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FTI Consulting's Underwriters Exercise Overallotment Option
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Annapolis, MD - February 11, 2003
ANNAPOLIS, MD, February 11, 2003—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.