exv99w1

Exhibit 99.1

HURON CONSULTING GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)


	Quarter ended												Year ended
	March 31,			June 30,			September 30,			December 31,			December 31,
	2009			2009			2009			2009			2009
Revenues and reimbursable expenses:
Revenues	$	132,379		$	136,182		$	149,013		$	141,884		$	559,458
Reimbursable expenses		12,447			11,714			12,731			10,740			47,632

Total revenues and reimbursable expenses		144,826			147,896			161,744			152,624			607,090
Direct costs and reimbursable expenses (exclusive of depreciation and amortization shown in operating expenses):
Direct costs		81,834			84,821			91,012			85,149			342,816
Intangible assets amortization		1,686			1,087			961			961			4,695
Reimbursable expenses		12,476			11,702			12,718			10,750			47,646

Total direct costs and reimbursable expenses		95,996			97,610			104,691			96,860			395,157

Operating expenses:
Selling, general and administrative		30,808			30,933			27,202			29,481			118,424
Restructuring charges		—			—			1,942			591			2,533
Restatement related expenses		—			385			13,042			4,063			17,490
Depreciation and amortization		5,551			5,638			5,484			5,443			22,116
Impairment charge on goodwill		—			—			67,034			—			67,034

Total operating expenses		36,359			36,956			114,704			39,578			227,597
Other gain		—			2,687			—			—			2,687

Operating income (loss)		12,471			16,017			(57,651	)		16,186			(12,977	)
Other income (expense):
Interest expense, net of interest income		(2,734	)		(3,020	)		(3,256	)		(3,246	)		(12,256	)
Other income (expense)		(473	)		643			1,020			693			1,883

Total other expense		(3,207	)		(2,377	)		(2,236	)		(2,553	)		(10,373	)

Income (loss) from continuing operations before income tax expense		9,264			13,640			(59,887	)		13,633			(23,350	)
Income tax expense (benefit)		4,686			6,890			(18,541	)		4,126			(2,839	)

Net income (loss) from continuing operations		4,578			6,750			(41,346	)		9,507			(20,511	)
Income (loss) from discontinued operations (including loss on disposal of $0.4 million for the three and twelve months ended December 31, 2009), net of tax		2,498			2,896			(22,648	)		4,892			(12,362	)

Net income (loss)	$	7,076		$	9,646		$	(63,994	)	$	14,399		$	(32,873	)


Net earnings (loss) per basic share:
Income (loss) from continuing operations	$	0.23		$	0.34		$	(2.04	)	$	0.47		$	(1.02	)
Income (loss) from discontinued operations, net of tax	$	0.13		$	0.15		$	(1.12	)	$	0.24		$	(0.61	)

Net income (loss)	$	0.36		$	0.49		$	(3.16	)	$	0.71		$	(1.63	)


Net earnings (loss) per diluted share:
Income (loss) from continuing operations	$	0.23		$	0.33		$	(2.04	)	$	0.47		$	(1.02	)
Income (loss) from discontinued operations, net of tax	$	0.12		$	0.14		$	(1.12	)	$	0.24		$	(0.61	)

Net income (loss)	$	0.35		$	0.47		$	(3.16	)	$	0.71		$	(1.63	)


Weighted average shares used in calculating earnings (loss) per share:

Basic		19,528			19,752			20,239			20,271			20,114
Diluted		20,252			20,405			20,239			20,419			20,114

HURON CONSULTING GROUP INC.
SEGMENT OPERATING RESULTS AND OTHER OPERATING DATA
(Unaudited)


	Quarter ended												Year ended
Segment and Consolidated Operating Results (in thousands):	March 31, 2009			June 30, 2009			September 30, 2009			December 31, 2009			December 31, 2009
Health and Education Consulting:
Revenues	$	92,022		$	91,469		$	99,714		$	90,676		$	373,881
Operating income	$	33,640		$	34,430		$	38,676		$	34,549		$	141,295
Segment operating income as a percent of segment revenues		36.6	%		37.6	%		38.8	%		38.1	%		37.8	%
Legal Consulting:
Revenues	$	22,868		$	31,241		$	29,314		$	31,401		$	114,824
Operating income	$	3,241		$	7,715		$	5,360		$	5,719		$	22,035
Segment operating income as a percent of segment revenues		14.2	%		24.7	%		18.3	%		18.2	%		19.2	%
Financial Consulting:
Revenues	$	17,489		$	13,472		$	19,985		$	19,807		$	70,753
Operating income	$	3,670		$	1,918		$	4,421		$	7,196		$	17,205
Segment operating income as a percent of segment revenues		21.0	%		14.2	%		22.1	%		36.3	%		24.3	%
Total Company:
Revenues	$	132,379		$	136,182		$	149,013		$	141,884		$	559,458
Reimbursable expenses		12,447			11,714			12,731			10,740			47,632

Total revenues and reimbursable expenses	$	144,826		$	147,896		$	161,744		$	152,624		$	607,090


Statement of operations reconciliation:
Segment operating income	$	40,551		$	44,063		$	48,457		$	47,464		$	180,535
Charges not allocated at the segment level:
Other selling, general and administrative expenses		22,529			22,408			33,590			25,835			104,362
Depreciation and amortization expense		5,551			5,638			5,484			5,443			22,116
Impairment charge on goodwill		—			—			67,034			—			67,034

Total operating income (loss)		12,471			16,017			(57,651	)		16,186			(12,977	)
Other expense, net		3,207			2,377			2,236			2,553			10,373

Income (loss) from continuing operations before income tax expense	$	9,264		$	13,640		$	(59,887	)	$	13,633		$	(23,350	)


Other Operating Data:

Number of full-time billable consultants (at period end)⁽¹⁾:
Health and Education Consulting		895			868			844			857			857
Legal Consulting		161			141			134			141			141
Financial Consulting		87			89			94			87			87

Total		1,143			1,098			1,072			1,085			1,085
Average number of full-time billable consultants (for the period) ⁽¹⁾:
Health and Education Consulting		902			887			858			854			875
Legal Consulting		162			152			140			140			148
Financial Consulting		92			88			94			91			90

Total		1,156			1,127			1,092			1,085			1,113
Full-time billable consultant utilization rate ⁽²⁾:
Health and Education Consulting		78.0	%		75.3	%		75.1	%		72.4	%		75.3	%
Legal Consulting		53.7	%		61.9	%		58.0	%		54.6	%		57.1	%
Financial Consulting		71.3	%		70.4	%		74.1	%		58.6	%		68.8	%
Total		74.1	%		73.1	%		72.8	%		69.0	%		72.3	%

HURON CONSULTING GROUP INC.
SEGMENT OPERATING RESULTS AND OTHER OPERATING DATA (CONTINUED)
(Unaudited)


	Quarter ended								Year ended
Other Operating Data:	March 31, 2009		June 30, 2009		September 30, 2009		December 31, 2009		December 31, 2009
Full-time billable consultant average billing rate per hour ⁽³⁾:
Health and Education Consulting	$	246	$	262	$	299	$	287	$	272
Legal Consulting	$	233	$	212	$	188	$	192	$	207
Financial Consulting	$	312	$	283	$	329	$	375	$	323
Total	$	250	$	258	$	291	$	285	$	270
Revenue per full-time billable consultant (in thousands):
Health and Education Consulting	$	92	$	93	$	106	$	94	$	385
Legal Consulting	$	57	$	61	$	51	$	45	$	216
Financial Consulting	$	117	$	110	$	133	$	118	$	486
Total	$	89	$	90	$	101	$	90	$	370
Average number of full-time equivalents (for the period) ⁽⁴⁾:
Health and Education Consulting		97		109		107		132		111
Legal Consulting		503		678		645		750		644
Financial Consulting		108		64		106		136		103

Total		708		851		858		1,018		858
Revenue per full-time equivalents (in thousands):
Health and Education Consulting	$	95	$	81	$	85	$	76	$	335
Legal Consulting	$	27	$	32	$	34	$	34	$	129
Financial Consulting	$	62	$	59	$	71	$	67	$	262
Total	$	42	$	41	$	45	$	43	$	171


(1)		Consists of our full-time professionals who provide consulting services and generate revenues based on the number of hours worked.

(2)		Utilization rate for our full-time billable consultants is calculated by dividing the number of hours all our full-time billable consultants worked on client assignments during a period by the total available working hours for all of these consultants during the same period, assuming a forty-hour work week, less paid holidays and vacation days.

(3)		Average billing rate per hour for our full-time billable consultants is calculated by dividing revenues for a period by the number of hours worked on client assignments during the same period.

(4)		Consists of consultants who work variable schedules as needed by our clients, as well as contract reviewers and other professionals who generate revenues primarily based on number of hours worked and units produced, such as pages reviewed and data processed. Also includes full-time employees who provide software support and maintenance services to our clients.