HURN » Topics » Acquisitions

This excerpt taken from the HURN 10-K filed Feb 24, 2009.

2007 Acquisitions

 

The following unaudited pro forma financial data gives effect to the acquisitions of Callaway, Wellspring, and Glass as if they had been completed at the beginning of the period presented. The actual results from the acquisition of Callaway have been included within our consolidated financial results since July 29, 2007. The actual results from the acquisitions of Wellspring and Glass have been included within our consolidated financial results since January 2, 2007; therefore 2007 pro forma financial information is not presented.

 

     Historical Huron and
Historical Callaway
   Historical
Huron and
Historical
Wellspring
   Historical
Huron and
Historical
Glass
     2007
Pro forma
   2006
Pro forma
   2006
Pro forma
   2006
Pro forma

Revenues, net of reimbursable expenses

   $ 539,635    $ 361,651    $ 339,573    $ 312,919

Operating income

   $ 87,204    $ 56,980    $ 52,751    $ 51,189

Income before provision for income taxes

   $ 76,648    $ 52,413    $ 49,277    $ 49,191

Net income

   $ 42,581    $ 29,993    $ 28,140    $ 28,089

Earnings per share:

           

Basic

   $ 2.51    $ 1.83    $ 1.72    $ 1.73

Diluted

   $ 2.36    $ 1.73    $ 1.62    $ 1.63

 

This excerpt taken from the HURN 8-K filed Apr 7, 2008.
Acquisitions") in early January, 2007:  (i) acquisition of all of the outstanding capital stock of Wellspring; and (ii) acquisition of all of the outstanding capital stock of Glass.  Pursuant to the First Amendment, the Amended and Restated Revolving Notes dated December 29, 2006 (collectively, the "
These excerpts taken from the HURN 10-K filed Feb 21, 2008.

2007 Acquisitions

 

The following unaudited pro forma financial data gives effect to the acquisitions of Callaway, Wellspring, and Glass as if they had been completed at the beginning of the period presented. The actual results from the acquisition of Callaway have been included within the Company’s consolidated financial results since July 29, 2007. The actual results from the acquisitions of Wellspring and Glass have been included within the Company’s consolidated financial results since January 2, 2007; therefore 2007 pro forma financial information is not presented.

 

     Historical Huron and
Historical Callaway
   Historical
Huron and
Historical
Wellspring
   Historical
Huron and
Historical
Glass
     2007
Pro forma
   2006
Pro forma
   2006
Pro forma
   2006
Pro forma

Revenues, net of reimbursable expenses

   $ 539,635    $ 361,651    $ 339,573    $ 312,919

Operating income

   $ 87,204    $ 56,980    $ 52,751    $ 51,189

Income before provision for income taxes

   $ 76,648    $ 52,413    $ 49,277    $ 49,191

Net income

   $ 42,581    $ 29,993    $ 28,140    $ 28,089

Earnings per share:

           

Basic

   $ 2.51    $ 1.83    $ 1.72    $ 1.73

Diluted

   $ 2.36    $ 1.73    $ 1.62    $ 1.63

 

F-15


Table of Contents

HURON CONSULTING GROUP INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

(Tabular amounts in thousands, except per share amounts)

 

2007 Acquisitions

SIZE="1"> 

The following unaudited pro forma financial data gives effect to the acquisitions of Callaway, Wellspring, and Glass as if they had
been completed at the beginning of the period presented. The actual results from the acquisition of Callaway have been included within the Company’s consolidated financial results since July 29, 2007. The actual results from the
acquisitions of Wellspring and Glass have been included within the Company’s consolidated financial results since January 2, 2007; therefore 2007 pro forma financial information is not presented.

STYLE="margin-top:0px;margin-bottom:0px"> 






































































































































   Historical Huron and
Historical Callaway
  Historical
Huron and
Historical
Wellspring
  Historical
Huron and
Historical
Glass
   2007
Pro forma
  2006
Pro forma
  2006
Pro forma
  2006
Pro forma

Revenues, net of reimbursable expenses

  $539,635  $361,651  $339,573  $312,919

Operating income

  $87,204  $56,980  $52,751  $51,189

Income before provision for income taxes

  $76,648  $52,413  $49,277  $49,191

Net income

  $42,581  $29,993  $28,140  $28,089

Earnings per share:

        

Basic

  $2.51  $1.83  $1.72  $1.73

Diluted

  $2.36  $1.73  $1.62  $1.63

 


F-15







Table of Contents


HURON CONSULTING GROUP INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

FACE="ARIAL" SIZE="2">(Tabular amounts in thousands, except per share amounts)

 

SIZE="2">2006 Acquisition

 

The following unaudited pro forma
financial data gives effect to the acquisition of Galt as if it had been completed at the beginning of the period presented. The actual results from the acquisition of Galt have been included within the Company’s consolidated financial results
since April 3, 2006.

 














































































   Historical Huron and
Historical Galt
   2006
Pro forma
  2005
Pro forma

Revenues, net of reimbursable expenses

  $292,657  $223,335

Operating income

  $49,229  $35,958

Income before provision for income taxes

  $48,329  $35,539

Net income

  $27,590  $19,876

Earnings per share:

    

Basic

  $1.69  $1.26

Diluted

  $1.59  $1.18

 

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