Navigant Consulting Inc. (NCI), a specialized, global expert services firm, recently announced the appointment of Julie M. Howard as its new Chief Executive Officer (CEO), effective from today.
Howard, who earlier served as the president and Chief Operating Officer (COO) of the company, will also join the Navigant board of directors. Howard replaces William M. Goodyear as the CEO of Navigant. Following the management churn, Goodyear will move on to become the Executive Chairman of the Navigant’s board. The financial and regulatory consultancy company believes that the transition will ensure further growth at Navigant.
Howard, 48, has served as President of Navigant since February 2006 and as Chief Operating Officer since 2003. From 2001 to 2003, Ms. Howard held the position of Vice President and Human Capital Officer in the compay. Prior to 2001, Ms. Howard held a variety of consulting and operational positions with several professional services firms. Ms. Howard is a graduate from the University of Wisconsin, with a Bachelor of Science degree in Finance. She has also completed several post-graduate courses under the Harvard Business School Executive Education program, focusing on Finance and Management.
She played a key role in leading the development and implementation of the company’s strategic and operating initiatives and has dedicated a major part of her career in Navigant.
We remain optimistic regarding the appointment of Howard as the CEO of Navigant and expect the company to continue to benefit from her rich experience and leadership qualities.
In the recently concluded fourth quarter of 2011, the company reported strong results. The company reported adjusted earnings per share of 22 cents, comfortably beating the Zacks Consensus Estimate of 19 cents as well as the year-earlier earnings of 15 cents per share. Navigant’s total revenue jumped 7.7% year over year to $197.0 million. Revenues before reimbursements rose 5.7% year over year to $171.0 million.
For full-year 2012, the company expects total revenue in the range of $800 million to $860 million and adjusted earnings per share between 88 and 98 cents.
Navigant’s restructuring activities, construction dispute practice and economics consulting services are delivering well. The number of active engagements remained steady. Additionally, the demand environment remains steady going forward. Navigant witnessed considerable improvement on the margin front. We believe that the company’s inorganic expansion will facilitate long-term growth. Hence, we maintain a Zacks #2 Rank on Navigant, which translates into a short-term Buy rating. Our long-term recommendation remains Outperform.
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