Navigant Consulting Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
For the year, the company announced total revenues of $1,032,327,000 compared to $1,034,480,000 for the same period a year ago. Operating income was $76,125,000 compared to $96,736,000 for the same period a year ago. Income before income tax expense was $70,581,000 compared to $93,411,000 for the same period a year ago. Net income was $74,952,000 or $1.55 per diluted share compared to $58,098,000 or $1.19 per diluted share for the same period a year ago. Net cash provided by operating activities was $104,235,000 compared to $110,027,000 for the same period a year ago. Purchases of property and equipment were $38,650,000 compared to $28,665,000 for the same period a year ago. EBITDA was $114,012,000 compared to $136,018,000 for the same period a year ago. Adjusted EBITDA was $125,838,000 compared to $142,290,000 for the same period a year ago. Adjusted net income was $52,520,000 compared to $62,030,000 for the same period a year ago. Adjusted earnings per share were $1.09 compared to $1.27 for the same period a year ago.
The company's management provided full year 2018 financial outlook including RBR guidance of between $940 million and $975 million and adjusted EPS range of between $1.26 and $1.44. Total revenues are estimated to be between $1.030 billion and $1.065 billion. Adjusted EBITDA is expected to range between $125 million and $137 million. Adjusted EPS is estimated to be between $1.26 and $1.44. Capital expenditures is estimated to be approximately $25 million. The company expects free cash flow to range between $75 million and $90 million. The company anticipates an effective tax rate of around 30%, down from the historical rate of around 39%.