NEW YORK (AP) -- Towers Watson & Co., a risk management and human resources consulting company, said Monday that its second-quarter net income rose 39 percent as revenue improved across all business segments.
The company also boosted its fiscal 2012 adjusted earnings forecast
Towers Watson reported net income of $66.9 million, or 92 cents per share, for the three months ended Dec. 31. That's up from earnings of $48.1 million, or 65 cents per share, a year earlier.
Excluding severance costs, stock-based compensation expense and other items, earnings were $1.35 per share.
Analysts polled by FactSet expected earnings of $1.20 per share.
Revenue increased 11 percent to $879.7 million from $790.7 million, beating Wall Street's $845.3 million estimate.
Revenue for the benefits segment rose 8 percent to $476 million, while risk and financial services revenue climbed 19 percent to $205 million. Revenue for the talent and rewards unit increased 15 percent to $169 million.
Towers Watson now expects full-year adjusted earnings of $5.05 to $5.15 per share on revenue of $3.41 billion to $3.46 billion. Its prior guidance was for adjusted earnings between $4.95 and $5.10 per share.
For the third quarter, the company foresees adjusted earnings in a range of $1.31 to $1.36 per share on revenue of $875 million to $900 million.
Analysts predict full-year earnings of $5.02 per share on revenue of $3.44 billion and third-quarter earnings of $1.38 per share on revenue of $901.8 million.
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