By Bruce Japsen
| Shares of Navigant Consulting Inc. fell nearly 10 percent this morning after the company reported a decline in fourth-quarter profits and revenue amid the tough economy.
The financial and regulatory consultancy said fourth-quarter 2009 profits were $4.8 million, or 10 cents a share, compared with $11.3 million, or 23 cents a share, in the year-ago quarter. Revenue tumbled 10 percent to $173.9 million.
”Despite the challenging economic environment of 2009, we
successfully intensified our client focus, realigned our cost
structure, posted improved operating results as the year progressed and
finished the year with excellent liquidity,” said Navigant chairman and
chief executive officer William Goodyear.
“We identified disputes,
economics, healthcare and energy as key areas for long term growth and
subsequently sharpened our investment focus within these practices.”
