HURN - Earnings call transcript Q3 2017 | Huron Consulting Group Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Huron Consulting Group's webcast to discuss financial results for the third quarter 2017. [Operator Instructions] As a reminder, this conference call is being recorded.

Before we begin, I would like to point all of you to the disclosure at the end of the company's news release for the information about any forward-looking statements that may be made or discussed on this call. The news release is posted on Huron's website. Please review that information, along with the filings with the SEC, for a disclosure of factors that may impact subjects discussed in this afternoon's webcast. discussing more be financial will company one non-GAAP or measures. The reconciliation on at required website including comparable the look the numbers. by the GAAP earnings SEC, disclosures Please the release Huron's most of for the to all the now, Jim over President Huron Roth, And and to Consulting Officer call Group. to Executive would like of I turn Chief Mr. please ahead. go Roth,

Jim Roth

now enabling and Chief John third call. With guidance earnings Officer. afternoon, he on I'll each provide welcome Kelly, revenue us Chief solid expectations, then begin our the Good narrow our XXXX growth and our of and our with year third to Advisory segments, Education quarter Healthcare. Huron within results Mark full Financial by it Led so established and EPS our previously the Officer; today John and over were to year consistent through Operating financials. segments, Consulting with are Hussey, will some quarter full the Group's turn in can me perspective Huron's to I you walk range. Business

revenues from third some engagement, due XX%, in in softness the and business. improvement reduction solutions a to segment in was year declined year-over-year of Healthcare quarter, prior a compared to largely stemming, revenue, lesser extent, performance the quarter. The roll-off During part, the decline to larger our advancing

to business, new realized In need levels. includes health improvement during services. as which be systems pressures quarter, is increased clinical business the for demand our as renewals cancellations a for demand meaningful attributable solution, cost offerings, achieve Studer academic revenue and cost of our continued signs many return ongoing the primarily third quarter, in performance seeing to to margin increasing medical while quality there During sales our continued healthcare well normal cycle and the increase The particularly objectives to centers. we and Group our and and

quarter XXXX. quarter sequentially us that performance. of third business. declined XX%, our continue over highest first give X%, trends increased we Utilization recent to the segment an prior achieving nearing of the quarter These improvement Healthcare in confidence are stabilization the Healthcare a point quarter revenues some Third to in since rate

a remain will to market given and we business will healthcare the of is initiatives focused growth continuing our be offerings on current proposition that position our visibility, a cautious believe the direction We Healthcare for to favorable while broadening unified business. market believe that the growth our for our about this evolving rate clients, we the us long-term in reduced integrating strategic for pursue business, aggressively we are base, in value XXXX. client predicting our organic and create While uncertainties to in

Education organically the quarter, performance segment. again in Education revenues year-over-year. to now the achieved Turning X% growing solid

Higher expertise industry performance growth undergraduate deep drive support the and including and to was as quarter and third executing increasingly to solution. Our strategies an technology Colleges are in of it institutions led public scrutiny today our student-focused increased education the are facing and by universities ROI pressure value and offerings, education. relates financial comprehensive are positioned progression. problems, our we processes initiatives. their of client student with growing student-centered uniquely technology in deep our our depth and using success to base improved of complex With service support

the trajectory. meet the within its needs to services positioned solution our portfolio and more pressing research our and Our challenges to offerings practice we in clients. well advantage. segment of our market continue In provided remains have our top segment, Education enhances from and the the differentiates technology sector ability collaborate across XX the and believe XXXX, us to growth competitive operations, in the strategy our than solve most XX of We of one clients' Education to

or Advisory; third to ES&A; growing our perform Analytics, Business Our during strategy the Sciences. Solutions segment innovation the year and and Advisory with includes legacy expectations segment line quarter, Life continued Enterprise over Business in XX% and four This quarter. prior businesses: the

large during ES&A quarter range by our broaden offerings innovation and practice, as ES&A acquisition. solution. in the inorganic practice, business its prior projects well in This the organic into ES&A Our new established Innosight third growth QX business in was to to growth primarily compared as technologies. of by continues continued intelligence quarter. was driven XXXX, to third mid-teen The The business quarter the as to which performance our in year the driven scale strategy we growth deliver the with grow and

XXXX, During third clients three million, our quarter. have demonstrating as same to innovation in ability number $X period value to our the compared performed doubled well we of complex XXXX, The the have confidence in the of deliver the quarters the increasingly environments. in and practice strategy first engagements over in

industry strengthen continue go-to-market We with core serve Huron's industry in strong the and our to innovation expertise experience best to combining approach our strategy team's clients strategic verticals. by

segment, we life our its in seen have success we pleased with are have the footprint in Business our and Rounding made serve industry We to a Pope the focus, Business when we legacy out integrating sciences Advisory market continue our we Advisory manner. the continues practice combine unified to offerings notable the Woodhead in global industry. expand to as progress expand

competitive across of XX% in approximately efforts revenues firm strengthen and capitalize of its In the Business advantage. education segment to nine the collaborative XXXX, on our generated the healthcare We first total our continue the industries. Advisory to months entire

Let turn to our XXXX me now guidance.

$XXX million, loss of a to million our press guidance GAAP QX impairment goodwill $X.XX our updating charge. release our per-share earnings of to As we a $XXX loss guidance $X.XX, are the inclusive of indicates, and revenue annual to to

our EPS reaffirming adjusted Healthcare performance-based non-GAAP we Finally, guidance. are fee and

our turn for more financial it Now, let of me results. over John John? a detailed discussion to

John Kelly

everyone. Jim, you, afternoon, Thank good and

flow. I financial cash measures I free adjusted non-GAAP be adjusted such Before please EPS adjusted will as EBITDA, note that and begin, discussing income, net EBITDA,

Relations measures, our along of XX-Q, GAAP information comparable investors discussion the the a non-GAAP operating to measures condition management reconciliations measures results. these and management believes financial uses Investor useful they with release, why press have provide regarding to page these why website most Huron and non-GAAP on Our of

Now, $XXX.X quarter. million, of financial Revenues the let quarter XXXX some to $XXX.X million third to of compared walk you in the for the the XXXX. key me X.X% quarter results through declined for same of

acquisition and which Third from included of Woodhead XXXX. acquisitions HSM Innosight, our quarter XXXX $XX.X full impact revenues third and which quarter of after million we mid-third quarter of the of completed our the Consulting, Pope quarter of closed XXXX;

share international acquisition integrated in Third million operations quarter compared XXXX revenues business. reduction same income quarter and salaries, quarter increase the of diluted business ADI income in Strategies, The which to from continuing in related $X.X in over our percentage also to $X.XX from an the $XX.X third or per our Net been million attributable diluted net last XXXX fully the or in prior bonus, was of revenues year revenues XXXX, decline a into included primarily has of share $X.XX the the year. as revenues. expense period per and was of

disregarded in treat a Our The benefit to purposes. federal effective related a unrecognized quarter foreign third a year benefit income XX.X%, of to rate tax rate our subsidiaries tax XXXX negative tax entity for in ago. income was one to previously check-the-box wholly-owned made million XXXX U.S. reflects tax $X.X compared of from our as election QX a the XX.X% XXXX

revenues. in or $X.X XX.X% per the We continuing income or Adjusted and in adjusted third share its million the consistently XX.X% million million the net onetime due EBITDA or was have $X.XX XXXX. to continuing decrease of of this adjusted $XX.X diluted compared XXXX $XX.X of QX election compared reduction in same the it initial adjusted in adjusted million The non-GAAP and impact XXXX of was net the QX diluted was primarily attributable treat income of to operations. in period EPS or net with from out of $X.XX to quarter XXXX, operations year-over-year benefit EBITDA per to income check-the-box to nature $XX.X Adjusted revenues XXXX. share in from in

generated $XX.X from quarter our XX% revenues of XXXX. The a the of XXXX, for XX% during the This Now, third or down few quarter of segment of million company $XX.X XXXX. total of third the quarter I'll about make revenues each of segments. Healthcare comments of operating million segment the posted performance third

driven softness the million, in extent, the mentioned, revenue decrease a fees in business. were our and last lesser compared Jim As in primarily in year. $X.X in was by advancing Performance-based $XX.X XXXX performance decline million quarter same a solutions improvement to revenue, QX to

increase revenues. in remains in range was the percentage XX.X% performance-based of The XXXX, year-over-year related the Healthcare Operating same in primarily million. million operating for and fees a in expectation was Healthcare to income to for full expense XXXX. as attributable an to decrease compared margin QX of $XX $XX margin Our salaries, in XX.X% bonus quarter year for

continued contingent fee third execute resource this reduced less during projects quarter upside XXXX, driving for on offer large and business. to margins efficiency engagements, We smaller than the which of

quarter We of primarily bonus for increase an $XX.X in a XX.X% driven XX% increase of The to posted margin revenues XXXX. by operating campus for performance The total was revenues for to margin decrease expected year XX.X% the the company the segment Education as in QX year salaries, in revenues. be on for QX continue generated salary for and increase accruals of was The quarterly compared expense operating operating margin percentage quarter. increase full in during of million million. XX%. organic to $XX.X XXXX XXXX. the was income segment to of the attributable bonus largely segment Healthcare in an full for X.X%, QX related compared XXXX, and segment quarter of same Education hires This increased expect expenses based to during in an quarter revenues income The XXXX, approximately third

strategy year segment, includes We innovation Life for in The XX% Sciences the $XX.X of of generated to third between an operating XX%. Woodhead Business million quarter revenues of XX.X%, for the practices Pope of Business the segment acquisitions Innosight. increase and be of our posted continue revenues from revenues QX Revenues million ES&A, XXXX. compared of legacy Advisory third XXXX expect million and segment The XX% the to full quarter. for quarter to XXXX, total in included company and Advisory, third Education the margin of $XX.X $XX.X which and

XXXX. business XX.X% international outpaced also Business Advisory Business for in the since the Advisory to impacted favorably XXXX, segment. the that by been acquisition operating in of quarter from fully XXXX XX.X% same QX into bonuses, expenses. margin ADI included XXXX revenues growth salaries, of our for was and income integrated related quarter has Third The Operating income which Strategies, revenue our margin compared for was quarter revenues

the at operating million segment level full between Business XX%. segment restructuring for charges. margin $XX to quarter with million in corporate year not expect and the included Advisory be compared $X.X XX% XXXX, continue million allocated $XX.X Other QX were QX The We in expenses of to XXXX.

Woodhead G&A In Innosight's within addition, included and are Huron. activities these $X.X activities as are other costs in of corporate unallocated consistent Pope with million

in million third quarter Now the convertible both the second turning a XXXX. promissory flows. and debt quarter with of cash We finished XX total of to for of value for XX face XXXX, bank the $X $XXX sheet notes, of of senior for a the as $X note of includes senior cash $XXX months defined of $XXX million days $XX XXXX quarter DSO with provided million, at million. to the for credit balance debt Total million net approximately million, the agreement in secured in and to approximately days of debt came activities our leverage was quarter. the first Cash $XXX million of debt the QX of million adjusted of a $XX of operating debt net compared EBITDA. We ratio end ended XXXX decrease $XXX second for nine X.Xx compared as by million.

taxes $XX for cash of of to $XX excluding be year $XX compensation. and activities we Net for flow million, cash still of million. We approximately net to million the expect $XXX the million expect capital operating stock from interest year of free for noncash to million. expect $XX cash We flows expenditures and the approximately expenditures, year capital

$X.XX annual we're to per to of updating GAAP annual guidance our $X.XX and million EPS to for revenue million As loss $XXX of our earnings share. Jim guidance mentioned, $XXX a

share. EPS We our non-GAAP are per $X.XX income affirming $X.XX to adjusted of of

quarter, the second rate, during exclusive We to the during of benefit the expect third impairment our new to range reflective of of tax XX% charge of exclusive in effective check-the-box XX%, the taken quarter of the recognized share-based and goodwill of impact compensation the rules. be accounting the the impact

in several we walk reconciliation are adjusted reconciling to EBITDA, comparable EPS, a to The questions. release these to our adjusted to to income press there the As With you reminder, and when reconciliations. non-GAAP open adjusted measures. I that Operator? schedules you respect consider through will would items like that, closing need that net with these measures now call help included GAAP will

Operator

[Operator William From question Tim Thank comes Blair. Instructions] Our from you. McHugh first line of the

Your line is now open.

Tim McHugh

Thanks.

Just implied a quarter. And terms math X% want granular guidance of for My sequentially? to little see be the expect to more sequential it's says of improvement. to type you in you can XX% guess the on ask step-up fourth kind of would that where I

John Kelly

Hey Tim, it's John.

fourth is, the first in of third that The quarter would initially contingencies to we pushing that had note we during quarter. come million thing $X expected about out are the I to

it so probably think and and the was fact, was Education. It closed there... transaction right related that two borderline Healthcare different between actually on projects, split That so was right X, October one half to I a half In there. that on

Jim Roth

Advisory. Business

John Kelly

I'm there three gap. Business think expect that, I that some Healthcare. sequentially segments. really of and bridges we then increase But sorry, And beyond Advisory across revenue all right to the

Tim McHugh

Studer, down sales guess the I do retention, was new think going double that the And you given commentary And was on - was I it performance on. versus I and the for quarter digits trend business can guess, this what last expect, you what line forward Okay. now was probably business quarter? - the commentary

John Kelly

Tim, say, Group. the have year not for the changed would meaningfully for Studer expectations I full

Tim McHugh

that the you expectation me quarter, then can guess? remind Okay. And what What was was? in it I

John Kelly

Yes.

for and think expectation the XXXX, set be that year double I XXXX was it and the digits to down for we the still low comparing So, that's expectation.

Tim McHugh

the guess Okay. I given commentary why expectation? then, that still

Jim Roth

we that what the we we quarter is saw little were in a of always as Part And we've about new quarter, second feel a bit business third In well more increase that that quarter. the sales during we business the meaningful have some that to saw of you and see, Jim. as indicated, levels some stable. bit it's return in - more did so Tim, cancellations about as a the talked we drop-off continued renewals, getting seen the normal.

to to be - was a that think even - something what for that feel probably in it was in I like an I we're more So, Group bit a and than Studer anomaly thinking happened little QX of was weren't going trend. be we continue a

Mark Hussey

that thing it's contract typically Tim, as would know And value basis Studer The Yes. I add way you the contracts. multiyear is Mark. works the last just business is total on of a

year not current the really, are current some so, all to And year. at impacts reflected degree, the in

And shown have to recovered year results. current in that things would have fact the that necessarily the extent, up not so,

John Kelly

the the our And think would even as it of that, relates expectation had I in normalize to been that back half year. cancellations,

So what that's the with thought had of really just consistent as call. we last

Mark Hussey

continue building coming back to base got seen we've So, solid the feel going the takeaway from that business, stability we've into like Studer we a and is forward.

Jim Roth

would talked Again, cancellations the about some had we we the had Studer about I think I economic larger the we thing Group, systems other of in having of in talked a centers. QX of one we when some the medical and And challenges few for-profit some add.

In an fact, the academic current actually QX, medical large quarter, a in center. in to sale had we

that as developing kind out think trend though think So, QX, I in - in and didn't I there QX. was feel a we proved of

little I just bit got more think to we back normal operations.

an the and in I a a were not bit some QX cancellations, more trend. And of little think, of anomaly

Tim McHugh

Okay. Thank you.

Operator

Thank you.

from line comes of Our next Sommer the from question SunTrust. Tobey

line Your open. now is

Tobey Sommer

Thanks.

the I of was top of your than Education your, sort across one from service that more customers. segments that that more of a your or segment? service highlighted one sold that than one proportion the think sort within prepared are than in mentioned high Is segment You more about marks you - service Education resident

Jim Roth

the within segment. resident It's Education

of segment. also Although, that well. business is well got have within are the the we've and of our that we of fair of collaboration fact comment we XX services out resident of strong amount very within have XX a multiple indicated, - that indicative Education as we to continued we've The have was a with we to - just our to XX base Education in client as intersegment a services continued degree the referred so of sales XX out was Education. But lot resonating

Tobey Sommer

and a In Okay. would your you kind that another business? business, project, improvement - versus the Healthcare any of to tendency how of method activity characterize performance trend pricing like is or the customers one assessment choose what for particularly in

Mark Hussey

would projects one, changed. deal to tendency of easier I as it's Tobey. is do just We remaining Mark. dramatically go the goes an that take contingent with What size choice is seen smaller, to not contingent. that we've less I'll has down that say the in in environment pricing higher the element This see contract are in increases. because as contingent -

the by provider I seen assessments, to, your half year gone with it your solid any of So, characterize where on base, stretch, a don't is activity away. and right margins section, - in the show this And the up assessment with more then I in question of pressures now about as guess, well. second would this the or we has year. we've I think, definitely half have broad comment first does than ongoing that is the that environment And it we in in market the underway respect

Tobey Sommer

be pressures result in larger of the a size any appeared providers? there projects what of Is to resurgent kind visible on kind of as rebound of

Mark Hussey

Yes.

we provide cycle would PI. - the that way is general, in, some better in gotten whether providers, I that the the have think or revenue question Tobey, it's that I services answer of at

there as would we've as larger we're but size have of reasonable the of well. In helping when them take mega still some engagements. what of seen out, they amounts cost historically, nature organizations how engagements. has decent-sized are characterize are that trying Nothing I cases, are large to into you shifted the So, that translating

So, period relatively there to cash, was seen two the three flush the the was say unlike or or it are pretty a quarter where perhaps and prior definitely engagement be with market two I would quarters. we've in soft starting than in recent larger

Jim Roth

interesting Tobey, thing assessments, pricing because add think, go and it's put together. extent, to the I just the And I would one you've some

much to bit is of little a think, portion Mark I risk contingent I project client critical, profile think it's more of gets the the end. the because just from indicated, as it, more a larger their a

gone As have the haven't as our need through - Mark our we much to the the had size projects seen pricing. of down, go really contingent route on as need indicated, clients the haven't

back under the cautious be as more going until good about - In we're we're before a feel that the and a by to we've all mounting think feel services. of are at structure. had which in of going improve growth and as indicated just said trend pretty are increased But terms the there looking a - the going be this the about that like of to a I cost bit to we've - I be I've well, just the pointing margins feel to for demand feel on as to get trends, we because need we seems we need probably to direction quarters We couple primarily an sustainable. there at as same our time, script, to more things have is think the couple to go little we're you're go we that hopefully comfortable going, quarters any trends see given, to looking their for. the pressure

Tobey Sommer

question Last me. for Thanks.

repositioning. for business some time reposition contribute your the to to contributing to deleveraging for from firm, M&A using outlook that Is here You still primarily while? organically growing spent a - some and trying the

Jim Roth

Yes, it is.

Tobey Sommer

much. Thank you, very

Operator

Thank you.

from comes the question Barrington Steinke from of next Kevin Our line Research.

Your line is now open.

Kevin Steinke

afternoon. Good

solutions I that add within headcount to to believe your you So, Education. mentioned you continue business tech

to with more you be much done out think investment rather and kind there? If continuing how build you're demand the to just wondering reacting needs than of up adding of kind keeping just that's So practice? to the projects just

John Kelly

We a financial expected to think because Education. From point XXXX, we're the be European point, and the be this to At that's think investing first cloud come still that net we way to going within expenditure at think and area really build - We're start in probably area. introduced John. had there. to resources it's that the from in we to building perspective, we those an growth of we rapid out businesses growth I environment. investment Kevin, that's going described we good particularly still was resources the a initial back in that

date, are rest to are lower think imagined. is of And ramping as we the margins now the that than average growth. the expect growth resources, a as to I over probably business of businesses little up we but the those out segment we progressing, seen continue build years. for profitable, the the We've still couple bit that next

Jim Roth

a But for years. we to indicated, us in very lot as the would expect also, the the we the part, in believe sizable indicated, opportunities opportunity area, be which be the around we will student organic. HCM space John And expect of for continue growth financial, and we we a as coming cloud - to see, most

Kevin Steinke

innovation the well. or Within Business you business strategy and sounds commented performed That Innosight Advisory, Okay. good.

just segment the within the and practice being segments. opportunities update also cross-collaboration could the with seeing you us opportunities If there, generated, you're the what between or both

Jim Roth

Yes. It's Kevin. Jim,

value very some So, taking those is multiple an across I'll successful to in their competencies of They these go so be the they've Their approach effective very - directly to to in to first. to marquee their delivery and successful side industries, and industries. clients. been continue non-health been clients very of education array the and relevant

very doing our the healthcare - combination of to as before a that Since us, with they've also similar practice move well. had we've beginning strategy of have - also we're of make a and and just something meaningful And more Innosight, to pursue begun healthcare. of strong they had a expanded process actually continuing to Education in joined acquired very we with healthcare As Innosight. into strategy

our we Innosight good services So, particularly health, collaborative effort with the really sciences. of and feel in life about verticals, team existing the financial education,

Kevin Steinke

great. And I like? practice Business within I mid-teens. continues there, growth What's also believe believe Okay, said your Business that's Advisory. outlook the ESA the pipeline you within largest Advisory, organic

as few the So, move in quarters next forward business how are here? you we feeling about that

John Kelly

our it's of And Kevin, still not nice we're see bit is seeing It's not in well. we ERP-type it's nice investments. talked business. well John. Hi but I well, positioned CRM We mean, area area it's as other in think that which an some little opportunities - ES&A the across clients And about where a their as make before team on also there. cloud us. industries work team, That's Education, then work. had EPM, pipeline a We growth just a is for lot primarily of also

in we continue a see solid the term. to long grower outlook be that and in pipeline continue So, near to we a it expect to business, the that and we have

Kevin Steinke

a update leader the - what business? still Any of the of is Just Okay. on Healthcare for status that. are for wondering you looking kind

Jim Roth

Yes.

that we'll clients. tremendous on strategy we're want And a execute executed of bit we we're and array the that as a look interim that executing that prior broadening for that it Mark it offering, larger direction or the going it's in calls, said to in is for that has what a basis continue doing we're leader a an to resume I been think comfortable do we have involves So, little business. to while we're the we've pace until to Mark going to area. to on be. a going we in that expanding And And at services helm, then job have

Kevin Steinke

questions. Fair Okay. thanks the for taking enough. Well

Jim Roth

Thank you.

John Kelly

Kevin. Thanks,

Operator

you. Thank

question next line Benchmark the comes Our Bill Company. Sutherland from from of

now Your open. is line

Bill Sutherland

declare maybe looking Thanks. Healthcare Hi - you everybody. involves just like et some comment, a the little I what made understand maybe could on I wanting and versus or was Jim, see cost here performance, unfolds of for, how victory. well, I about clinical a quarter bit better that if you're two Mark cetera. granularity for thinking wonder as to about you to in kind you just before or

Jim Roth

and I'll comment. Jim. a add maybe shot to take is wants this some Bill, Mark

trying some think can negative time what feel point think I a of at we're So, that said we're through, really to in had XXXX. what fact, organic we're return the and appears are - understand We hopeful through - that we've growth, good reversed. get to I trend about markets given confidence quarters I really the we be think quarter We reason we're one say why is conceptual in the shaping the that And the to in where that to the some we've going period we increasing. organic way say up. the we go see just demand like to look we trend additional to been have after We the growth that, feel is, reluctant is need before fact, at trend.

the be average. very have front. positioning. batting - good no this going to We've work So, be reason we're When cautious. about in our we I still getting, high at feel We're we're got we cautious that a very to not look

we get kind go in can until a too some about. at look where the we've than fact, array that, a kind a ever services is in realize offering before, we've of work quarters we and collaborative lot of done the way involves are we're expanded that more under getting are better trend. that it of things forward-looking so We reluctant there's additional had to of feel But much to this

Mark Hussey

that asked would the I we Bill, were looking add we what And - that Yes. are you thing for.

process year to sequential our And resources. you stabilize so, the look really the feel half growth embedded the We've this base, guidance. with year, what of stabled like we're we've so we on - demand was this were in looking really the which second doing the the as aligned for I at within of

And really coming together utilization can businesses of you happen. across and business marketplace. see this the the back. strategy, practice that starting that we've in starting way value of the operations, in within a in within compete of models in multiple trying have all really to to process unlock to really, when unique the signs position highly seeing we leadership, effectively align You're now We're to We're look that got the we've Healthcare a collected of technology.

And so, this we'll in really bringing emanates into together those XXXX. how see way, effective a

the declare don't on growth job to But we ultimately, X victory. to that have Number minds. getting is our back we So, want

Bill Sutherland

Right.

are you kind And progress, revenue split in still us so, revenue of the both just kind I of of cycle of to-date. Or kind - industries bigger the backdrop cost cost your clinical potentially of Do of out pace? between for industry? see challenge more expecting cycle, about same in the being given you clients' them - think recovering to at your and the clinical, of the

Mark Hussey

No.

- we've both. think see our really actually, think for that I evolved. I we in We've resonate reasons. the delivery models are, really needs we're the in both for from of And similar clients' with and seeing how really - them just ways them have flexibility fact, you'd increased

capabilities And where have take so, and engage deep really the be able them we we in can ways in with marketplace. the are that in doing so, to we effective just

in we the actually in revenue I think So, and are strength as cost you're cycle in clinical going well. - seeing to both

Bill Sutherland

me. for Okay. And finally then

a to about back low Just I year, obviously the half because digit What when you guys of that. double the sight back looking have pivot happens think, in us sort getting year? good this you of in did spoken, you that next at business give year and trend line next of the Education on

Mark Hussey

technology, research the I trends you our the and think across business. consistent I they've been in Education back We've and that has growth years, two trends particular, our pretty in last the operations the think at strong. said been that are to normal I our pretty our for need, in strategy look We're we rates And business if or at rate think in for the to company. are feel is good of well about and continue going pretty are evolving those collectively, and grow beyond. things practice XXXX very how this lot The our above average industry a positioned. in

Bill Sutherland

much. Okay. Thanks very

Operator

for I Thank thank call final And you. questions. there would to like the are to further time, Mr. no Roth this back you. a turn At

Jim Roth

with fourth to results. this when with evening. announce year time and quarter Good look afternoon. us spending for Thank speaking We you you again full our we forward

Operator

thank have and gentlemen, Ladies great day. you may This and in does for participating program, disconnect. Everyone, conference. all today's the a you conclude

Huron Consulting (HURN) 4 Nov 172017 Q3 Earnings call transcript