Hewitt first-quarter income tops last year, but revenue down

Hewitt Associates Inc., a Lincolnshire-based global human resources services company, reported that its net income increased to $64.8 million, up 1.3 percent to 68 cents a diluted share from the year ago $63.9 million, or 59 cents a share.

The company reported that revenues dropped 2.9 percent to $770.8 million from a year ago when it was $793.8 million.

Excluding special items, Hewitt reported that its underlying pretax income was up 12 percent at $112.4 million compared with the year ago $100.4 million.

"We are taking the right actions to continue our progress in this challenging environment -- namely marketing aggressively where new opportunities are emerging, investing in enhancing our product lines, and continuing to streamline our cost structure," said Russ Fradin, chairman and chief executive officer. "I am particularly pleased with our strong growth in Consulting, meaningful overall margin expansion, and the exceptional effort from the Hewitt team under such difficult conditions."

• Daily Herald staff writer Kim Mikus contributed to this report.