ANNAPOLIS, Md., Feb. 11 /PRNewswire-FirstCall/ -- FTI Consulting, Inc.
(NYSE: FCN), the premier national provider of turnaround, bankruptcy and
litigation-related consulting services, today announced that its lead
underwriter, Lehman Brothers, and its co-managers, Banc of America Securities
LLC, Adams, Harkness & Hill, Inc., Janney Montgomery Scott LLC, and SunTrust
Robinson Humphrey, have exercised their overallotment option of 350,030 shares
in connection with the company's recent equity offering. The equity offering
and the exercise of the overallotment option will be completed tomorrow
morning.
The company will use half of the $13.2 million in additional net proceeds
from the overallotment option to repay a portion of its term loan facility.
Outlook for 2003
The company continues to believe that its stated goals of generating 15
percent or greater organic growth in revenues and 20 percent or greater
organic growth in earnings per share for the full-year 2003 compared with
full-year 2002 pro forma results are achievable.
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading
practices in the areas of turnaround, bankruptcy and litigation-related
consulting services. Modern corporations, as well as those who advise and
invest in them, face growing challenges on every front. From a proliferation
of "bet-the-company" litigation to increasingly complicated relationships with
lenders and investors in an ever-changing global economy, U.S. companies are
turning more and more to outside experts and consultants to meet these complex
issues. FTI is dedicated to helping corporations, their advisors, lawyers,
lenders and investors meet these challenges by providing a broad array of the
highest quality professional practices from a single source.
This press release includes "forward-looking" statements that involve
uncertainties and risks. There can be no assurance that actual results will
not differ from the company's expectations. The company has experienced
fluctuating revenues, operating income and cash flow in some prior periods and
expects this may occur from time to time in the future. As a result of these
possible fluctuations, the company's actual results may differ from our
projections. Other factors that could cause such differences include pace and
timing of additional acquisitions, the company's ability to realize cost
savings and efficiencies, competitive and general economic conditions, and
other risks described in the company's filings with the Securities and
Exchange Commission.
FTI is on the Internet at http://www.fticonsulting.com .
SOURCE FTI Consulting, Inc.
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Related links:
http://www.fticonsulting.com
CONTACT:
Jack Dunn, Chairman & CEO of FTI Consulting,
Inc., +1-410-224-1483, or General Inquiries, Marilyn Windsor,
+1-702-515-1260, Analyst Inquiries, Lisa Fortuna,
+1-312-640-6779, or Media Inquiries, Tim Grace, +1-312-640-6667,
all of FRB Weber Shandwick
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