Business

Hewitt reports increase in profit

Posted January 31, 2010 10:00 pm

Hewitt Associates Inc. Monday reported that its first quarter earnings increased 5.6 percent on flat revenue as the company expands its margins.

The Lincolnshire-based a global human resources consulting and outsourcing services firm has been cutting costs as increasing unemployment pressures benefits outsourcing, the largest part of Hewitt's business.

For the first quarter that ended Dec. 31. the company posted a profit of $68.4 million, or 71 cents a share, from $64.8 million, or 68 cents a share, a year ago. Net revenue was virtually unchanged at $770.1 million, compared with $770.8 million in the prior-year quarter.

"Hewitt delivered another quarter of solid operating income growth and margin expansion that was in line with our expectations," said Russ Fradin, chairman and chief executive officer. "We are pleased with how each of our businesses performed in the quarter.

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