Navigant Consulting 8-K Navigant Reports Third Quarter 2013 Results

Exhibit 99.1

NAVIGANT REPORTS THIRD QUARTER 2013 RESULTS

• Revenues before reimbursements increased 6% to $186.4 million for third quarter 2013 compared to the prior year quarter. Total revenues increased 5% to $211.6 million for third quarter 2013 compared to the prior year quarter.

• Net income from continuing operations for third quarter 2013 increased 21% to $13.5 million or $0.27 per share compared to the prior year quarter. Adjusted EPS for third quarter 2013 increased 9% year over year to $0.25.

• Adjusted EBITDA for third quarter 2013 increased 19% to $30.8 million compared to $26.0 million for the same period in 2012. Adjusted EBITDA margin improved 200 basis points to 17% for third quarter 2013 compared to the same period in 2012.

• Reduced bank debt by 29% from the year earlier level to $110 million at September 30, 2013.

• Repurchased 627,011 shares of common stock in third quarter 2013 at an average price of $13.84 per share.

• Updates 2013 outlook to reflect solid third quarter performance and to reflect financial results reported on a continuing operations basis.

CHICAGO, October 29, 2013 – Navigant (NYSE:NCI) today announced financial results for the third quarter ended September 30, 2013. Unless otherwise indicated, all references are to results from continuing operations which exclude the results from the previously announced July 2013 sale of the United Kingdom portion of Navigant’s financial services advisory business which are presented as discontinued operations. Amounts previously reported have been reclassified to conform to the current presentation.

Navigant reported third quarter 2013 revenues before reimbursements (RBR) of $186.4 million, compared to $176.4 million for third quarter 2012, a 6% increase. The growth in third quarter RBR was driven by a 31% increase in the Healthcare segment and 17% growth in the Financial, Risk & Compliance segment that was partially offset by lower RBR in the Disputes, Investigations & Economics segment. RBR performance in the Energy segment was relatively unchanged from the prior year quarter. Total revenues for the Company were $211.6 million for third quarter 2013, compared to $202.1 million for third quarter 2012, an increase of 5%.

Adjusted EBITDA of $30.8 million for third quarter 2013 rose 19% compared to $26.0 million for third quarter 2012, with an Adjusted EBITDA margin (Adjusted EBITDA as a percentage of RBR) of 17% for third quarter 2013, compared to 15% for the same period in 2012. A 9% increase in segment operating profit and a 100 basis point improvement in general and administrative expenses as a percentage of RBR contributed to the year-over-year growth in margin for the quarter.

Net income from continuing operations for third quarter 2013 was $13.5 million, compared to $11.2 million in the prior year quarter, an increase of 21%. The effective income tax rate was 47% for third quarter 2013 compared to 41% for third quarter 2012, due to a change in the mix of pre-tax income from lower tax rate jurisdictions to higher rate U.S. jurisdictions as well as increased valuation allowances related to losses generated in foreign jurisdictions for which Navigant does not anticipate realizing a benefit in future periods.

Earnings per share (EPS) from continuing operations were $0.27 for third quarter 2013, compared to $0.22 for third quarter 2012, a 23% increase. Adjusted EPS was $0.25 for third quarter 2013, compared to $0.23 for third quarter 2012, a 9% increase.

“Results for the third quarter reflect continued gains in revenue growth and profitability,” commented Julie Howard, Chief Executive Officer. “Our focus on high-growth areas with clearly identifiable catalysts is contributing to a more optimized business portfolio and improved financial performance. In the coming quarters, we expect to further develop existing practices while exploring new areas of growth as we help our clients solve complex issues in highly regulated industries undergoing fundamental change.”

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Segment Financial Highlights

	For the quarter ended September 30,
	2013			2012			Change
RBR ($000)
Disputes, Investigations & Economics	$	75,366		$	82,325			-8.5	%
Financial, Risk & Compliance		40,227			34,431			16.8	%
Healthcare		48,088			36,701			31.0	%
Energy		22,763			22,908			-0.6	%
Total Company	$	186,444		$	176,365			5.7	%
Total Revenues ($000)
Disputes, Investigations & Economics	$	81,144		$	88,984			-8.8	%
Financial, Risk & Compliance		48,668			44,362			9.7	%
Healthcare		53,721			40,957			31.2	%
Energy		28,074			27,827			0.9	%
Total Company	$	211,607		$	202,130			4.7	%
Segment Operating Profit ($000)
Disputes, Investigations & Economics	$	25,738		$	29,000			-11.2	%
Financial, Risk & Compliance		16,959			12,716			33.4	%
Healthcare		17,967			12,315			45.9	%
Energy		6,968			7,837			-11.1	%
Total Company	$	67,632		$	61,868			9.3	%
Segment Operating Margin (% of RBR)
Disputes, Investigations & Economics		34.2	%		35.2	%		-1.0	%
Financial, Risk & Compliance		42.2	%		36.9	%		5.3	%
Healthcare		37.4	%		33.6	%		3.8	%
Energy		30.6	%		34.2	%		-3.6	%
Total Company		36.3	%		35.1	%		1.2	%

Healthcare RBR increased 31% for third quarter 2013 compared to the same quarter of 2012. Healthcare’s organic year-over-year RBR growth rate was 21%. Healthcare reform and transformational changes in the healthcare industry continue to drive strong demand for Navigant’s services. Third quarter 2013 Healthcare segment operating profit increased 46% compared to third quarter 2012 driven by strong growth in RBR and improved operating leverage.

Financial, Risk & Compliance RBR for third quarter 2013 increased 17% compared to the prior year quarter. The strong segment performance reflected growth due to a large compliance engagement related to anti-money laundering regulatory requirements which was partially offset by an anticipated, though smaller-than-expected, decline in RBR from mortgage servicing review engagements. Third quarter 2013 Financial, Risk & Compliance segment operating profit increased 33% compared to third quarter 2012 due to strong RBR growth and strong cost management.

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Energy RBR for third quarter 2013 was relatively unchanged when compared to third quarter 2012. Continued strength in energy efficiency and smart meter related engagements was offset by the short-term disruption to a portion of the Energy segment due to the report issued in June 2013 by the Moreland Commission in New York State. Third quarter 2013 Energy segment operating profit performance reflects the noted short-term RBR disruption.

Disputes, Investigations & Economics RBR declined 9% for third quarter 2013 compared to the same period of 2012. The decrease was primarily attributable to the sale of a portion of the Economics practice earlier this year. Other areas of the segment did not perform at the higher levels needed to offset the decline. Third quarter 2013 Disputes, Investigations & Economics segment operating profit reflects the decline in RBR.

Cash Flow

Free cash flow was $17.3 million for third quarter 2013, consistent with third quarter 2012.

The Company used $18.8 million of cash to pay down debt during third quarter 2013. Debt levels at September 30, 2013 were 29% lower than year earlier levels, reflecting continued strong operating cash flow. Leverage (debt divided by trailing twelve month Adjusted EBITDA) improved to 0.86 at September 30, 2013 compared to 1.55 at September 30, 2012. As of September 30, 2013, the Company had approximately $265 million in additional borrowing capacity under its credit facility. In September 2013, the maturity date of the credit facility was extended through September 2018.

Navigant repurchased 627,011 shares of common stock during third quarter 2013, at an aggregate cost of $8.7 million and average cost of $13.84 per share. As of September 30, 2013, there was $56 million remaining on the Company’s share repurchase authorization.

Lucinda (Cindy) Baier, Executive Vice President and Chief Financial Officer, commented, “We continue to focus on effective capital allocation which includes investment in growth, debt reduction and returning capital to our shareholders through our share repurchase program. Our free cash flows resulting from the growth of our overall business have provided us with the necessary resources to pursue our strategic objectives while still maintaining a strong balance sheet.”

2013 Outlook

Navigant is updating and tightening its outlook for 2013 to reflect its solid third quarter performance and to reflect financial results reported on a continuing operations basis. Full year 2013 RBR is expected to range between $735 and $745 million, which does not include $7 million of RBR from discontinued operations. Total 2013 revenues are estimated to be between $825 and $840 million. Adjusted EBITDA is anticipated to range between $115 and $120 million and Adjusted EPS is estimated to be between $1.00 and $1.05.

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Non-GAAP Financial Information

This press release includes certain non-GAAP financial measures as defined by the Securities and Exchange Commission. Reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles (GAAP) are included in the financial schedules attached to this press release. This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP.

Conference Call Details

Julie Howard and Cindy Baier will host a conference call to discuss the Company’s third quarter 2013 results at 10:00 a.m. Eastern Time on Tuesday, October 29, 2013. The conference call may be accessed via the Navigant website (www.navigant.com/investor_relations) or by dialing 888.593.8430 (312.470.7390 for international callers) and referencing pass code “NCI.” A replay of the web cast will be available for one year. A report of financial and related supplemental information is available atwww.navigant.com/investor_relations.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found atwww.navigant.com.

Statements included in this press release which are not historical in nature are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by words such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “plan,” “outlook” and similar expressions. These statements are based upon management’s current expectations and speak only as of the date of this press release. The Company cautions readers that there may be events in the future that the Company is not able to accurately predict or control and the information contained in the forward-looking statements is inherently uncertain and subject to a number of risks that could cause actual results to differ materially from those contained in or implied by the forward-looking statements including, without limitation: the success of the Company’s organizational changes and margin improvement initiatives; risks inherent in international operations, including foreign currency fluctuations; ability to make acquisitions and divestitures; pace, timing and integration of acquisitions and separation of divestitures; impairment charges; management of professional staff, including dependence on key personnel, recruiting, attrition and the ability to

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successfully integrate new consultants into the Company’s practices; utilization rates; conflicts of interest; potential loss of clients or large engagements; clients’ financial condition and their ability to make payments to the Company; risks inherent with litigation; higher risk client assignments; professional liability; potential legislative and regulatory changes; continued access to capital; and market and general economic conditions. Further information on these and other potential factors that could affect the Company’s financial results are included under the “Risk Factors” section and elsewhere in the Company’s filings with the Securities and Exchange Commission (SEC), which are available on the SEC’s website or atwww.navigant.com/investor_relations. The Company cannot guarantee any future results, levels of activity, performance or achievement and undertakes no obligation to update any of its forward-looking statements.

For additional information contact:

Paul Longhini

Investor Relations

312.583.5836

plonghini@navigant.com

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NAVIGANT CONSULTING, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data (1))

(Unaudited)

	For the quarter ended September 30,						For the nine months ended September 30,
	2013			2012			2013			2012
Revenues:
Revenues before reimbursements	$	186,444		$	176,365		$	556,644		$	532,864
Reimbursements		25,163			25,765			74,117			66,421
Total revenues		211,607			202,130			630,761			599,285
Costs of services:
Cost of services before reimbursable expenses		122,165			117,910			367,577			354,477
Reimbursable expenses		25,163			25,765			74,117			66,421
Total costs of services		147,328			143,675			441,694			420,898
General and administrative expenses		33,914			33,100			99,036			104,534
Depreciation expense		4,122			3,618			11,952			10,874
Amortization expense		1,815			1,504			5,226			4,879
Other operating costs (benefit):
Contingent acquisition liability adjustments, net		(2,000	)		—			(2,000	)		620
Office consolidation		(150	)		—			348			—
Gain on disposition of assets		—			—			(1,715	)		—
Operating income		26,578			20,233			76,220			57,480
Interest expense		1,094			1,297			3,491			4,186
Interest income		(96	)		(167	)		(371	)		(586	)
Other (income) expense, net		99			95			(43	)		56
Income from continuing operations before income tax expense		25,481			19,008			73,143			53,824
Income tax expense		11,952			7,797			32,250			22,744
Net income from continuing operations		13,529			11,211			40,893			31,080
(Loss) Income from discontinued operations, net of tax		(3,303	)		233			(2,919	)		1,562
Net income	$	10,226		$	11,444		$	37,974		$	32,642
Basic per share data
Net income from continuing operations	$	0.27		$	0.22		$	0.82		$	0.61
(Loss) Income from discontinued operations, net of tax	$	(0.07	)	$	—		$	(0.06	)	$	0.03
Net income	$	0.21		$	0.22		$	0.76		$	0.64
Shares used in computing per basic share data		49,573			50,863			49,970			51,002
Diluted per share data
Net income from continuing operations	$	0.27		$	0.22		$	0.80		$	0.60
(Loss) Income from discontinued operations, net of tax	$	(0.07	)	$	—		$	(0.06	)	$	0.03
Net income	$	0.20		$	0.22		$	0.74		$	0.63
Shares used in computing per diluted share data		50,762			51,460			51,048			51,647

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NAVIGANT CONSULTING, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS AND SELECTED DATA

(In thousands, except DSO data)

	September 30, 2013			December 31, 2012
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	3,519		$	1,052
Accounts receivable, net		207,120			198,709
Prepaid expenses and other current assets		24,109			25,054
Deferred income tax assets		15,882			17,821
Total current assets		250,630			242,636
Non-current assets:
Property and equipment, net		43,992			45,342
Intangible assets, net		12,383			16,123
Goodwill		614,362			619,932
Other assets		24,207			30,417
Total assets	$	945,574		$	954,450
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	14,662		$	18,042
Accrued liabilities		16,421			11,557
Accrued compensation-related costs		67,528			84,813
Income tax payable		6,473			7,129
Other current liabilities		33,567			35,754
Total current liabilities		138,651			157,295
Non-current liabilities:
Deferred income tax liabilities		80,060			67,623
Other non-current liabilities		31,878			35,606
Bank debt non-current		110,006			134,183
Total non-current liabilities		221,944			237,412
Total liabilities		360,595			394,707
Stockholders’ equity:
Common stock		63			62
Additional paid-in capital		595,398			582,363
Treasury stock		(241,003	)		(216,500	)
Retained earnings		240,516			202,542
Accumulated other comprehensive loss		(9,995	)		(8,724	)
Total stockholders’ equity		584,979			559,743
Total liabilities and stockholders’ equity	$	945,574		$	954,450
Selected Data
Days sales outstanding, net (DSO)		81			72

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NAVIGANT CONSULTING, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	For the quarter ended September 30,						For the nine months ended September 30,
	2013			2012			2013			2012
Cash flows from operating activities:
Net income	$	10,226		$	11,444		$	37,974		$	32,642
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense		4,122			3,618			11,952			10,874
Accelerated depreciation - office consolidation		—			—			498			—
Amortization expense		1,815			1,504			5,226			4,879
Amortization expense - external use software		86			—			237			—
Share-based compensation expense		2,775			2,738			8,194			7,677
Accretion of interest expense		223			165			676			439
Deferred income taxes		777			1,571			12,750			13,055
Allowance for doubtful accounts receivable		690			1,057			1,917			4,110
Contingent acquisition liability adjustments, net		(2,000	)		—			(2,000	)		620
Gain on disposition of assets		—			—			(1,715	)		—
Loss on disposition of discontinued operations		3,675			—			3,675			—
Changes in assets and liabilities (net of acquisitions and dispositions):
Accounts receivable, net		(6,290	)		(4,608	)		(22,554	)		(33,742	)
Prepaid expenses and other assets		2,975			(1,598	)		10,100			(6,794	)
Accounts payable		2,185			2,121			(3,374	)		2,570
Accrued liabilities		3,298			911			3,385			3,032
Accrued compensation-related costs		6,920			7,027			(14,508	)		(30,517	)
Income taxes payable		5,716			1,043			304			(1,809	)
Other liabilities		(2,120	)		(1,887	)		(2,099	)		1,405
Net cash provided by operating activities		35,073			25,106			50,638			8,441
Cash flows from investing activities:
Purchases of property and equipment		(2,952	)		(3,532	)		(8,707	)		(14,511	)
Acquisitions of businesses, net of cash acquired		(2,989	)		(2,588	)		(2,989	)		(2,588	)
Proceeds from dispositions, net of selling costs		1,366			—			16,973			—
Payments of acquisition liabilities		(1,490	)		—			(1,838	)		(1,106	)
Capitalized external use software		(491	)		(390	)		(2,492	)		(1,301	)
Other, net		—			—			—			(300	)
Net cash (used in) provided by investing activities		(6,556	)		(6,510	)		947			(19,806	)
Cash flows from financing activities:
Issuances of common stock		475			606			2,620			2,733
Repurchase of common stock		(8,676	)		(5,407	)		(22,321	)		(12,667	)
Payments of contingent acquisition liabilities		—			—			(3,287	)		(2,801	)
Repayments to banks		(61,883	)		(68,976	)		(266,327	)		(209,004	)
Borrowings from banks		43,128			56,198			242,466			232,226
Payments of debt issuance costs		(669	)		—			(669	)		—
Other, net		(99	)		69			(1,551	)		(970	)
Net cash (used in) provided by financing activities		(27,724	)		(17,510	)		(49,069	)		9,517
Effect of exchange rate changes on cash and cash equivalents		138			153			(49	)		118
Net increase (decrease) in cash and cash equivalents		931			1,239			2,467			(1,730	)
Cash and cash equivalents at beginning of the period		2,588			—			1,052			2,969
Cash and cash equivalents at end of the period	$	3,519		$	1,239		$	3,519		$	1,239

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NAVIGANT CONSULTING, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (2)

(In thousands, except per share data)

(Unaudited)

This press release includes certain non-GAAP financial measures as defined by the Securities and Exchange Commission. Below are the reconciliations of these non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles (GAAP). This information should be considered as supplemental in nature and not as a substitute for, or superior to, any measure of performance prepared in accordance with GAAP. Management uses these non-GAAP financial measures in addition to GAAP financial measures to assess the Company’s operations and financial results and believes they are useful indicators of operating performance and the Company’s ability to generate cash flows from operations that are available for interest, debt service, taxes and capital expenditures. Investors should recognize that these non-GAAP financial measures may not be comparable to similarly-titled measures of other companies.

	For the quarter ended September 30,						For the nine months ended September 30,
	2013			2012			2013			2012
EBITDA, adjusted EBITDA, adjusted Net Income and adjusted Earnings Per Share (3)
Severance expense	$	459		$	638		$	4,265		$	1,895
Income tax benefit (4)		(165	)		(238	)		(1,388	)		(714	)
Net income impact of severance expense	$	294		$	400		$	2,877		$	1,181
Other operating (benefit) costs - contingent acquisition liability adjustment	$	(2,000	)	$	—		$	(2,000	)	$	620
Income tax expense (benefit)(4)		807			—			807			(250	)
Net income impact of other operating (benefit) costs - contingent acquisition liability adjustment	$	(1,193	)	$	—		$	(1,193	)	$	370
Other operating (benefit) costs - office consolidation	$	(150	)	$	—		$	348		$	—
Income tax expense (benefit)(4)		60			—			(141	)		—
Net income impact of other operating (benefit) costs - office consolidation	$	(90	)	$	—		$	207		$	—
Other operating benefit - gain on disposition of assets	$	—		$	—		$	(1,715	)	$	—
Income tax expense (4)		—			—			692			—
Net income impact of other operating benefit - gain on disposition of assets	$	—		$	—		$	(1,023	)	$	—
EBITDA reconciliation:
Operating income	$	26,578		$	20,233		$	76,220		$	57,480
Depreciation expense		4,122			3,618			11,952			10,874
Accelerated depreciation - office consolidation		—			—			498
Amortization expense		1,815			1,504			5,226			4,879
EBITDA	$	32,515		$	25,355		$	93,896		$	73,233
Severance expense		459			638			4,265			1,895
Other operating (benefit) costs - contingent acquisition liability adjustment		(2,000	)		—			(2,000	)		620
Other operating benefit - office consolidation		(150	)		—			(150	)		—
Other operating benefit - gain on disposition of assets		—			—			(1,715	)		—
Adjusted EBITDA	$	30,824		$	25,993		$	94,296		$	75,748
Net income from continuing operations	$	13,529		$	11,211		$	40,893		$	31,080
Net income impact of severance expense		294			400			2,877			1,181
Net income impact of other operating (benefit) costs - contingent acquisition liability adjustment		(1,193	)		—			(1,193	)		370
Net income impact of other operating (benefit) costs - office consolidation		(90	)		—			207			—
Net income impact of other operating benefit - gain on disposition of assets		—			—			(1,023	)		—
Adjusted net income	$	12,540		$	11,611		$	41,761		$	32,631
Shares used in computing per diluted share data		50,762			51,460			51,048			51,647
Adjusted earnings per share	$	0.25		$	0.23		$	0.82		$	0.63

	For the quarter ended September 30,						For the nine months ended September 30,
	2013			2012			2013			2012
Free Cash Flow (5)
Net cash provided by operating activities	$	35,073		$	25,106		$	50,638		$	8,441
Changes in assets and liabilities		(12,684	)		(3,009	)		28,746			65,855
Allowance for doubtful accounts receivable		(690	)		(1,057	)		(1,917	)		(4,110	)
Purchases of property and equipment		(2,952	)		(3,532	)		(8,707	)		(14,511	)
Payments of acquisition liabilities		(1,490	)		—			(1,838	)		(1,106	)
Payments of contingent acquisition liabilities		—			—			(3,287	)		(2,801	)
Free Cash Flow	$	17,257		$	17,508		$	63,635		$	51,768
	At September 30,
	2013			2012
Leverage Ratio (6)
Adjusted EBITDA for prior twelve-month period	$	127,277		$	100,108
Bank debt	$	110,006		$	155,538
Leverage ratio		0.86			1.55

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Footnotes:

(1) Per share data may not sum due to rounding.

(2) During the quarter ended September 30, 2013, the United Kingdom financial services advisory business was sold. The results of operations from this business are presented as discontinued operations. Prior period information has been reclassified to reflect this change. All non-GAAP financial measures are presented on a continuing operations basis unless otherwise noted.

(3) EBITDA is earnings from continuing operations before interest, taxes, depreciation and amortization. Adjusted EBITDA excludes the impact of severance expense and other operating costs (benefit). Adjusted net income and adjusted earnings per share exclude the net income and per share net income impact of discontinued operations, severance expense and other operating costs (benefit). Severance expense and other operating costs (benefit) are not considered to be non-recurring, infrequent or unusual to our business. Management believes that these measures provide investors with enhanced comparability of the Company’s results of operations across periods.

(4) Effective income tax expense (benefit) has been determined based on specific tax jurisdiction.

(5) Free cash flow is calculated as net cash provided from operations excluding changes in assets and liabilities and allowance for doubtful accounts receivable less cash payments for property and equipment and deferred acquisition related payments. Free cash flow does not represent discretionary cash available for spending as it excludes certain contractual obligations such as debt repayment. However, management believes that it provides investors with an indicator of cash flows available for on-going business operations and long term value creation.

(6) Leverage ratio is calculated as bank debt at the end of the period divided by adjusted EBITDA for the prior twelve-month period. Management believes that leverage ratio provides investors with an indicator of the cash flows available to repay the Company’s debt obligations.

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