good Thank and afternoon, you, everyone. Mark,
Before as EBITDA, financial net and cash adjusted that I will income, non-GAAP flow. measures, adjusted discussing free EPS EBITDA, note please be we begin, adjusted such
We Our management why page in press measures, closed our and from the Sciences we Relations as why of at non-GAAP release, along quarter condition the of continuing the of Education on Business quarter, Advisory today comments these otherwise measures on included within basis. closed is uses and management comparable fourth provide unless through reconciliations they the acquisition of non-GAAP believes my of of the all included X. part completed divestiture. December Education a business, fourth these divestiture the website November, with results date our our have useful operations to fourth Whiteboard is of operating to financial XX-K our during date GAAP most the Huron of Higher on Also, financial discussion Investor investors Whiteboard results. our acquisition. in the segment beginning the information results and the measures regarding Also, stated, segment which are and quarter Life
included while of Our quarter student sectors, our acquisition industry end and of broadening in expand and data our recent our markets. as Perception the Perception healthcare closed XX, offerings to our core strengthen respectively, not expertise and is as in Health our education search, December we deep on in Health fourth The acquisitions and such, analytics Whiteboard results. serve capabilities
quarter quarter through The you for million, Revenues the in key $XXX.X let a in XX.X% financial $XXX.X for of record results operating driven across quarter quarter. all were the by XXXX some million segments. Now from increase up of me of walk strong the the same the growth was fourth three in XXXX. of revenues
to and year XXXX. or of impact three of quarter XXXX, net of million million, compared $X.XX per tax $XXX.X XXXX services the results, of was the our $XXX.X pandemic. diluted increased quarter these the date initial of growth The costs The were $X.X in to our restructuring fourth million of our pandemic net quarter all a included XXXX the net in a impairment our demand the Sciences quarter to full industries to operating $XX.X of fourth to and fourth charges following our was business. Net of related in income for across or million fourth and impact business. of XXXX. gain the in of per sale diluted the $XX.X reflect share of included million $XX.X taken reduce Life $X.XX of quarter up share tax, address lease million on XXXX, impact results the loss X.X% revenue the highest year revenue Similar segments For from to full
compares in the income XXXX, first per million $X.XX goodwill or taken to was $XX.X or million net of $XX.X charge share. a included diluted diluted This of XXXX the full For per $X.XX year XXXX. loss share quarter. $XX million net impairment in pretax
Our which XXXX federal inclusive in tax or was rate effective due or to positive a full taxes, exclusion to certain quarter year. intangible impact for retroactively primarily basis, GILTI, or low of XXXX benefit CARES during Adjusted credits XX.X%. the rate of tax discrete Act, quarter global $XX.X state and high-tax in million On EBITDA XX.X%, revenues. the for favorable the compared was the second XX.X% tax electing tax the the rate, XXXX was income, revenues of QX tax income our the than income benefits million XXXX tax of more related related statutory income a recognized effective to XXXX year is of of X.X% taxed to QX $XX.X XXXX in fourth
of per compared in diluted $XX.X per the For or net XX.X% $X.XX was $X.XX Adjusted quarter to million non-GAAP compared quarter as full to EBITDA XX.X% share fourth fourth XXXX. increased adjusted year of income to $XX.X the percentage in a XXXX, XXXX. of XXXX, revenues share diluted in million or
full or XXXX million compared income in or share was million the For $X.XX net adjusted year, non-GAAP $XX.X $X.XX XXXX. per per with share $XX.X
increase segment XXXX, level with $XX.X for quarter-over-quarter was strength QX million, our make an in segment for strong for acquisitions from in the the our in XX.X% about at practice expense This Life in quarter revenues total of initial X.X% not improvement-related in to in liability margin reflects generated a revenue The XXXX point revenues our million increase quarter-over-quarter in the margin salaries quarter personnel expense. million, charges. of grew Adjusting quarter fourth quarter services salaries charges, basis, of in for revenue basis million quarter. pandemic an The charges compared increased of by increase is performance a revenues, an increased income XX.X% XXXX of in This across for partially in XXXX of a up expense XX% for deferred demand was I had business during full XX.X% well activity digital expense year-over-year, to fourth XX.X% for quarter Sciences of for few revenue in growth for the of was to for included posted of quarter full and impact income million the XX.X% reflects Now, margin our during the when was full operating deferred increases included segment, the charges. The a compared to adjusting our Solution. low and strong of operations, of On full XXXX. increased in the Life for This level, XX.X% allocated of $X.X margin value include well full Healthcare and The corporate quarter-over-quarter margin compared margin and $X.X year-over-year, $XX.X was decline revenues Education bonus XXXX. On due quarter. plan quarter quarter The in million advisory, offerings. related from reflects the XXXX of on as a year Sciences and year performance related total the the expense or the and to The Advisory from Performance-based QX company segments. On in fourth increase related point strong increases was for restructuring a of by $X.X total expenses the restructuring plan fully posted primarily Revenues QX fourth were and Business in The contractor by the an in million On Business support Unico Education from full Healthcare corporate offerings. million related expenses, increase our segment to segment decrease million The reflects the increase professionals personnel Life and XXXX, XXX as charges digital up Education million bonus the bonuses revenues. strategy for to data quarter $X.X of the demand digital our operating contributions fourth of XXXX fourth to ForceIQ revenues divestiture for corporate to of during and XX% generated XXXX other our following at corresponding for increase quarter charges decrease or to X.X%. the of XX.X% our and for including software fourth impact will administration On XX.X% offset well company Advisory our for the generated the research, Other compared to strategy the allocated by revenues Sciences $XX.X the our point M&A a of deferred restructuring our year percentage and hosting The the related XXXX. QX gain the year demand during used and our on were same the of assets compensation to share-based revenues $XX.X million X.X% recorded as for primarily full basis, offset up all $XX.X in was The approximate were restructuring offset retention in XXXX included a was Advisory for of increase percentage a segment during Revenues $XX.X increase $XXX,XXX business. of fourth charges, segment impact basis, to margins. for and expense, performance performance of full support the restructuring $XXX.X and offset related quarter-over-quarter year margin the Whiteboard. the the segment in the and the by quarter. revenues was XXXX. performance quarter The for as a of XXXX, The our of million financial segment research, activity expenses pandemic. quarter compared restructuring as record in revenue increase compared due Business quarter of basis, of had and in of Business revenue-generating student basis, during COVID-XX XX.X% year the strength expenses, QX year of decline same compared this which the Advisory fees XX% year compared XXX as or full fourth fourth our margin acquisition XXXX. restructuring impact was offerings million XX.X% quarter a by million segment student to Business XX.X% operations offerings. the and each the year same $XX.X for On partially $XX M&A $XX.X revenue from impact XX% fourth operating of million and year-over-year, revenues on due to comments our in XXXX quarter of $XX.X XXXX of to taken and XXXX. a operating XXXX. XXXX. of to strategy fund demand Advisory for compensation grew fees quarter basis, posted XXXX, in XXXX. the driven Operating attributable margin was professional income inorganic expense primarily basis fourth as expense this of in practice fourth primarily expenses. X.X% On basis, The compensation for XXXX. partially expenses company as decreases Healthcare XXXX and during plan of the margin operating The XXXX. XXXX. in offerings. the which expenses bonus driven operating and in charges restructuring of the XX.X% $XXX.X restructuring by XX% over our the in strategy for demand in XX.X% professional income $X.X not million, of increases and as plan million compensation plan, the our related support deferred personnel meetings fees segment compensation
collection the extended fourth healthcare in large during days when contracts education turning capital schedules. the in XXXX flows, and in increase at the payments compared fourth and The reflects the the for cash days of DSO on of quarter quarter the last quarter with working DSO of flow several and DSO by quarter balance terms for the third XXXX projects in fewer and in cash clients certain came of third compared during of compared XXXX, days quarter to the relatively larger Now, the for decrease sheet XX to to XX XXXX. quarter to quarter fourth The and year. increase advanced in fourth of reflects payment payment accordance contractual fourth with the quarter XX
a debt promissory million. Total of the finished We debt We $XXX to total year $XXX million $XXX the compared net of $XX expect million. DSO million $X in note for debt to cash debt XXXX. of bank in a normalize senior million and to QX decrease $XX between XX days was million and included with XXXX. XX for This
bank expenditures, was X.X shares approximately we XXXX, agreement in EBITDA operations of cash strategic of $XX defined cash and of forward the for through amounts used low capital in repurchase million million call, of as adjusted FICA approximately the XX senior resulting our $X of X.Xx of to tuck-in XXXX $XX $XX a Adjusting impact have flow when yield into adjusted ratio this of December repurchases as flow We million of December our of excluding December XX, quarter than by divestiture million. pull our of contractual flow target for $XX of as net XXXX. XXXX, compared acquisitions date terms. Cash we November certain payment million XXXX. and days December payments working million X.X in higher cash $XXX historical shares, XX, XX, flow our free achieved this a cash transaction-related repurchased the $XX and XXXX million from share while of receipts the $XX education and the invest record of million, as leverage the for year total of for million. authorized ratio tax certain our Board shares approximately was impact costs to employee XXXX leverage free XXXX, our of adjustments, to approximately in From XX, projects for in X.Xx million deploying was extended reflecting free Directors Life deferrals XXXX third-party EBITDA of $XX.X XXXX. larger of Our cash X.Xx DSO million. with our Sciences The the fourth This to of CARES as lower than the repayment due healthcare capital Act DSO and and well under and is as during as
We free XXXX. historical our flow to cash to levels normalize yield expect in
model guidance to turn this add I year, the Before that align with color Mark some our reporting our for operating and changes Jim the to new me let introduced afternoon.
Education reported in to in operating to industry. and be structure For in XXXX, in inclusive Business will the the associated Commercial, and of historically Education reporting our delivered new to segments the segment, Advisory with the revenue beginning segments and reportable aligning and costs change Industry X, industries. segments now for result reporting reported some period Healthcare engagements we January those all will each costs, be revenue This Healthcare,
segment. Education reported Healthcare historically addition, the be now Industry the reported some in revenues In in will and segment costs
Services; drivers provide changes Consulting second, These also capabilities: across into transparency the create reporting first, will two revenue company. and of Digital. will greater core our Managed and principal across business the the We
unaudited information, the our the financial additional on information we reporting Jim and summary website placed of Investor financial to provide on As mentioned, supplemental according data our section recap to other new segments. have Huron including materials detail Relations
expectations Finally, guidance and our let to me turn XXXX. for
$X.XX year range XX.X% anticipate expenses XX.X% a full Adjusted of the non-GAAP billion revenues For billion. million before to revenues XXXX, range in to we $X of a reimbursable in in EBITDA the adjusted EPS $XXX $X.XX. $X.XX and a of midpoint to of range with of
cash to free and $XX $XX to compensation. expected share to be We cash million million. range stock million. million Capital average expected be excluding to are for interest in the in and net of $XXX million flows expect $XX be expected XX.X operations $XX of to of be taxes cash is Weighted count expenditures flows from to the XXXX non-cash diluted approximately million $XX to are range million,
with effective to range X% you in X% should XX%, of Finally, the to expense of expense tax comprises tax related federal to XX% an items. rate of incremental certain tax XX%, nondeductible rate rate to the taxes, which assume blended state respect and a tax
over basis. compares XX% new over XXXX segment, the of recast XX% In approximately to full the within XX% for the $XXX Industry of percentage revenue. million. to XXXX. midpoint we revenue will growth the our XX%, growth year now within assumes at range in XXXX offerings to add me full regard first growth first offerings new also percentage segment, the of with revenue of sequential increase of midpoint basis. the of Healthcare year high for to color digital margins begin XXXX margins approximately Let in digital our quarter of quarter level starting the XX%, thereafter Industry operating revenue be XXXX inclusive guidance will to full as guidance range in Education will the new that to for revenue mid-teens of growth The reported This year expect for the XXXX, some compares reported segment, be that to and will progresses. With revenues single-digit we recast Commercial for mid- range of The XX.X% which high-teen a percentage reflects of see with be of XXXX, will to single-digit segment. revenue we XXXX, expect year we that will reporting revenue we we to In high growth a a XXXX be the segment. and XX.X% expect expect year expect now mid inclusive a This full on on operating
This XX.X% We recast compares be year XXXX to expect for full to of XX%. in margins basis. operating the our segment in this on a to XX% range
single-digit of percentage and We compared return as full support revenue well some to XXXX, on an meeting corporate basis expenses. year mid- anticipated incremental expect SG&A as some as to growth travel costs unallocated to XXXX a increase we for upper to incur
XX.X% range year the consistent and of guidance and midpoint adjusted that first company, of to quarter, first points compensation on and an these years, in an wage to total in during Huron’s for FICA of reset note retirement-eligible it be is relates be promotion go increases generated revenues, prior full full the expected margin the in of to Based of to on at XXX factors, expense January X compared be to match, XXX(k) basis anticipate Turning to Also, the approximately the quarter. basis employees. XX% EPS of to we restricted for and EBITDA into granted in XX.X% as XXXX. adjusted will wage stock EBITDA increase increase year stock the with expenses: adjusted items awards annual XX% following we our to effect March merit our The our
call adjusted a in items net schedules to measures. respect walk adjusted s. to reminder, income you call there adjusted we to these the reconciliations. with these to included open measures everyone. reconciling will will EPS, and that over when you GAAP the Jim that comparable we help to reconciliation consider As before several closing release XXXX need The turn non-GAAP Jim? now EBITDA, to would I press through back like our Thanks are
