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Timothy McHugh, William Blair & Company

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Manpower Expands Military Recruitment for Australia (Center for Research on Globalization) - Dec 25, 2009

NEW YORK: Manpower Inc has won a $200 million, 27 month contract to run the recruiting program for the Australian military, expanding an earlier deal in what the global staffing services company calls the biggest recruitment outsourcing program in the world. The program for the Australian Defence Force (ADF) will start in February and last 27 months Manpower's services include recruitment functions from marketing and promotion to candidate screening and hiring Because such services generate higher profit margins, the ADF contract could add 10 cents to 14 cents a share to Manpower's earnings next year and in 2011, said William Blair analyst Timothy McHugh 
Recent Research on Manpower Inc. (MAN)
Manpower's Purchase of Comsys Broadens Specialty Staffing Presence (Moody's Global Credit Research)- Feb 08, 2010
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Share:  Because such services generate higher profit margins, the ADF contract could add 10 cents to 14 cents a share to <span class="company">Manpower</span>'s earnings next year and in 2011, said William Blair analyst <span class="analyst">Timothy McHugh</span> Tweet this 

Long-term prospects for a temp staffer (Latest financial news - CNNMoney.com) - Dec 03, 2009

This may disappoint investors who expect a more rapid earnings rebound for the business, and we believe will lead the stock to underperform the market over the next six months." The Bull: Tim McHugh, William Blair "We think Robert Half is a high quality business with good long term growth prospects, a proven management team, and the highest returns on capital in the industry. "The stock is trading at a valuation that is close to the levels it has historically troughed at during a recession. Right now it trades at 12 times its prior peak earnings per share. If you went back to the trough of the last cycle, the lowest price it reached was 13 times the prior peak EPS during that cycle. 
Recent Research on Robert Half International Inc. (RHI) more research
Share:  The Bull: <span class="analyst">Tim McHugh</span>, William Blair "We think <span class="company">Robert Half</span> is a high quality business with good long term growth prospects, a proven management team, and the highest returns on capital in the industry. Tweet this 

Hewitt Q4 profit soars, sees 2010 EPS above Street (Reuters UK) - Nov 10, 2009

* Q4 EPS $0.68 vs $0.32 a year ago . * Revenue falls 6 pct * Sees 2010 EPS $2.85 $2.95 * Shares rise 5 pct (Recasts; adds analyst comments, background, share movement) By Divya Sharma BANGALORE, (Reuters) , Human resource services company Hewitt Associates Inc's ( HEW.N ) quarterly profit more than doubled, helped by lower operating expenses, and it forecast 2010 earnings above market estimates, sending its shares up to a 14 month high. Hewitt said it sees low to mid single digit net revenue growth in 2010, with solid growth in consulting and a flat performance in benefits outsourcing. "The consulting business will be helped by currency benefits and continued steady growth in their core retirement and financial management practice area," William Blair & Co analyst Timothy McHugh said. The impact of unemployment and pricing pressure on Hewitt's benefits outsourcing segment. 
Recent Research on Hewitt Associates, Inc. (HEW)
Hewitt Associates 2010 Annual Stockholder Meeting (Thomson Street Events)- Jan 27, 2010
Q4 2009 Hewitt Associates Earnings Conference Call (Thomson Street Events)- Nov 10, 2009
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Share:  "The consulting business will be helped by currency benefits and continued steady growth in their core retirement and financial management practice area," William Blair & Co analyst <span class="analyst">Timothy McHugh</span> said. Tweet this 

UPDATE 1-Hewitt Associates Q4 profit more than doubles (Reuters) - Nov 10, 2009

* Q4 EPS $0.68 vs $0.32 a year ago . * Revenue falls 6 pct * Sees 2010 EPS $2.85 $2.95 * Shares rise 5 pct (Recasts; adds analyst comments, background, share movement) By Divya Sharma BANGALORE, (Reuters) , Human resource services company Hewitt Associates Inc's ( HEW.N ) quarterly profit more than doubled, helped by lower operating expenses, and it forecast 2010 earnings above market estimates, sending its shares up to a 14 month high. Hewitt said it sees low to mid single digit net revenue growth in 2010, with solid growth in consulting and a flat performance in benefits outsourcing. "The consulting business will be helped by currency benefits and continued steady growth in their core retirement and financial management practice area," William Blair & Co analyst Timothy McHugh said. The impact of unemployment and pricing pressure on Hewitt's benefits outsourcing segment. 
Share:  "The consulting business will be helped by currency benefits and continued steady growth in their core retirement and financial management practice area," William Blair & Co analyst <span class="analyst">Timothy McHugh</span> said. Tweet this 

RPT-UPDATE 4-Adecco boosts professional staffing in $1.3bln buy (Interactive Investor) - Oct 20, 2009

"We do not expect any significant changes in the competitive environment in the near term," William Blair analyst Timothy McHugh wrote in a research note. "We have no reason to believe that any other companies in this space are close to merging with another company, and Adecco has said that the MPS transaction will be its last major acquisition for a while." . Adecco will now focus on organic growth, De Maeseneire told Reuters. "The big acquisitions are done now," he said. "We now have a strong platform to grow organically." . 
Share:  "We do not expect any significant changes in the competitive environment in the near term," William Blair analyst <span class="analyst">Timothy McHugh</span> wrote in a research note. Tweet this 

Adecco boosts professional staffing in $1.3bln buy (Forexyard) - Oct 20, 2009

"We do not expect any significant changes in the competitive environment in the near term," William Blair analyst Timothy McHugh wrote in a research note. "We have no reason to believe that any other companies in this space are close to merging with another company, and Adecco has said that the MPS transaction will be its last major acquisition for a while." Adecco will now focus on organic growth, De Maeseneire told Reuters. "The big acquisitions are done now," he said. "We now have a strong platform to grow organically." 
Share:  "We do not expect any significant changes in the competitive environment in the near term," William Blair analyst <span class="analyst">Timothy McHugh</span> wrote in a research note. Tweet this 

"We do not expect any significant changes in the competitive environment in the near term," William Blair analyst Timothy McHugh wrote in a research note. "We have no reason to believe that any other companies in this space are close to merging with another company, and Adecco has said that the MPS transaction will be its last major acquisition for a while." Adecco will now focus on organic growth, De Maeseneire told Reuters. "The big acquisitions are done now," he said. "We now have a strong platform to grow organically." 
Share:  "We do not expect any significant changes in the competitive environment in the near term," William Blair analyst <span class="analyst">Timothy McHugh</span> wrote in a research note. Tweet this 

William Blair upgrades Corporate Executive Board, expects ... (Washington Examiner) - Sep 22, 2009

NEW YORK — William Blair & Co upgraded consultancy Corporate Executive Board Co to its highest rating Tuesday, saying corporate spending on consulting services will improve next year. "We are increasingly hearing from professional services companies that while demand has not yet improved much yet, the tone of conversations with their clients is becoming more positive and its feels as though the trough in demand was probably reached this summer," wrote analyst Timothy McHugh in a note to investors. He said that a visit to Corporate Executive's headquarters had reassured him that internal management problems wouldn't present a significant roadblock to benefiting from a recovery in the broader economy. The stock is an attractive buy right now, McHugh said, "even if we assume a very muted recovery in revenue and profit margins during the next few years." 
Recent Research on The Corporate Executive Board Co. (EXBD) more research
Share:  "We are increasingly hearing from professional services companies that while demand has not yet improved much yet, the tone of conversations with their clients is becoming more positive and its feels as though the trough in demand was probably reached this summer," wrote analyst <span class="analyst">Timothy McHugh</span> in a note to investors. Tweet this 

Ahead of the Bell: Corporate Executive Board (CNBC) - Sep 22, 2009

NEW YORK , William Blair & Co upgraded consultancy Corporate Executive Board Co to its highest rating Tuesday, saying corporate spending on consulting services will improve next year. "We are increasingly hearing from professional services companies that while demand has not yet improved much yet, the tone of conversations with their clients is becoming more positive and its feels as though the trough in demand was probably reached this summer," wrote analyst Timothy McHugh in a note to investors. He said that a visit to Corporate Executive's headquarters had reassured him that internal management problems wouldn't present a significant roadblock to benefiting from a recovery in the broader economy. The stock is an attractive buy right now, McHugh said, "even if we assume a very muted recovery in revenue and profit margins during the next few years." . 
Share:  "We are increasingly hearing from professional services companies that while demand has not yet improved much yet, the tone of conversations with their clients is becoming more positive and its feels as though the trough in demand was probably reached this summer," wrote analyst <span class="analyst">Timothy McHugh</span> in a note to investors. Tweet this 

Ahead of the Bell: Huron Consulting u... (The Associated Press) - Aug 20, 2009

On average, analysts polled by Thomson Reuters expect earnings of $1.82 per share in 2009. William Blair analyst Timothy McHugh in a note said that Huron's new management noted in a conference call on Wednesday that the restatement, SEC probe and share price plunge has had minimal affect on its business. Copyright © 2009 The Associated Press. 
Recent Research on Huron Consulting Group Inc (HURN) more research
Share:  William Blair analyst <span class="analyst">Timothy McHugh</span> in a note said that Huron's new management noted in a conference call on Wednesday that the restatement, SEC probe and share price plunge has had minimal affect on its business. Tweet this 

Huron shares plummet amid accounting scandal (Reuters) - Aug 03, 2009

CHICAGO (Reuters) , Huron Consulting Group Inc ( HURN.O ), which helps clients dodge accounting pitfalls and stay on the right side of the law, was itself facing a major corporate meltdown on Monday from an accounting scandal that triggered a loss of more than two thirds of its market value. Chicago based Huron, which rose in 2002 from the ashes of collapsed accounting giant Arthur Anderson, said late on Friday that its entire top management team would leave the company and that it would restate more than three years of results. The restatement means the company's earnings for that period would be slashed almost in half because it had misreported costs related to acquisitions. "As a professional services company with a relatively high amount of debt, it is not implausible to argue that this event causes the company to languish for an extended period of time or eventually unravel," said Timothy McHugh, an analyst at William Blair & Company, which owns 2.54 percent of Huron's shares according to Reuters Knowledge.  
Share:  "As a professional services company with a relatively high amount of debt, it is not implausible to argue that this event causes the company to languish for an extended period of time or eventually unravel," said <span class="analyst">Timothy McHugh</span>, an analyst at William Blair & Company, which owns 2.54 percent of Huron's shares according to Reuters Knowledge. Tweet this 

Expanded US financial regulation to benefit consultants (Reuters) - Jul 29, 2009

* Strong 2010 earnings expected By Sweta Singh NEW YORK, (Reuters) , Expanded regulation of the U.S financial sector could prove a bonanza in 2010 for Navigant Consulting Inc ( NCI.N ) and other firms that help companies handle investigations. Navigant and rivals Huron Consulting Group Inc ( HURN.O ), FTI Consulting Inc ( FCN.N ) and CRA International Inc ( CRAI.O ) provide experts, including lawyers, to help companies deal with regulatory probes. "A shared view among many investors is that changing regulatory landscape and the building amount of litigation should be increasing the amount of work for consulting companies," said Timothy McHugh of William Blair & Co. The Obama administration's proposed budget for fiscal 2010 would boost the U.S. Securities and Exchange Commission's budget by nearly 7 percent, giving it more funds to investigate companies. The SEC is also expected to tighten oversight of corporate governance, mutual funds and scrutiny of investment advisers. 
Recent Research on Navigant Consulting, Inc. (NCI)
Q3 2009 Navigant Consulting Earnings Conference Call (Thomson Street Events)- Oct 29, 2009
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Share:  "A shared view among many investors is that changing regulatory landscape and the building amount of litigation should be increasing the amount of work for consulting companies," said <span class="analyst">Timothy McHugh</span> of William Blair & Co. Tweet this 

CRA is poised for big growth, analyst says (Boston.com Top Business News) - Jul 28, 2009

Shares of CRA International Inc jumped after William Blair analyst Timothy McHugh boosted his rating on the Boston based management and financial consulting company to "outperform,'' saying it's poised for big earnings growth as the economy recovers. The stock was up 9 percent this year as of last week's close. Demand for business consulting has plummeted during the recession, but demand for CRA's business strategy services is going to increase over the next several years as the economy recovers, while antitrust actions by the government will boost its regulatory practice, McHugh said. 
Recent Research on CRA International, Inc (CRAI)
Q4 2009 Charles River Associates Earnings Conference Call (Thomson Street Events)- Jan 14, 2010
Q3 2009 Charles River Associates Earnings Conference Call (Thomson Street Events)- Oct 01, 2009
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Share:  Shares of <span class="company">CRA International Inc</span> jumped after William Blair analyst <span class="analyst">Timothy McHugh</span> boosted his rating on the Boston based management and financial consulting company to "outperform,'' saying it's poised for big earnings growth as the economy recovers. Tweet this 

CRA International Shares Rose After Being Upgraded By An Analyst ... (Comtex Smartrend) - Jul 27, 2009

By Chip Brian, SmarTrend Analytics Team 7/27/2009 , CRA International Inc ( NASDAQ:CRAI ) shares jumped Monday after an analyst with William Blair upgraded the company from "market perform" to "outperform". Shares rose about 10.3% in midday trading. Analyst Timothy McHugh said that the company is poised for big earnings growth as the economy recovers and said that broader demand for business consulting services may be gradually getting better, while CRA's individual corporate consulting operations are improving thanks to some contracts in the Middle East. Write to Chip Brian at cbrian@tradethetrend.com . 
Share:  Analyst <span class="analyst">Timothy McHugh</span> said that the company is poised for big earnings growth as the economy recovers and said that broader demand for business consulting services may be gradually getting better, while CRA's individual corporate consulting operations are improving thanks to some contracts in the Middle East. Tweet this 

CRA International upgraded, shares bounce (PalmBeachPost.com - Business news from the AP) - Jul 27, 2009

CRA International upgraded, shares bounce NEW YORK — Shares of CRA International Inc jumped Monday after a William Blair analyst boosted his rating on the management and financial consulting company, saying it's poised for big earnings growth as the economy recovers. "This upgrade could be somewhat early," wrote analyst Timothy McHugh in a note to investors.  
Share:  "This upgrade could be somewhat early," wrote analyst <span class="analyst">Timothy McHugh</span> in a note to investors. Tweet this 

Hill International takes hit on Middle East exposure (Philadelphia Inquirer) - Jul 01, 2009

Hill International takes hit on Middle East exposure By Sonja Ryst Inquirer Staff Writer Hill International Inc.'s chief executive officer, Irvin Richter, has had to deal with investors who think construction projects and the Middle East are a scary combination. Hill's "exposure to the Mideast has given people pause," said Timothy McHugh, an analyst at William Blair & Co. L.L.C. Hedge funds, in particular, have dumped the company's stock, making its 39 percent drop one of the steepest among local companies in the first half of 2009.  
Recent Research on Hill International Inc (HIL)
Q3 2009 Hill International, Inc. Earnings Conference Call (Thomson Street Events)- Nov 05, 2009
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Share:  Hill's "exposure to the Mideast has given people pause," said <span class="analyst">Timothy McHugh</span>, an analyst at William Blair & Co. L.L.C. Hedge funds, in particular, have dumped the company's stock, making its 39 percent drop one of the steepest among local companies in the first half of 2009. Tweet this 

Huron Consulting ready for boost in health (Crain's Chicago Business) - Jun 22, 2009

Job one: Using his newly created position to improve Huron's internal operations, which he says will free up CEO Gary Holdren to "spend more time working with our clients and growing the business." Obstacles: Huron will "need to find new areas of growth" beyond hospitals for its health care division, Chicago based William Blair & Co. LLC analyst Timothy McHugh says. Possibilities include insurers and pharmaceutical firms, he says. The plan: Grow Huron's two key areas, higher education and health care, which account for nearly 60% of total revenue. 
Share:  Obstacles: <span class="company">Huron</span> will "need to find new areas of growth" beyond hospitals for its health care division, Chicago based William Blair & Co. LLC analyst <span class="analyst">Timothy McHugh</span> says. Tweet this 

BUY OR SELL-Are HR consultancy firms losing their charm? (Reuters) - May 26, 2009

FEELING THE HEAT "One of the risks, more so for a company like Hewitt, which generally gets a larger share of its revenue from benefits outsourcing, is that they may see a recent increase in unemployment impact that part of the business later this year," William Blair's Timothy McHugh said. UBS analyst Jason Kupferberg, who has "hold" rating on Hewitt's stock, said he would wait until there are some more tangible signs of economic improvement and for clients to become "more comfortable" spending on discretionary projects. 
Share:  FEELING THE HEAT "One of the risks, more so for a company like <span class="company">Hewitt</span>, which generally gets a larger share of its revenue from benefits outsourcing, is that they may see a recent increase in unemployment impact that part of the business later this year," William Blair's <span class="analyst">Timothy McHugh</span> said. Tweet this 

Temp Giant Robert Half Welcomes Boomers (BusinessWeek) - May 21, 2009

The company has little debt and may gain as skittish companies turn to temporary staffing to fill jobs. As Tim McHugh, an analyst at William Blair, notes: "Throughout its history, RHI has gained market share during each recession." McConnon is a staff editor for BusinessWeek in New York. 
Share:  As <span class="analyst">Tim McHugh</span>, an analyst at William Blair, notes: "Throughout its history, <span class="company">RHI</span> has gained market share during each recession." Tweet this 

Monster Worldwide shares jump on analyst upgrade (Forbes) - Apr 13, 2009

The deterioration of the newspaper industry should propel growth for online recruiting companies like Monster Worldwide Inc., an analyst said, upgrading the company and boosting its shares 17 percent. William Blair analyst Timothy McHugh also said Monster's recent technology adjustments improved the ratio of Web site visitors who converted to job applications.  
Recent Research on Monster Worldwide Inc (MWW) more research
Share:  William Blair analyst <span class="analyst">Timothy McHugh</span> also said Monster's recent technology adjustments improved the ratio of Web site visitors who converted to job applications. Tweet this 

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Timothy McHugh

William Blair & Company

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