and faculty,” said Caroline Henley, social media specialist at Columbia University. “With the Falcon platform we have successfully centralized all of our accounts and can now cross-promote events and content, conduct social listening, and facilitate community management – all from a unified interface. Since February 2016, we have doubled the graduate school’s social following across programs and channels, launched and grown the Dean’s Twitter handle to over 5k followers.” Falcon.io’s award-winning customer experience management platform gives brands the ability to easily manage social media listening, engagement and publishing, while also building more comprehensive customer personas. The Falcon platform recently won a Facebook Innovation Spotlight award in the “Personalized Marketing to Scale” category and previously received the 2013 Bully Award for excellence in Innovation. “All institutions, not just higher education, can benefit from a centralized approach to social media,” added Aaron Ketry, Falcon.io’s North American sales director. “Our platform is ideally suited for organizations that are looking for a unified and scalable tool to better understand their different customer profiles while centralizing social media management, social listening and community management.” Falcon.io offers an integrated SaaS platform for social media listening, engaging, publishing and managing customer data. The company enables their clients to explore the full potential of digital marketing by managing multiple customer touchpoints from one platform. Falcon.io’s diverse and global client portfolio includes Carlsberg, Flying Tiger Copenhagen, Nintendo of Europe, IWC Watches, Mentos, Redken, Coca-Cola and many more. Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world.


News Article | February 28, 2017
Site: globenewswire.com

Oxford, UK, 28 February 2017 - Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy ('DMD') and Clostridium difficile infection, recognises the tenth annual Rare Disease Day taking place today, 28 February 2017. The Rare Disease Day 2017 theme, 'with research, possibilities are limitless,' emphasises the importance of scientific research in helping to understand, diagnose and treat rare diseases that affect millions of people and their families worldwide. Summit seeks to remain at the forefront of utrophin modulation research through its strategic alliance with the University of Oxford, under the guidance of Professor Kay Davies. The collaboration is focussed on developing future-generation utrophin modulators for the potential treatment of all patients with the progressive muscle wasting disorder, DMD. To date, the research team has identified two series of novel utrophin modulators, one of which has a mechanism of action potentially distinct from ezutromid, the Company's lead utrophin modulator that is in a Phase 2 clinical trial in DMD patients. "In our quest to bring a potentially disease-modifying treatment to all patients with DMD, we have collaborated with the preeminent expert in utrophin modulation biology, Professor Kay Davies, and her research team at the University of Oxford," said Glyn Edwards, Chief Executive Officer of Summit. "We applaud EURORDIS, the organisation representing rare disease patients in Europe, for bringing an annual spotlight to the plight of millions of people affected by rare diseases and in this year, recognising the immense impact that research is having and will continue to have for those living with rare diseases." In the European Union a rare disease is defined as one that affects fewer than 5 in 10,000 of the general population, while in the United States, it is defined as a disease that affects fewer than 200,000 people. There are between 6,000 and 8,000 known rare diseases with around five new rare diseases described in the literature each week. Rare diseases are often chronic and life threatening and include rare conditions, such as childhood cancers, and some other well-known conditions including cystic fibrosis and DMD. Rare Disease Day takes place on the last day of February each year, and its objective is to raise awareness among the general public and decision-makers about rare diseases and their impact on patients' lives. Rare Disease Day was launched in Europe in 2008 by EURORDIS. It is now observed in more than 80 nations, and is sponsored in the US by the National Organization for Rare Disorders (NORD). For more information, please visit www.rarediseaseday.org. DMD is a progressive muscle wasting disease that affects around 50,000 boys and young men in the developed world. The disease is caused by different genetic faults in the gene that encodes dystrophin, a protein that is essential for the healthy function of all muscles. There is currently no cure for DMD and life expectancy is into the late twenties. Utrophin protein is functionally and structurally similar to dystrophin. In preclinical studies, the continued expression of utrophin has a meaningful, positive effect on muscle performance. Summit believes that utrophin modulation has the potential to slow down or even stop the progression of DMD, regardless of the underlying dystrophin gene mutation. Summit also believes that utrophin modulation could potentially be complementary to other therapeutic approaches for DMD. The Company's lead utrophin modulator, ezutromid, is an orally administered, small molecule. DMD is an orphan disease, and the US Food and Drug Administration ('FDA') and the European Medicines Agency have granted orphan drug status to ezutromid. Orphan drugs receive a number of benefits including additional regulatory support and a period of market exclusivity following approval. In addition, ezutromid has been granted Fast Track designation and Rare Pediatric Disease designation by the FDA. Summit is a biopharmaceutical company focused on the discovery, development and commercialisation of novel medicines for indications for which there are no existing or only inadequate therapies. Summit is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy and the infectious disease C. difficile infection. Further information is available at www.summitplc.com and Summit can be followed on Twitter (@summitplc). For more information, please contact: Any statements in this press release about Summit's future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of Summit's product candidates, the therapeutic potential of Summit's product candidates, and the timing of initiation, completion and availability of data from clinical trials, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from on-going and future clinical trials and the results of such trials, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, expectations for regulatory approvals, availability of funding sufficient for Summit's foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" section of filings that Summit makes with the Securities and Exchange Commission including Summit's Annual Report on Form 20-F for the fiscal year ended January 31, 2016. Accordingly readers should not place undue reliance on forward looking statements or information. In addition, any forward looking statements included in this press release represent Summit's views only as of the date of this release and should not be relied upon as representing Summit's views as of any subsequent date. Summit specifically disclaims any obligation to update any forward-looking statements included in this press release.


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

Strategic Communications announced today it has achieved Cisco® Gold Certification. To earn Gold Certification, Strategic Communications met rigorous standards set forth by Cisco in networking competency, service, support and customer satisfaction. “The Strategic Team has been working on this effort for the past two years, we are delighted we have met our goal in achieving Cisco Gold Certification”, says Kathy Mills – Owner and CEO of Strategic Communications. “This accomplishment required hard work, diligence and sacrifice from the entire Strategic Team. Strategic Communications is looking forward to building a stronger business relationship with the Cisco Team.” The Cisco® Channel Partner Program provides a framework for partners to build the sales, technical and Cisco Lifecycle Services skills required to deliver Cisco solutions to end customers. Through the program's specializations and certifications, Cisco recognizes a partner's expertise in deploying solutions based on Cisco advanced technologies and services. Using a third-party audit process, the program validates a partner’s technology skills, business practices, customer satisfaction, presales and post-sales support capabilities, and other critical factors that customers consider when choosing a trusted partner. As a Cisco Gold Certified Partner, Strategic Communications has met the requirements for attaining the broadest range of expertise across multiple technologies by achieving Cisco advanced specializations in the four following areas: enterprise networks architecture, security architecture, collaboration architecture and data center architecture. In addition, Strategic Communications has integrated Cisco Hybrid IT, the resale of cloud and managed services, into its offerings and is required to ensure high customer satisfaction in collaboration with Cisco. Cisco Gold Certification provides Strategic Communications with access to comprehensive sales, technical, and lifecycle services training and support available from Cisco. Strategic Communications is a Women Owned Small Business technology company based in Louisville, KY. Founded in 1994, Strategic’s Federal, Commercial, SLED and Engineering Team has provided an array of Networking, Collaboration, AV/VTC, Security and Cloud solutions to resolve their customer’s business challenges. Strategic’s customer base includes The United States DOD and Civilian Agencies, and many Fortune 500 companies. Strategic was awarded a multitude of government contracts including NASA SEWP V, NITAAC CIO-CS, SPAWAR, SEAPORT-E, SOCOM, Centcom, AFRL, MCNOSC, UHUHS, GITM, NAVALWARFARE, NASPO ValuePoint, and many others. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at http://www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.


News Article | February 15, 2017
Site: www.marketwired.com

LAS VEGAS, NV--(Marketwired - Feb 8, 2017) - Her Imports ( : EZJRD), a leading retailer of human hair extensions and related beauty products, today announced that it has retained KCSA Strategic Communications, a leading New York-based communications firm, to lead the Company's strategic communications and investor relations programs. KCSA intends to deploy an investor relations campaign designed to increase awareness of Her Imports among the investment community through a comprehensive communications strategy. KCSA's objectives include, among others, communications, strategy and introductions to the institutional investment community. Since KCSA's inception nearly fifty years ago, the firm has developed a strong reputation for its work representing public companies. Barry Hall, Chief Executive Officer of Her Imports, stated, "We are eager to begin working with the entire KCSA team on strategic communications and investor relations. Management and the Board of Directors believe that now is the right time to engage a top tier communications firm to assist us in presenting our opportunity to the investment community. Her Imports is gaining more traction everyday with our products and services and we want to proactively communicate this story on a national scale." Todd Fromer, Managing Partner of KCSA Strategic Communications, commented, "With an extensive history of providing expert strategic communications and our established network of investors, we believe KCSA is the right firm to focus Her Imports' communication strategy and help tell this compelling story to key institutional investors. We are pleased to implement this communications plan based on best practices for Her Imports." About KCSA Strategic Communications: KCSA is a fully integrated communications agency specializing in public relations, investor relations and social media, with expertise in financial and professional services, technology, healthcare, digital media and energy. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm's clients are its best references. For more information, please visit www.kcsa.com. About Her Imports: Her Imports sells human hair extensions and related hair-care and beauty products at retail locations throughout the U.S. and on our Website, www.herimports.com. Additionally, by way of our proprietary eCommerce platform and strategic leveraging of social media buys, we convert prospects into customers while developing long-term personal relationships and loyal customers. Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of EZJR, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. EZJR, Inc. assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by applicable securities laws. For more information, please refer to EZJR, Inc.'s financial statements as filed with the Securities and Exchange Commission.


News Article | February 15, 2017
Site: globenewswire.com

WASHINGTON D.C., Feb. 15, 2017 (GLOBE NEWSWIRE) -- The U.S. Chamber of Commerce’s U.S.-Africa Business Center Tuesday hosted the Nigerian Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah (www.FMITI.gov.ng) for a roundtable discussion with U.S. business executives at their office in Washington, D.C. The conversation focused on enhancing trade and investment relationship between both countries. This comes in the context of a telephone call between President Muhammadu Buhari and President Donald Trump Monday, where both Presidents discussed security and economic issues. It is seen as suggesting the U.S. consideration of Nigeria as a strategic partner. “The U.S. has historically been one of Nigeria’s top trading partners; it was the biggest importer of Nigeria’s crude oil at some point. In the last five years, however, the sharp decline in U.S. imports of our crude, on account of rising domestic production of shale, has altered the trade balance between our two countries. This development presents Nigeria with a good opportunity for diversification and to explore and increase non-oil export – especially in agricultural products, services and the digital economy,” said Minister Enelamah. On his part, the President of the U.S.-Africa Business Center and Vice President for African Affairs at the Chamber Scott Eisner, stated that, “With the largest economy in Africa, Nigeria is an important partner for U.S. businesses. Our conversation highlighted the work being done to strengthen the economic relationship between our two countries and how we can continue to build on this relationship.” Enelamah also participated in a Facebook Live conversation with the U.S.-Africa Business Center following the roundtable. Some of the companies that attended the gathering include Google, Microsoft, Blackstone, Procter and Gamble, UPS, Johnson and Johnson, Boston Scientific, Philip Morris International, Lekoil Oil, ITIC, etc. The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 70 regional and policy experts and 25 country-and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad. The U.S.-Africa Business Center is the preeminent voice in the global business community advocating for increased trade between the United States and Africa. After the roundtable, the Minister went on to attend events focusing on the Ease of Doing Business and Investment at the Center for Strategic and International Studies (CSIS) and the Hudson Institute. He answered questions from a mixed audience of business executives, government officials, diplomats and others. He similarly had meetings at the State Department with the outgoing Assistant Secretary of State for African Affairs Linda Thomas Greenfield and U.S. Trade Representatives for Africa at the Commerce office. Issues on the agenda at the state department ranged from the Africa Growth and Opportunity Act (AGOA), SMEs, Nigeria’s leadership on the Continent and continued engagement with the new administration, while the commerce office focused on trade and the WTO. Minister Enelamah was accompanied by his Trade Adviser and Chief Negotiator Ambassador Chiedu Osakwe, Special Adviser Bunmi Adeoye and Strategic Communications Adviser, Constance C. Ikokwu. Distributed by APO on behalf of Federal Ministry of Industry, Trade & Investment, Nigeria.


News Article | February 28, 2017
Site: globenewswire.com

WASHINGTON, Feb. 28, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today released its financial results for the fourth quarter and full year ended December 31, 2016. Commenting on these results, Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “2016 was a superb year for FTI Consulting. We delivered record revenues in Economic Consulting and Corporate Finance & Restructuring, and had another year of strong performance in Strategic Communications. And our EMEA region is benefitting from our multi-year commitment to grow our global platform, delivering record revenues and continuing to grow headcount substantially.” For the full year 2016, revenues increased 1.8% to $1.81 billion compared to $1.78 billion in the prior year. Excluding the estimated negative impact of foreign currency translation (“FX”), revenues increased 3.6% compared to the prior year. The increase in revenues was driven by broad-based higher demand across the Economic Consulting segment and higher demand for restructuring services in the Corporate Finance & Restructuring segment. This strength was partially offset by reduced demand in the Technology and Forensic and Litigation Consulting segments. Net income increased 29.5% to $85.5 million compared to $66.1 million in the prior year. Adjusted EBITDA was $203.0 million, or 11.2% of revenues, compared to $205.8 million, or 11.6% of revenues, in the prior year. Adjusted EBITDA growth in the Economic Consulting, Corporate Finance & Restructuring and Strategic Communications segments was more than offset by Adjusted EBITDA declines in the Technology and Forensic and Litigation Consulting segments and higher corporate costs. The decline in Adjusted EBITDA and Adjusted EBITDA Margin was also impacted by higher costs primarily from higher compensation related to an increase in aggregate headcount, which was not sufficiently offset by higher revenues. Full year 2016 fully diluted earnings per share (“EPS”) were $2.05 compared to $1.58 in the prior year. Full year 2015 EPS included a $19.6 million debt extinguishment charge, which reduced EPS by $0.28. Full year 2016 EPS included: Full year 2016 Adjusted EPS were $2.24 compared to $1.84 in the prior year. Adjusted EPS in 2016 excludes the $10.4 million special charge related to headcount reductions and a $1.4 million fair value adjustment for an acquisition contingent consideration liability. Cash and cash equivalents were $216.2 million at December 31, 2016, compared to $149.8 million at December 31, 2015. In 2016, the Company spent $21.5 million to repurchase 537,400 shares of its common stock at an average price of $39.97. As of December 31, 2016, approximately $81.4 million remained available under the Company’s $100.0 million share repurchase authorization. The Company reduced the balance drawn on its credit facility by $130.0 million during 2016. Total debt of $370.0 million at December 31, 2016 compares to total debt of $500.0 million at December 31, 2015. Total debt, net of cash, was $153.8 million at December 31, 2016, down from $350.2 million at December 31, 2015. Fourth quarter 2016 revenues of $441.9 million compared to revenues of $442.2 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased 2.6% compared to the prior year quarter. Excluding FX, the increase in revenues was primarily driven by higher demand for mergers and acquisition (“M&A”) related antitrust services in the Economic Consulting segment, which was partially offset by lower demand in the dispute advisory and health solutions practices within the Forensic and Litigation Consulting segment. Net income of $7.1 million decreased 31.4% compared to $10.3 million in the prior year quarter. Adjusted EBITDA was $30.3 million, or 6.9% of revenues, compared to $35.2 million, or 8.0% of revenues in the prior year quarter. The decline in Adjusted EBITDA was due to higher compensation related to increased headcount in the Corporate Finance & Restructuring segment and lower demand in the Forensic and Litigation Consulting segment. Fourth quarter 2016 EPS were $0.17 compared to $0.25 in the prior year quarter. Fourth quarter 2016 EPS included a special charge of $3.6 million related to headcount reductions and a $3.8 million write-down of capitalized software. These charges were partially offset by a $3.7 million reduction in income tax expense. Fourth quarter 2016 Adjusted EPS of $0.24 were the same as the prior year quarter. Adjusted EPS excludes the impact of the $3.6 million special charge related to headcount reductions. Corporate Finance & Restructuring Revenues in the Corporate Finance & Restructuring segment increased $1.8 million, or 1.6%, to $113.4 million in the quarter compared to $111.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.4 million, or 3.9%, compared to the prior year quarter. The increase in revenues were primarily due to higher realized pricing for restructuring services and higher success fees, which was partially offset by lower demand. Adjusted Segment EBITDA was $16.3 million, or 14.4% of segment revenues, compared to $18.9 million, or 17.0% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to higher compensation costs, which were partially offset by lower bad debt expense and increased revenues. Forensic and Litigation Consulting Revenues in the Forensic and Litigation Consulting segment decreased $11.2 million, or 9.6%, to $105.5 million in the quarter compared to $116.7 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $9.8 million, or 8.4%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand in the segment’s dispute advisory and health solutions practices. Adjusted Segment EBITDA was $6.3 million, or 6.0% of segment revenues, compared to $8.8 million, or 7.5% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions in the health solutions practice. Economic Consulting Revenues in the Economic Consulting segment increased $10.7 million, or 9.0%, to $129.3 million in the quarter compared to $118.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $15.0 million, or 12.6%, compared to the prior year quarter. The increase in revenues was driven primarily by higher demand for M&A-related antitrust services. Adjusted Segment EBITDA was $19.0 million, or 14.7% of segment revenues, compared to $18.8 million, or 15.9% of segment revenues, in the prior year quarter. Adjusted Segment EBITDA was up only slightly from the prior year quarter as the increase in revenues was partially offset by higher compensation costs, primarily related to an increase in professionals and shifts in business mix. Technology Revenues in the Technology segment decreased $3.1 million, or 6.6%, to $43.5 million in the quarter compared to $46.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $2.3 million, or 4.8%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand and lower realized pricing for M&A-related “second request” and litigation services. Adjusted Segment EBITDA was $5.6 million, or 12.8% of segment revenues, compared to $6.0 million, or 12.8% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions taken in 2016. Strategic Communications Revenues in the Strategic Communications segment increased $1.6 million or 3.2%, to $50.3 million in the quarter compared to $48.8 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.3 million, or 8.8%, compared to the prior year quarter. The increase in revenues was primarily due to higher project-based revenues in the Europe, Middle East and Africa (“EMEA”) region, driven by public affairs and financial communications engagements. Adjusted Segment EBITDA was $8.4 million, or 16.7% of segment revenues, compared to $7.6 million, or 15.6% of segment revenues, in the prior year quarter. The increase in Adjusted Segment EBITDA was due to the increase in revenues, which were partially offset by higher compensation costs, primarily related to an increase in professionals. 2017 Guidance The Company estimates that revenues for 2017 will range between $1.80 billion and $1.90 billion. The Company estimates that EPS will range between $1.95 and $2.30 and that Adjusted EPS will range between $2.10 and $2.40. The variance between EPS and Adjusted EPS guidance for 2017 is related to estimated lease cancellation charges of $0.10 to $0.15 per share for the move of the Company’s Washington, D.C., office to another Washington, D.C., office location. The Company’s guidance assumes the completion of the remaining $81.4 million of its $100.0 million share repurchase authorization in 2017, which will be dependent on fluctuations in the price per share of the Company’s common stock, the timing of stock repurchases, market conditions and other future events that may be beyond the Company’s control. Fourth Quarter and Full Year 2016 Conference Call FTI Consulting will host a conference call for analysts and investors to discuss fourth quarter and full year 2016 financial results at 9:00 a.m. Eastern Time on February 28, 2017. The call can be accessed live and will be available for replay over the Internet for 90 days by logging onto the Company's investor relations website here. 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. More information can be found at www.fticonsulting.com. We have included the definitions of Segment Operating Income (Loss) and Adjusted Segment EBITDA below in order to more fully define the components of certain non-GAAP financial measures presented in this earnings release. We define Segment Operating Income (Loss) as a segment’s share of Consolidated Operating Income (Loss). We define Total Segment Operating Income (Loss), which is a non-GAAP financial measure, as the total of Segment Operating Income (Loss) for all segments, which excludes unallocated corporate expenses. We use Segment Operating Income (Loss) for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of Consolidated Operating Income (Loss) before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. We define Adjusted Segment EBITDA Margin as Adjusted Segment EBITDA as a percentage of a segment’s revenues. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We believe that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges, when considered together with our GAAP financial results and GAAP measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that these measures, considered along with corresponding GAAP measures, provide management and investors with additional information for comparison of our operating results with the operating results of other companies. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share, respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that this non-GAAP financial measure, which excludes the effects of the remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt, when considered together with our GAAP financial results, provides management and investors with an additional understanding of our business operating results, including underlying trends. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release. Safe Harbor Statement This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions, share repurchases and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes,” "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will be achieved, and the Company's actual results may differ materially from our expectations, beliefs and estimates. Further, preliminary results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, adverse financial, real estate, fluctuations in the price per share of our common stock, other market and general economic conditions and other future events, which could impact each of our segments differently and could be outside of our control, the pace and timing of the consummation and integration of future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading "Item 1A Risk Factors" in the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC, including the risks set forth under "Risks Related to Our Reportable Segments" and "Risks Related to Our Operations". We are under no duty to update any of the forward looking statements to conform such statements to actual results or events and do not intend to do so.


News Article | February 28, 2017
Site: globenewswire.com

WASHINGTON, Feb. 28, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today released its financial results for the fourth quarter and full year ended December 31, 2016. Commenting on these results, Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “2016 was a superb year for FTI Consulting. We delivered record revenues in Economic Consulting and Corporate Finance & Restructuring, and had another year of strong performance in Strategic Communications. And our EMEA region is benefitting from our multi-year commitment to grow our global platform, delivering record revenues and continuing to grow headcount substantially.” For the full year 2016, revenues increased 1.8% to $1.81 billion compared to $1.78 billion in the prior year. Excluding the estimated negative impact of foreign currency translation (“FX”), revenues increased 3.6% compared to the prior year. The increase in revenues was driven by broad-based higher demand across the Economic Consulting segment and higher demand for restructuring services in the Corporate Finance & Restructuring segment. This strength was partially offset by reduced demand in the Technology and Forensic and Litigation Consulting segments. Net income increased 29.5% to $85.5 million compared to $66.1 million in the prior year. Adjusted EBITDA was $203.0 million, or 11.2% of revenues, compared to $205.8 million, or 11.6% of revenues, in the prior year. Adjusted EBITDA growth in the Economic Consulting, Corporate Finance & Restructuring and Strategic Communications segments was more than offset by Adjusted EBITDA declines in the Technology and Forensic and Litigation Consulting segments and higher corporate costs. The decline in Adjusted EBITDA and Adjusted EBITDA Margin was also impacted by higher costs primarily from higher compensation related to an increase in aggregate headcount, which was not sufficiently offset by higher revenues. Full year 2016 fully diluted earnings per share (“EPS”) were $2.05 compared to $1.58 in the prior year. Full year 2015 EPS included a $19.6 million debt extinguishment charge, which reduced EPS by $0.28. Full year 2016 EPS included: Full year 2016 Adjusted EPS were $2.24 compared to $1.84 in the prior year. Adjusted EPS in 2016 excludes the $10.4 million special charge related to headcount reductions and a $1.4 million fair value adjustment for an acquisition contingent consideration liability. Cash and cash equivalents were $216.2 million at December 31, 2016, compared to $149.8 million at December 31, 2015. In 2016, the Company spent $21.5 million to repurchase 537,400 shares of its common stock at an average price of $39.97. As of December 31, 2016, approximately $81.4 million remained available under the Company’s $100.0 million share repurchase authorization. The Company reduced the balance drawn on its credit facility by $130.0 million during 2016. Total debt of $370.0 million at December 31, 2016 compares to total debt of $500.0 million at December 31, 2015. Total debt, net of cash, was $153.8 million at December 31, 2016, down from $350.2 million at December 31, 2015. Fourth quarter 2016 revenues of $441.9 million compared to revenues of $442.2 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased 2.6% compared to the prior year quarter. Excluding FX, the increase in revenues was primarily driven by higher demand for mergers and acquisition (“M&A”) related antitrust services in the Economic Consulting segment, which was partially offset by lower demand in the dispute advisory and health solutions practices within the Forensic and Litigation Consulting segment. Net income of $7.1 million decreased 31.4% compared to $10.3 million in the prior year quarter. Adjusted EBITDA was $30.3 million, or 6.9% of revenues, compared to $35.2 million, or 8.0% of revenues in the prior year quarter. The decline in Adjusted EBITDA was due to higher compensation related to increased headcount in the Corporate Finance & Restructuring segment and lower demand in the Forensic and Litigation Consulting segment. Fourth quarter 2016 EPS were $0.17 compared to $0.25 in the prior year quarter. Fourth quarter 2016 EPS included a special charge of $3.6 million related to headcount reductions and a $3.8 million write-down of capitalized software. These charges were partially offset by a $3.7 million reduction in income tax expense. Fourth quarter 2016 Adjusted EPS of $0.24 were the same as the prior year quarter. Adjusted EPS excludes the impact of the $3.6 million special charge related to headcount reductions. Corporate Finance & Restructuring Revenues in the Corporate Finance & Restructuring segment increased $1.8 million, or 1.6%, to $113.4 million in the quarter compared to $111.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.4 million, or 3.9%, compared to the prior year quarter. The increase in revenues were primarily due to higher realized pricing for restructuring services and higher success fees, which was partially offset by lower demand. Adjusted Segment EBITDA was $16.3 million, or 14.4% of segment revenues, compared to $18.9 million, or 17.0% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to higher compensation costs, which were partially offset by lower bad debt expense and increased revenues. Forensic and Litigation Consulting Revenues in the Forensic and Litigation Consulting segment decreased $11.2 million, or 9.6%, to $105.5 million in the quarter compared to $116.7 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $9.8 million, or 8.4%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand in the segment’s dispute advisory and health solutions practices. Adjusted Segment EBITDA was $6.3 million, or 6.0% of segment revenues, compared to $8.8 million, or 7.5% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions in the health solutions practice. Economic Consulting Revenues in the Economic Consulting segment increased $10.7 million, or 9.0%, to $129.3 million in the quarter compared to $118.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $15.0 million, or 12.6%, compared to the prior year quarter. The increase in revenues was driven primarily by higher demand for M&A-related antitrust services. Adjusted Segment EBITDA was $19.0 million, or 14.7% of segment revenues, compared to $18.8 million, or 15.9% of segment revenues, in the prior year quarter. Adjusted Segment EBITDA was up only slightly from the prior year quarter as the increase in revenues was partially offset by higher compensation costs, primarily related to an increase in professionals and shifts in business mix. Technology Revenues in the Technology segment decreased $3.1 million, or 6.6%, to $43.5 million in the quarter compared to $46.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $2.3 million, or 4.8%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand and lower realized pricing for M&A-related “second request” and litigation services. Adjusted Segment EBITDA was $5.6 million, or 12.8% of segment revenues, compared to $6.0 million, or 12.8% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions taken in 2016. Strategic Communications Revenues in the Strategic Communications segment increased $1.6 million or 3.2%, to $50.3 million in the quarter compared to $48.8 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.3 million, or 8.8%, compared to the prior year quarter. The increase in revenues was primarily due to higher project-based revenues in the Europe, Middle East and Africa (“EMEA”) region, driven by public affairs and financial communications engagements. Adjusted Segment EBITDA was $8.4 million, or 16.7% of segment revenues, compared to $7.6 million, or 15.6% of segment revenues, in the prior year quarter. The increase in Adjusted Segment EBITDA was due to the increase in revenues, which were partially offset by higher compensation costs, primarily related to an increase in professionals. 2017 Guidance The Company estimates that revenues for 2017 will range between $1.80 billion and $1.90 billion. The Company estimates that EPS will range between $1.95 and $2.30 and that Adjusted EPS will range between $2.10 and $2.40. The variance between EPS and Adjusted EPS guidance for 2017 is related to estimated lease cancellation charges of $0.10 to $0.15 per share for the move of the Company’s Washington, D.C., office to another Washington, D.C., office location. The Company’s guidance assumes the completion of the remaining $81.4 million of its $100.0 million share repurchase authorization in 2017, which will be dependent on fluctuations in the price per share of the Company’s common stock, the timing of stock repurchases, market conditions and other future events that may be beyond the Company’s control. Fourth Quarter and Full Year 2016 Conference Call FTI Consulting will host a conference call for analysts and investors to discuss fourth quarter and full year 2016 financial results at 9:00 a.m. Eastern Time on February 28, 2017. The call can be accessed live and will be available for replay over the Internet for 90 days by logging onto the Company's investor relations website here. 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. More information can be found at www.fticonsulting.com. We have included the definitions of Segment Operating Income (Loss) and Adjusted Segment EBITDA below in order to more fully define the components of certain non-GAAP financial measures presented in this earnings release. We define Segment Operating Income (Loss) as a segment’s share of Consolidated Operating Income (Loss). We define Total Segment Operating Income (Loss), which is a non-GAAP financial measure, as the total of Segment Operating Income (Loss) for all segments, which excludes unallocated corporate expenses. We use Segment Operating Income (Loss) for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of Consolidated Operating Income (Loss) before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. We define Adjusted Segment EBITDA Margin as Adjusted Segment EBITDA as a percentage of a segment’s revenues. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We believe that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges, when considered together with our GAAP financial results and GAAP measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that these measures, considered along with corresponding GAAP measures, provide management and investors with additional information for comparison of our operating results with the operating results of other companies. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share, respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that this non-GAAP financial measure, which excludes the effects of the remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt, when considered together with our GAAP financial results, provides management and investors with an additional understanding of our business operating results, including underlying trends. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release. Safe Harbor Statement This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions, share repurchases and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes,” "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will be achieved, and the Company's actual results may differ materially from our expectations, beliefs and estimates. Further, preliminary results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, adverse financial, real estate, fluctuations in the price per share of our common stock, other market and general economic conditions and other future events, which could impact each of our segments differently and could be outside of our control, the pace and timing of the consummation and integration of future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading "Item 1A Risk Factors" in the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC, including the risks set forth under "Risks Related to Our Reportable Segments" and "Risks Related to Our Operations". We are under no duty to update any of the forward looking statements to conform such statements to actual results or events and do not intend to do so.


News Article | February 28, 2017
Site: globenewswire.com

WASHINGTON, Feb. 28, 2017 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN) today released its financial results for the fourth quarter and full year ended December 31, 2016. Commenting on these results, Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “2016 was a superb year for FTI Consulting. We delivered record revenues in Economic Consulting and Corporate Finance & Restructuring, and had another year of strong performance in Strategic Communications. And our EMEA region is benefitting from our multi-year commitment to grow our global platform, delivering record revenues and continuing to grow headcount substantially.” For the full year 2016, revenues increased 1.8% to $1.81 billion compared to $1.78 billion in the prior year. Excluding the estimated negative impact of foreign currency translation (“FX”), revenues increased 3.6% compared to the prior year. The increase in revenues was driven by broad-based higher demand across the Economic Consulting segment and higher demand for restructuring services in the Corporate Finance & Restructuring segment. This strength was partially offset by reduced demand in the Technology and Forensic and Litigation Consulting segments. Net income increased 29.5% to $85.5 million compared to $66.1 million in the prior year. Adjusted EBITDA was $203.0 million, or 11.2% of revenues, compared to $205.8 million, or 11.6% of revenues, in the prior year. Adjusted EBITDA growth in the Economic Consulting, Corporate Finance & Restructuring and Strategic Communications segments was more than offset by Adjusted EBITDA declines in the Technology and Forensic and Litigation Consulting segments and higher corporate costs. The decline in Adjusted EBITDA and Adjusted EBITDA Margin was also impacted by higher costs primarily from higher compensation related to an increase in aggregate headcount, which was not sufficiently offset by higher revenues. Full year 2016 fully diluted earnings per share (“EPS”) were $2.05 compared to $1.58 in the prior year. Full year 2015 EPS included a $19.6 million debt extinguishment charge, which reduced EPS by $0.28. Full year 2016 EPS included: Full year 2016 Adjusted EPS were $2.24 compared to $1.84 in the prior year. Adjusted EPS in 2016 excludes the $10.4 million special charge related to headcount reductions and a $1.4 million fair value adjustment for an acquisition contingent consideration liability. Cash and cash equivalents were $216.2 million at December 31, 2016, compared to $149.8 million at December 31, 2015. In 2016, the Company spent $21.5 million to repurchase 537,400 shares of its common stock at an average price of $39.97. As of December 31, 2016, approximately $81.4 million remained available under the Company’s $100.0 million share repurchase authorization. The Company reduced the balance drawn on its credit facility by $130.0 million during 2016. Total debt of $370.0 million at December 31, 2016 compares to total debt of $500.0 million at December 31, 2015. Total debt, net of cash, was $153.8 million at December 31, 2016, down from $350.2 million at December 31, 2015. Fourth quarter 2016 revenues of $441.9 million compared to revenues of $442.2 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased 2.6% compared to the prior year quarter. Excluding FX, the increase in revenues was primarily driven by higher demand for mergers and acquisition (“M&A”) related antitrust services in the Economic Consulting segment, which was partially offset by lower demand in the dispute advisory and health solutions practices within the Forensic and Litigation Consulting segment. Net income of $7.1 million decreased 31.4% compared to $10.3 million in the prior year quarter. Adjusted EBITDA was $30.3 million, or 6.9% of revenues, compared to $35.2 million, or 8.0% of revenues in the prior year quarter. The decline in Adjusted EBITDA was due to higher compensation related to increased headcount in the Corporate Finance & Restructuring segment and lower demand in the Forensic and Litigation Consulting segment. Fourth quarter 2016 EPS were $0.17 compared to $0.25 in the prior year quarter. Fourth quarter 2016 EPS included a special charge of $3.6 million related to headcount reductions and a $3.8 million write-down of capitalized software. These charges were partially offset by a $3.7 million reduction in income tax expense. Fourth quarter 2016 Adjusted EPS of $0.24 were the same as the prior year quarter. Adjusted EPS excludes the impact of the $3.6 million special charge related to headcount reductions. Corporate Finance & Restructuring Revenues in the Corporate Finance & Restructuring segment increased $1.8 million, or 1.6%, to $113.4 million in the quarter compared to $111.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.4 million, or 3.9%, compared to the prior year quarter. The increase in revenues were primarily due to higher realized pricing for restructuring services and higher success fees, which was partially offset by lower demand. Adjusted Segment EBITDA was $16.3 million, or 14.4% of segment revenues, compared to $18.9 million, or 17.0% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to higher compensation costs, which were partially offset by lower bad debt expense and increased revenues. Forensic and Litigation Consulting Revenues in the Forensic and Litigation Consulting segment decreased $11.2 million, or 9.6%, to $105.5 million in the quarter compared to $116.7 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $9.8 million, or 8.4%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand in the segment’s dispute advisory and health solutions practices. Adjusted Segment EBITDA was $6.3 million, or 6.0% of segment revenues, compared to $8.8 million, or 7.5% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions in the health solutions practice. Economic Consulting Revenues in the Economic Consulting segment increased $10.7 million, or 9.0%, to $129.3 million in the quarter compared to $118.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $15.0 million, or 12.6%, compared to the prior year quarter. The increase in revenues was driven primarily by higher demand for M&A-related antitrust services. Adjusted Segment EBITDA was $19.0 million, or 14.7% of segment revenues, compared to $18.8 million, or 15.9% of segment revenues, in the prior year quarter. Adjusted Segment EBITDA was up only slightly from the prior year quarter as the increase in revenues was partially offset by higher compensation costs, primarily related to an increase in professionals and shifts in business mix. Technology Revenues in the Technology segment decreased $3.1 million, or 6.6%, to $43.5 million in the quarter compared to $46.6 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues decreased $2.3 million, or 4.8%, compared to the prior year quarter. The decrease in revenues was primarily due to lower demand and lower realized pricing for M&A-related “second request” and litigation services. Adjusted Segment EBITDA was $5.6 million, or 12.8% of segment revenues, compared to $6.0 million, or 12.8% of segment revenues, in the prior year quarter. The decline in Adjusted Segment EBITDA was due to lower revenues, which were partially offset by lower compensation costs resulting from headcount reductions taken in 2016. Strategic Communications Revenues in the Strategic Communications segment increased $1.6 million or 3.2%, to $50.3 million in the quarter compared to $48.8 million in the prior year quarter. Excluding the estimated negative impact of FX, revenues increased $4.3 million, or 8.8%, compared to the prior year quarter. The increase in revenues was primarily due to higher project-based revenues in the Europe, Middle East and Africa (“EMEA”) region, driven by public affairs and financial communications engagements. Adjusted Segment EBITDA was $8.4 million, or 16.7% of segment revenues, compared to $7.6 million, or 15.6% of segment revenues, in the prior year quarter. The increase in Adjusted Segment EBITDA was due to the increase in revenues, which were partially offset by higher compensation costs, primarily related to an increase in professionals. 2017 Guidance The Company estimates that revenues for 2017 will range between $1.80 billion and $1.90 billion. The Company estimates that EPS will range between $1.95 and $2.30 and that Adjusted EPS will range between $2.10 and $2.40. The variance between EPS and Adjusted EPS guidance for 2017 is related to estimated lease cancellation charges of $0.10 to $0.15 per share for the move of the Company’s Washington, D.C., office to another Washington, D.C., office location. The Company’s guidance assumes the completion of the remaining $81.4 million of its $100.0 million share repurchase authorization in 2017, which will be dependent on fluctuations in the price per share of the Company’s common stock, the timing of stock repurchases, market conditions and other future events that may be beyond the Company’s control. Fourth Quarter and Full Year 2016 Conference Call FTI Consulting will host a conference call for analysts and investors to discuss fourth quarter and full year 2016 financial results at 9:00 a.m. Eastern Time on February 28, 2017. The call can be accessed live and will be available for replay over the Internet for 90 days by logging onto the Company's investor relations website here. 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. More information can be found at www.fticonsulting.com. We have included the definitions of Segment Operating Income (Loss) and Adjusted Segment EBITDA below in order to more fully define the components of certain non-GAAP financial measures presented in this earnings release. We define Segment Operating Income (Loss) as a segment’s share of Consolidated Operating Income (Loss). We define Total Segment Operating Income (Loss), which is a non-GAAP financial measure, as the total of Segment Operating Income (Loss) for all segments, which excludes unallocated corporate expenses. We use Segment Operating Income (Loss) for the purpose of calculating Adjusted Segment EBITDA. We define Adjusted Segment EBITDA as a segment’s share of Consolidated Operating Income (Loss) before depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges. We use Adjusted Segment EBITDA as a basis to internally evaluate the financial performance of our segments because we believe it reflects current core operating performance and provides an indicator of the segment’s ability to generate cash. We define Adjusted Segment EBITDA Margin as Adjusted Segment EBITDA as a percentage of a segment’s revenues. We define Total Adjusted Segment EBITDA, which is a non-GAAP financial measure, as the total of Adjusted Segment EBITDA for all segments, which excludes unallocated corporate expenses. We define Adjusted EBITDA, which is a non-GAAP financial measure, as consolidated net income before income tax provision, other non-operating income (expense), depreciation, amortization of intangible assets, remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We believe that the non-GAAP financial measures, which exclude the effects of remeasurement of acquisition-related contingent consideration, special charges and goodwill impairment charges, when considered together with our GAAP financial results and GAAP measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry. Therefore, we also believe that these measures, considered along with corresponding GAAP measures, provide management and investors with additional information for comparison of our operating results with the operating results of other companies. We define Adjusted Net Income and Adjusted Earnings per Diluted Share (“Adjusted EPS”), which are non-GAAP financial measures, as net income and earnings per diluted share, respectively, excluding the impact of remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt. We use Adjusted Net Income for the purpose of calculating Adjusted EPS. Management uses Adjusted EPS to assess total Company operating performance on a consistent basis. We believe that this non-GAAP financial measure, which excludes the effects of the remeasurement of acquisition-related contingent consideration, special charges, goodwill impairment charges and losses on early extinguishment of debt, when considered together with our GAAP financial results, provides management and investors with an additional understanding of our business operating results, including underlying trends. Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Condensed Consolidated Statements of Comprehensive Income. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release. Safe Harbor Statement This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions, share repurchases and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes,” "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and estimates will be achieved, and the Company's actual results may differ materially from our expectations, beliefs and estimates. Further, preliminary results are subject to normal year-end adjustments. The Company has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of services and products that we offer, the mix of the geographic locations where our clients are located or where services are performed, adverse financial, real estate, fluctuations in the price per share of our common stock, other market and general economic conditions and other future events, which could impact each of our segments differently and could be outside of our control, the pace and timing of the consummation and integration of future acquisitions, the Company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading "Item 1A Risk Factors" in the Company's most recent Form 10-K filed with the SEC and in the Company's other filings with the SEC, including the risks set forth under "Risks Related to Our Reportable Segments" and "Risks Related to Our Operations". We are under no duty to update any of the forward looking statements to conform such statements to actual results or events and do not intend to do so.


Grant
Agency: Cordis | Branch: H2020 | Program: CSA | Phase: DRS-04-2014 | Award Amount: 1.38M | Year: 2015

The European Union (EU) faces a growing health security threat posed by pandemics due to the convergence of risk factors driving disease emergence, amplification and dissemination of pathogens with pandemic potential. Protecting the health and security of citizens in the EU in the face of these pandemic threats requires a coherent response by all stakeholders driven by effective pandemic risk management. PANDEM will contribute to the reduction in the health, socio-economic and security consequences of future pandemics so that society will be better prepared at regional, national, EU and global level. PANDEM will assess current pandemic preparedness and response tools, systems and practice at national, EU and global level in priority areas including risk assessment and surveillance, communication and public information, governance and legal frameworks. PANDEM will then identify gaps and improvement needs leading to the development of viable innovative concepts and analysis of the feasibility of a future demonstration project to strengthen capacity-building for pandemic risk management in the EU. PANDEM specifically addresses the needs and priorities detailed in the Horizon 2020 Work Programme crisis management topic DRS-4. PANDEM will focus on the needs and requirements of users and first responders across the spectrum of pandemic risk management. PANDEM will bring together highly skilled and multi-disciplinary senior experts from the health, security, defence, microbiology, communications, information technology and emergency management fields. Given the cross-border and multi-sectoral context of the health and security challenge for building pandemic risk management capacity, a systems-based methodology will be applied and the final outcome will be developed for use in a pan-European setting.


News Article | February 28, 2017
Site: www.prnewswire.com

NEW YORK, Feb. 28, 2017 /PRNewswire/ -- KCSA Strategic Communications, a leading New York-based communications firm, announced today that it has been selected to lead the investor relations program for Marina Biotech, Inc. (OTCQB: MRNA), a biopharmaceutical company focused on the...

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