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Huron Consulting Group Inc. 2007 Annual Report PDF

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H u ro n C o n s u ltin g G ro u p 2 0 0 7 A n n u a l R e p o rt 2007Annual Report Certno.SW-COC-1613 ©2008HuronConsultingGroupInc.Allrightsreserved. Company Information CorporateOffice InvestorRelations TransferAgent HuronConsultingGroupInc. GaryL.Burge ComputershareShareholderServicesInc. 550W.VanBurenStreet VicePresident,ChiefFinancialOfficer P.O.Box43078 Chicago,IL60607 andTreasurer Providence,RI02940-3078 312-583-8700 312-583-8722 312-360-5208 www.huronconsultinggroup.com [email protected] www.computershare.com/contactus MediaContact CorporateSecretary StockMarketInformation JenniferFrostHennagir NataliaDelgado CommonStockistradedonthe Director VicePresident,GeneralCounsel NASDAQGlobalSelectMarket 312-880-3260 andCorporateSecretary underthesymbolHURN [email protected] 312-583-8790 [email protected] IndependentAccountants PricewaterhouseCoopersLLP OneNorthWacker Chicago,IL60606 Annual Meeting of Stockholders 11:00a.m.EDT,Wednesday,May7,2008 HuronConsultingGroup SixConcourseParkway,Suite2050 Atlanta,GA30328 Stock Performance ThefollowinggraphandtablecomparethecumulativetotalshareholderreturnonourcommonstockfromOctober13,2004(thedaywebegantradingas apubliccompany),throughDecember31,2007,againstthecumulativetotalshareholderreturnofTheNASDAQStockMarketIndexandthestocksmak- ingupanindustrypeergroup.Thepeergroupiscomprisedofthefollowingcompanies:CRAInternational,Inc.,FTIConsulting,Inc.,LECGCorporation, NavigantConsulting,Inc.andResourcesConnection,Inc.Thegraphandtableassumea$100investmentinHuronConsultingGroupInc.commonstock, TheNASDAQStockMarketIndex,andanindexofourpeergrouponOctober13,2004,andanydividendsareassumedtobereinvested. $600 $500 $400 $300 $200 $100 Oct 2004 2005 2006 2007 2004 ValueofInvestment 10/13/04 12/31/04 12/31/05 12/31/06 12/31/07 %Return HuronConsultingGroupInc. $100.00 $143.23 $154.77 $292.52 $520.19 420% TheNASDAQStockMarketIndex $100.00 $113.27 $114.83 $125.76 $138.10 38% PeerGroupIndex $100.00 $117.98 $115.28 $131.01 $216.96 117% Form 10-K HuronConsultingGroupInc.willprovidetoanyinvestor,withoutcharge,acopyofitsannualreport(whichincludestheCompany’sAnnualReporton Form10-KasfiledwiththeSecuritiesandExchangeCommission).CopiesofalltheexhibitsasfiledwiththeSecuritiesandExchangeCommissionwillalso beprovidedwithoutchargeuponspecificrequest.RequestscanbemadeviatheCompany’swebsiteatwww.huronconsultinggroup.com. Forward-Looking Statements StatementsinthisAnnualReportthatarenothistoricalinnatureandconcernHuronConsultingGroup’scurrentexpectationsabouttheCompany’sfuture resultsin2008are“forward-looking”statementsasdefinedinSection21EoftheSecuritiesExchangeActof1934andthePrivateSecuritiesLitigation ReformActof1995.Forward-lookingstatementsareidentifiedbywordssuchas“may,”“should,”“expects,”“plans,”“anticipates,”“believes,”“estimates,” or“continues.”Theseforward-lookingstatementsreflectourcurrentexpectationaboutourfutureresults,levelsofactivity,performanceorachievements, includingwithoutlimitation,thatourbusinesscontinuestogrowatthecurrentexpectationswithrespectto,amongotherfactors,utilizationrates,billing rates,andnumberofrevenue-generatingprofessionals;thatweareabletoexpandourserviceofferings;thatwesuccessfullyintegratethebusinesseswe acquire;andthatexistingmarketconditionsdonotchangefromcurrentexpectations.Thesestatementsinvolveknownandunknownrisks,uncertainties andotherfactorsthatmaycauseactualresults,levelsofactivity,performanceorachievementstobemateriallydifferentfromanyfutureresults,levelsof activity,performanceorachievementsexpressedorimpliedbytheseforward-lookingstatements.Therefore,youshouldnotplaceunduerelianceonthese forward-lookingstatements.Pleasesee“RiskFactors”inour2007annualreportonForm10-KandinotherdocumentswefilewiththeSecuritiesand ExchangeCommissionforacompletedescriptionofthematerialrisksweface. Huron Consulting Group 2007 Annual Report Mary Sawall • Timothy D. Patterson • Daniel Wikel • Erika Wingate • Heather Albright • Lisa Berrus • LaTonya Butler • Eliza Cumberland BrookeM.Davis•DanielR.Delaney•JamesDondero•GuyE.Galbreth•RobertHaskin•DanaHayes•ThomasO.Healy•WendyHernandez Phyllis S. Jones-Butler • Kerri H. Lin • David Majors • Katie McLean • Marc M. Milanowski • Stacie Neeter • Joseph G. Pope • Isabelle Praud Peter Resnick • Carol Sabransky • Kevin Sadowski • John Sawtell • Jeffrey Szafran • Carolina Woodard • Zachary Gamblin • Scott Hepburn SusanM.Sallas•MelanieSutton•TimothyD.Zeldenrust•JamesD.Zinn•ZacharyT.Belton•KellyM.Struck•StephenBurns•DianeL.Doherty Kevin Eskew • Nathan L. Haines • Lee Ann Asiaf Manning • Ryan M. McDaniel • Greg W. Naviloff • Kelley Schauenberg • John E. Steele Anne M.Sullivan •Andrew M. Vahey • Laura Zimmermann •ArjunAggarwal • BretBaccus • Shahzad Bashir • Gregory Bedell • David Borghesi Laura L. Burgos • Craig P. Casey • Paul Charnetzki • Kevin Clem • Peter Eschenbach • Barbara Finnegan • Joseph Floyd • Susan Gallagher Gary Holdren •Andrew Horner • Pamela Hurlock • Carrie J. Hurney • Shandy Husmann • Michael J. Kennelly • James Leach • Brian Linscott James Lukenda • Michael F. O’Connor • Michael K. Phillips • Natalie Ponder • Gerald Richardson • James Roth • Joy Saphla • Robin Snasdell LisaC.Snow-Turrinelli•MatthewW.Staman•MichaelC.Sullivan•JohnSullivan•LeeA.Sweigart•JosephTaylor•JenniferTobin•AngelaTsai Kathryn Vernau • Joy Walton • Greg Westfall • Laura Yaeger • Steven J. Young • Costa Magas • Matt Wise • Charles W. Nunemaker Preston C. Holdren • Marjorie R. Small • Linda Young • James Mitchell • Riccardo M. Nunziati • Nicole C. Pollack • Robert W. Lashway DeborahJ.Douglas•PatriciaJ.Sage•DanielBroadhurst•SeanP.Galligan•JonP.Klerowski•DavidA.Mercier•JoelOstiguy•KimberlyRichmond Loren Trimble • Veronica Garcia • Maureen T. Hamner • Thomas A. Lepczynski • James L. Knight • Richard L. Seleznov • Brandi Long Katie L. Penn • Javier Garza • Marc Mercier • George Massaro • Russell W. Bertuccelli • William A. Jenkins • Rosemary Quattrucci JohnH.Hutchinson•SalvatorreMessina•MicheleS.Girdharry•LindaA.DelgadoTonkaMaljevic•DeniseS.Metke•JanaAmes•GaryL.Burge Joseph Decilveo • Brian P. Hastings •Adam E. Jaffe • RobertAllgyer •A. Seth Palatnik • Jennifer J. Frost-Hennagir • Stephen H. Jozefowski SusanA.McLeish•KerryVasta•NickP.Zaccagnini•JayM.Loudermilk•L.AllenArnett•NicholasK.Long•MarkJ.O’Connell•BrianHacias BethA. Lange • David Hanfland • Judith Roberts • RebeccaAslin • GaryArrick • Lisa Olson • Kelly Sova • Richard Pimentel •Alison Schwarz MaryAnnSignorelli•StephenJ.Burlone•DavidS.McLaughlin•KirstenGross•KimberlyFisher•ChristopherO.Mackie•TimothyJ.Lefkowicz KathyJ.Naughton•MargaretO’Donnell•ChristopherRohn•JohnR.Sasaki•RobertSammon•RyanNewman•LorenS.Mann•DavidE.Brown ElizabethA.Freking•MargaretKosirog•JasonMoebius•KathrynO’Connell•JessicaParisi•EricM.Plutnicki•ScottW.Springer•YvonneStarks LourdieFabien•TroyG.Griffin•LizzieSayson•BenjaminV.Smith•JeffBeecham•IqbalDhaliwal•RobertFraga•KimberlyB.Griffin•MarkGrover JohnA.Hemingway•AndreaGreene•RobinLoundy•AshokePrasad•JohnE.Szymanski•RebeccaVelez•MatthewJ.Fisher•CynthiaA.Raaf Rob Vanderbeek • Brian Buebel • Brent Johnson • Parijat Sharma • Christopher Apicerno • Elizabeth Gartner • Silke K. Gwinn • Tripp Piper Christina M. Thrall • Joseph Todd • Gary Byers • Sheila Ganir • Karen Iocca • John O’Connor • Scott Curtis • Jeffrey Feeley • Wayne Lipski ColleenScimeca•LauraConnor•BrandiFlanagan•WandaForrest•DavidMeilstrup•JoelTurney•KellyRobinson•DeniseCrocker•KevinSiena SumitDangi•TamikaTremaglio•GreggParks•MarcB.Sherman•KevinP.McGowan•DouglasC.Tilghman•MichaelWeil•MaryCzyszczon SarahEisenberg•LisaPinedaBeatty•BernardJ.Trombley•MaryWalcott•NancyOlvera•VincentPanepinto•DerekSmith•ChristineH.Beliveau DouglasMiller•LindaBailey•MichaelGorman•DonnaJ.Nauta•KimberlyO’Neil•TiffanyCampbell•JulieM.McKenzie•DorothyDeAngelis Catherine Buscemi • Nancy Jessen • Deborah Hackett • James Stuart • Elizabeth Bonacci • Brian Christie • Anaceli Leon • Sally Hunneke Ryan McHugh • Joseph A. Purri • Kathleen McArthur • Michael Kalb • Lisa Robison • Nicholas Gallegos • Brian Goetsch • Cara Grib MatthewKrizmanich•T.J.Laesch•JulietaMundo•JohnPiatek•ToddA.Tennell•ToddGlomb•DuaneHarrington•ParagRajpal•EllenWong Susan Fedorchak • Michael Ferson • Mark O’Hara • Darina Denkova • Gil Krakowsky • Pratik Patel • Susan Quinlan SarahScherrer•JosephWyss•MarisaZuskar•ThomasBechert•HermanChen•CeliaGravely•MichaelLanda•JonathanVito•MarilynButler JohnHanson•JohnnyTong•ColbyWalter•DavidWeber•EvanBartell•BethKennedy•BillO’Hara•JosephPedota•HeatherRudy•PeterShaw ColleenM.Sullivan•CherylWood•NataliaDelgado•JeffreyEllis•ChristopherYeagle•ThomasChampagne•AnnHarris•CharlieAlexander MonicaMacGregor•MukeshGangwal•AndrewGastwirth•AmyE.Gonzalez•BlaineM.Hyde•MichelleScheid•MichaelIndia•RobbiKramer John Storino • Patrick Hennessy • Neeru Khanuja • Gregg Sutfin • John Weber • Vernon Dandridge • Clayton L. Green • Duane Campbell DavidA.Howard•DianeE.Ratekin•JasonSmith•RichardSimon•BrianT.Asby•CharlesP.Lazzara•JoshuaM.Leventhal•MichaelMcDonald Serena Matsunaga • Richard J. Merino • Susan N. Ein • Brian A. Stang • Belinda Vela • Brian Bondad • Jeffrey E. Griffiths • Kerry Gannon JulietCaven•AlbertLuk•MarkMurungaru•PurabZ.Raipanchola•MikeTsoi•MeganBudny•PaulSaias•EricJ.Montanye•GilbertoAlcantar KimberlyG.Counts•SusanKalisewicz•EdiGrgeta•AnaM.Barella•ThomasW.Burns•TimothyJ.Fagan•ShaniMahany•JohnH.Sudduth DavidG.Briscoe•DavidP.McDonough•DavidA.Rock•MichaelM.Smith•PatrickYoung•MarcJohnson•RajanC.Patel•AllisonM.Pirret Ruben Estrada • David Kolodziejski • Jennifer Lau • F. Lisa Murtha • Alex R. Rice • Nashan Vassall • Rose Britt • Meredith Colagiovanni Tom DeMinico • Gregory W. Dors • Jacqueline Gena • Dawn Gideon • Nathan Kocon • Jan Radke • Jerry Swarzman • Sandy Sword Maureen S. Loftus • Allecia Alexander Harley • Idris Khajanchi • Shabaki Lambert • TJ Schaffner • Jeffrey C. Seymour • Kevin Delaney John F. Jones • Jacqueline L. O’Loughlin • Bradford Romano • Xiaoxuan Wang • William Bonner • Jennifer Chang • Heather Drennan KennethKratovil•BrettAnderson•ColeyP.Brown•DavidChristensen•RobertH.Crissman•LeonChang•DanielP.Coppola•LauraA.Hajovsky EvanKatzman•JohnD.VerMeulen•DirkVerMeulen,Jr.•LizWeir•PaulZimmerman•KimberlyA.Kordecki•DavidN.Paris•AllynD.Strickland Joseph W. Hendrickson • Irene Balotro • Elizabeth Barraza-Redd • Jeanene M. Johnson • Ryan S. Knickerbocker • Sook J. Lee • Moriah Britt SamuelJ.DiSalvo•PeterEilhauer•KariGrendahl•JulieE.Johnson•JosephLam•JamesB.McHugh•JenniferL.Moskowitz•BarryG.Radick MichaelK.Sullivan•PaulL.Wolfert•StephanieD.Yang•LonnieYates•DracoD.Forte•JohnK.Morris•JaneanneNemeth•AmberL.Rychetsky FrayaL.Hirschberg•KarissaK.Marsh•MichaelG.Mavros•JosephG.Gow•ClaytonBenn•JulieSotiropoulos•JasonA.Weaver•WilliamWebb HajYoung•CarrieBaumgardner•JaniceG.Jacobs•MichaelE.Shea•ShawnLemerise•ChristyMignacca•KevinJ.Gaudet•BrianR.Brate KaliE.Crocker•TimothyFetter•BrianHeinimann•TejasKheradiya•HeidiY.Kim•NathanLohmeyer•DavidOlson•AdamRhodes•AartiRupani Deepak Sabiki • Alma Sahmanovic • Kabir Sawhney • Michael B. Shea • Vincent Tan • Rachel Trafford • Andrew Vachris • David Wong Wilma Wyngaart • John R. Curry • Jordan L. Donsky • Dan Gordish • Stephen L. Holloway • Hong-Shik Kim • PaulA. Marcus • Kristen Roth 2 Rob Wren • Brian T. Lee • Rashid Ali • Shawn M. Christen • Erik C. Harssema • Ann Marie Kartsounes • David Klipa • Venice M. Meyer BrianD.Notz•LaTiaRenfrow•DhyiaThompson•KarlaKauffman•KathyJ.Adair•ArleenM.Bernardi•SusanChapdelaine•JimG.Coulson Craig H. Lippman • Teresa S. Harrington • Duke Alden • Kamal B. Calloway • James W. Kemp • Phillip D. Kim • Domenic J. Champa Tim Wondolowski • Harry Weis • Danish M. Butt • Kimberly Basmajian • James DeVaney • Michael S. Kim • Meghan M. Davis Delphine A. Mendez de Leon • Peter J. Chun • Leah B. Guidry • Alison L. Sawyer • Fleming Puckett • Mi-Goung Choi • Cathy Grzela Jean A. McIntyre • Christopher E. Powers • Jessica Richardson • Jim O’Malley • Gayla Dodson • Douglas L. Kell • Maneesha Khandelwal Scott Lyons • John S. Bain • Darryl Chapman • Craig S. Richmond • Richard E. Rohrbach • John Sites • Sidney R. Bradley • Danny Kosanovic Diana A. Teri • Katherine A. DaRin • Jerry L. Bitter • Daniel Vergauwen • Bernard G. Hillengas • Michael Stevens • Ken U • Kevin R. Byerly Carrie L. Clark • Kevin Curry • Deborah L. Dotson • Trent Haines • Kathryn Parolin • John E. Moose • Kathleen Dasko • KristenA. Pawlowski MauraDriscoll•ScottGillis•PranavGupta•JohnHowlett•LarryJones•ChrisLyon•JulieMalvasi•JenniferMartin•LindseyMay•TedMcCarthy Leroy J. Mergy • Jason Milesko • Daniel Rachlis • John W. Reuter • Joseph Shalleck • Vimal Vora • Michelle L. Conforti • Steven Ginsburg Manfred Krebs • Michael P. Abasciano • Jennifer Bezdicek • Vishal Bhandari • Timothy E. Flake • Scott E. Friedman • Jennifer L. Richards Katherine H. Crawford • Mark A. DeWyngaert • Gary T. Long • Susan Santoro • Rebecca M. Shepkowski • Paul J. Silver • Michael Brunson Joseph A. DiSalvatore • Jerome E. Foster • Bill Stewart • Adam Farber • Sammie Huang • Andrew L. Laws • Matt Anderson • Kelley Clark KennethJ.Evola•ByongKim•DebKorak•StanleyN.Logan•DerickChampagne•FrankJ.Conte•KevinL.Cook•DebjitGhosh•BethA.Hunt Jason M. Sevier • Drew R. Shinick • Brandon D. Solomon • Jalil Ahad • Michael Akinyele • Kenneth Chan • Vinjola Dhamo • Jeffrey Gray RohitGulati•NitinGupta•StephanieHunter•CarolineJohnston•GlennMessenger•IsaacL.Sessoms•AmerR.Shaikh•JeremyD.Stenger ElizabethJ.Davis•FayeD.Adams•DavidH.Burris•MatthewLester•JenniferE.Miller•DavidReiter•NeemaThachet•ThomasJ.Christman Buffy J. Beattie • Destiny L. Thompson • Snow X. Cheng • Dean G. Christopher • Christina C. Davis • Geneva M. Edwards • Kelly L. Fallon JorgeE.Flores•JenniferM.Glusica•PhilipE.Grodin•ChauHoang•DylanKalbacher•ThomasH.Kim•BradleyJ.Koehler•AlexV.LeBuffe DediG.Matayo•RobertW.Meier•PatrickW.Muzin•RicardoA.Nieto•RebeccaM.Paluch•AshleyC.Proscia•SusanPukszta•KanikaRustagi Humair Sabir • Kavitha Viswanath • Shannon L. Weiner • Brian E. Williams • Gigi Wong • Michael W. Wright • Hannah G. Zeffiro • Nikki Doble JoanneM.McCollum•KevinR.Baker•JenniferL.Brown•AlanChen•RandallDeGeer•KamyDevaguptapu•BrianA.Feller•DavidInterdonato ShaibalMandal•NicoleO’Grady•MatthewOlson•VivekSoneja•AdamF.Udell•AkiluAmsalu•BrianM.Ansley•MaureenAtta•MintamirAyele Matt Brock • Daniel P. Clarin • Dejene Debela •Andrew Digby •Adugna Dinku • Donna Downs • Peggy Ellis • Samuel Ergete • Shamus Flower Bisrat Gebru • Chris Getner • Michael Golden • Laurey M. Harris • Steven Hedrick • Susan L. Henry • Cindi Higgs • Josh Hogue •Ari Jordon DavidKoch•RebeccaLembo•MelanieLilla•KeenaLyons•JillMarano•ScottR.McCray•SerkalemMideksa•KyleMiller•WayanA.Mullins Krystyne A. Newton • Monta Ormond • Piotr Ostrega • DeWayne Ovard • Nicholas J. Pantazi • Bob Rowe • Vincent J. Sachar • Adam Self Jennifer Shellhammer • Derej D. Siyoum • Vincent Stoessel • Minwylet Tadesse •Aster Tarekegn • Eyerusalem Tefere • Wondwossen B. Tekle Christopher Thorn • Robert E. Armour • Mahmoud Bah • Pamela A. DePierre • Anthony J. DiMaio • Nicole Dowsley • Joseph C. Gehm JenniferHobbs•MichaelKenney•BrianMcCarthy•SharonR.Muldoon•PaulNacon•HanochPapoushado•ShrijeetSaiyad•KathleenJ.Tench Irene Torino • Anil Varghese • Aref Bajwa • Sylvia H. Cho • Brendan W. Donegan • Heather L. Drobish • Omar Elshahawi • Rachel Fish TamaraHamdan•JohnA.Hamilton•WillaJ.Hu•MaryaR.Jafri•ZacharyKelsey•MatthewLawrence•RobertJ.Lemein•KatherineA.Lorenz RachaelL.Luthy•StephenA.Muto•JustinD.Oldham•ZhengyiQin•KrinalRami•MaureenG.Rocchio•ElianaP.Romero•MelindaRubinfeld Rasa Virsilaite • Frank Wong • Rada Yovovich • Charles Blank • Eugene Canjels • Michael Y. Choo • Nicola A. Ellis • Michael Fenske WendellA.Grantlen•MikeGrubisich•LaquetteR.Lewis•TimothyJ.Nugent•MartaPorowski•JudithG.Savino•SalmanShah•KarinaL.Stoltz JeAnna Stovall • Michel Vanderhart • Jane F. Vehrs • Matthew Vogelien • Michael Kemper • Robert Pacheco • Emily Petren • Catherine Ray CraigL.Smith•RosemaryE.Weghorst•RossA.Holdren•EricaHung•EbonyJack•MariaRadeva•TheresaSteinkamp•MadeleineWilliams Clay Willis •Andrew Bissell • Philip J. Infurna • Jared Stern • Dianne L. Haas • KateA. Hecht • Eva Louie • Rebecca Mendez •Alpa Prashar ErikA.Sternisha•NeilS.Tenzer•ChristopherS.Branson•SandraCuriel•ColleenF.Gallagher•BillC.Hastings•NathalieHofman•RickPoling SigmaSmith•CiaradelosReyes•AmyE.Hale•YiliLim•NancyTartt•CharlesCampbell•CatherineM.Cote•CatherineM.Cote•RobertDillon Hassan El Asraoui • Narsid Golic • Terri Graser • Glen T. Kabumoto • Jennifer McConnell • Brett Rudduck • Ryan Schulz • Kevin J. Sharlow Michael L. Smith • Harrison Underwood • David B. Lerman • Kenneth J. DeVaney • Michelle F. Fountain • Jenna Lee • Scott D. Rosenberg Julie F. Anderson • Aashiq A. Asanar • Luke Blaszczyk • Rajiv H. Diwan • Shannon Hoffman • Jennifer Hubert • Elizabeth M. Becker Stephanie Scheitler • BradArcher • Jon Canty • Jeffrey R. Dineen • Kyle D. Featherstone •Adam Grossman • Lauren S. Halloran • Jeff Hustis Andy Lai • Jerry McGeary • JohannaA. Tighe • John M. Yocum • LaurenA. Zopatti • RajeshAnkalkoti • Mark R. Berger • Michael L. Champa Audrius J. Girnius • Stuart Horowitz • John D. Kelly • Timothy E. Kinney • Kristen Maalouf • Tracy A. Mastro • Miriam L. Nieves AyshaG.Somasundaram•RobTompkins•DougVeliky•AlbertC.Yu•MorganS.Bainbridge•SylviaBercsenyi•EugeneKim•KevinKrabbenhoeft RyanT.McKinney•TimothyJ.Tardiff•LaurenceAbramson•JayAlfirevic•LindaS.Banass•JeffreyM.Beard•JasonP.Beirne•StephanieJ.Bell AnthonyM.Bergen•DanielJ.Boverman•ThomasW.Buck•MichaelG.Cadwell•BryanP.Cali•BobCampeau•RichardD.Caruso•GayCasey MichaelA. Castro • Brian S. Channon • Daniel P. Chartrand •AliceA. Chen • David M. Counts •Antoinette M. Courtney • William G. Denton John C. DiDonato • Thomas J. Dixon • SandraA. Dodds • David M. Drinan • Dalton T. Edgecomb • Sanford R. Edlein • Sherman K. Edmiston Thomas E. Evans • Neil D. Faux • Stephen Fletcher • Frank G. Flosman • Thomas J. Fox • Stephen L. Furry • Stephen J. Gawrylewski ThomasJ.Griffith•ToddA.Hakala•KatherineD.Hall•KevinD.Hamilton•KristiA.Hanson•MatthewW.Harrison•SaraHilton•EdwardG.Hofherr Kris C. Horner •Tony Howard • Dijana Icitovic • Janice James •Angela M. Kerins • George M. Kis • Caroline M. Kolman • Christine R. Kurban Ramona G. Lacy • Dionne D. Lee • Alix L. Lopez • Jerome P. Loughren • Nelson D. Lowman • Richard J. Mackessy • Alexandra Mahnken Shaun M. Martin • James P. Martin • George A. Mootz • Michael H. Morioka • Gordon J. Mountford • Dion Oglesby • Kenneth A. Ollwerther Paul R. Osborne • Jack Partridge • Douglas E. Pedersen • Fernando Pena-Alfaro • Mariateresa Perez • Joseph Raschke • Michael J. Roberts KathleenA.Rudolph•SallieA.Schiller•HazelR.Seabrook•JeromeP.Sepich•PaulW.Shade•DavidM.Shade•JohnR.Sharp•JustinT.Skelton 3 Mandy A. Smith • Cathy Smith • Daniel L. Soglin • Sandra Spann • Manfred R. Steiner • Malcolm J. Sutherland • Susan J. Swanson KannanThulasidas • John F.Tiscornia • Clarissa D.Tuttle • BeataT. VanderVeen • GaryA. VanHouse • John W. VanSanten • StuartA. Walker George W. Whetsell • Allan M. Wiinamaki • Mya Wolf • Emily J. Wollman • Shannon M. Yasseri • Mary Ann Zarkin • Claudia H. Ross Sumeet Bhatnagar • Lisa Branciforte • Ann Marie Di Lorenzo • John Dur • Tiesha Ellis • Cory Flickinger • Christine Gaughan • Alex Grecu MichelleHenriksen•AmyPemble•SimpsyTeckchandani•EugeniaK.Brumm•BradleyCalise•MaryW.Haider•GriselMauras•BarakTulin John Voloudakis • Nina Pukonen • Kenneth P. Lowrie • Manan Bahri • Neeraj Bajaj • Ann Marie Gdowski • Devdeep Ghosh • Brian Hartford MugdhaJoglekar•MarcKronenberg•AndreaE.McKay•NeillMohammad•DanMoody•DaweiQian•KosalaiRasanayagam•JamalC.Salem RobertStrauss•MariaSu•MadanSundaresan•MeetuSwaroop•TerrillThomas•MichaelUnhoch•StephanieWilliamson•AndrewJ.Guthrie ThomasMcCawley•GabrielaAlvarado•KarolinaArias•NaokoR.Cancela•DennisF.Lewis•DouglasR.Magnuson•ChiChiOkwu•AlexOng Trenton W. Terry • Sean P. Cronley • Lisa L. Howard • Linda K. Wagman • Curtis L. Culberson • Oliver S. Cooke • Jared Darrington Ronald F. DeMatteo • Sarah J. Fluent • Mark Grant • Jeffrey W. Kiger •Tammy M. McGinn • Mark F. Mercer •Anthony Pirraglia • Nick Repucci AashivShah•NancyTotten•JasonK.Tung•SherrieDowns•MarianneM.Hudson•JenniferThrockmorton•Kurt(Yuji)Yamamoto•KevinFerrell Ralph L. Gay • Stephen Hughes • Tracey Robertson •Amy Showalter • SumreenAhmad • Whit Baird • Marty Bergerson •April L. 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Miller • Wendy Neumann Meister • Patty Olsen • El’Lana Steele-Staton • Michael Swope Shusuke Taruta • Erin Towery • Perry Wheaton • Demetris White • David Whitman • Kristin Zmrhal • John Mansell • Alan Tilley • John Barry JorgeR.Blakely•TiffanyBrisbane•JohnD.Caldwell•ShaneJ.Christ•JenniferDemons•MicaGardner•KatieS.Isermann•AdamK.Kates DavidM.Leathers•DeanaL.McDermott•AgnesNicely•JenniferThurlow•CarolBellina•EnriqueGlotzer•JoeL.Wilkinson•MarkR.Kudel Andrew L. Annacone • Matthew G. Medlin • Bonnie L. Barndt-Maglio • Dan Cohen • Lindsay R. Cox • Madelynn Dickerson • Rob P. Hichens GeorgeA.Hnatiw•DougJohnson•JudithM.Katany•DavidI.Murdock•SeanE.Riley•MichelleL.Stavropoulos•CherylTatton•EllenWaxenberg Rachelle M. Webb • Thomas Williams • Stephen C. Wolfe • Michael L. Woodson • John H. Clark • Joe D’Agui • Richard Feigenbaum AdamC.Fennel•ValerieHarang•ColinR.Hartzell•ChristopherM.Howard•BrianJ.Korblick•YuriShane•TerryC.Spinkston•JohnVolpe Christopher Kendall •Tomoaki Mimura • Rena Verma • Phu N. Nguyen •AndreiA. Emelianov •Aimee Festa • Doresa Foots • Susan M. Guthrie Kim Kenney • Tara M. McDonough • Kanika Mittal • Shannon R. Powers • Jonathan B. Rush • Jan Van Londen • Jay Woo • Craig M. Zullig ChayPearce-Cochrane•JaniceL.Billie•MeganE.Cluver•HeatherCollins•AliciaN.German•DavidL.Johnson•JenniferN.Kim•JosephKruce Monty F. Lunn • Retha McCutcheon • Betty M. Olivera • Jennifer A. Pavelec • Scott R. Pitts • Cindy Shea-Zuvich • Carolyn B. Southerland Kevin P. Yost •Atsushi Kamiya • Kristin K. Luber • Bill O’Connell • Gordon Hirai •Andrew J. Diorio • Marianne P. Fanning • Scott W. Hoffman James H. Krause •Yang-Chyi Lee • Jieun Lim • Mikako Okuyama • Curtis E. Olson • Curt B. Whelan • Bernard E. 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Weatherford • Fusae (yi) I • Naoki Ito • Junichi Murozumi • Manabu Ohinata • Yasuyuki Yokota • Lawrence Secord • Jeff M. Zun LarryJ.Leach•LindaSykes•CurtisMorris•LilyAriola•MichaelJ.Barone•RobertFried•JeffreyW.Linderoth•LarryNahai•EddieSerrano Patty Tritipeskul • Jack Wissner • Fred C. Laws • Wally Powers • Joyce Van Volkinburg • Setsuo Kato • Taishi Nishida • Andy Suhy Tsukasa Yoshimoto • Bill J. Birmingham • Robert K. Crone • David K. Griggs • Meha Kamdar • Darlene Mash • Marcie Paladin Paul F. Zelmer • Amanda S. Bhikhari • Jeanette W. Dewey • Sarah A. Harrington • Patrick T. Kendall • Paul Major • Timothy W. McCarthy Dilber S. Mutlu • Nikishia Riley • Bill R. Roberts • Derek Schmidt • Keith R. Sirois • Keith H. Stein • Rebekah M. Stewart Daniel X. Yang • Kelly Ann Cohen • Mark Zevtchin • Tammy Fabbri Mata • Howard Pollchik • Terence F. Sanocki • Ron M. Lijewski Christine Diehl • Kyoko Maeda • Kengo Suzuki • Mary Jo Anderson • Ali Bozzelli • Mike Hammad • Angela D. Haynes LaurenKalkstein•JimP.Keatts•TedLivingston•LouH.Sims•JerryH.Stephens•DianaR.Byrd•JohnA.Long•ChrisCatalano•BobPurvis Dennis Thornbloom • Jim Wagner • Dan P. Carey • Diane Ray • Colin Attwood • Casey Bartolucci • Robert Couch • Nancy D. Crespo Stephanie Flennoy • Parag V. Gokhale • Sharon A. Hannan • Esther Hemou • Lucy Ngale • Garrett R. Sanders • Aida Spahic Christin St. Martin • Justin Wood • Hideaki Saito • Clifton A. Folkerts • Garry A. Williams • Richard Namerow • Jennifer Ruocco 5 Huron Consulting Group Message from the CEO ThispastyearHuronreachedamilestone—we Wecontinuetoattractandretainanincreasing markedourfifthanniversaryasacompany.We cadreoftalentedindividuals—growingfrom200 celebratedthisoccasionbyringingtheNASDAQ in2002tomorethan1,600today.Iamproudof openingbellonMay9th.Surroundedbyfounders, eachandeveryoneofthem.Theirnamesgrace colleaguesandfamily,thiswasoneofthemost thepagesofthisannualreportbecausetheyare personallygratifyingexperiencesinmyprofessional thelifebloodofthisorganization. career.Asoneofthefoundersofthiscompany,and itsfirstCEOandPresident,Iamdeeplyhumbled Asexcitingandasdynamicasthesepastfive andimmenselyproudofwhatTEAMHURONhas yearshavebeen,thisisonlythebeginning. built,andwhatwecontinuetobuild. Weareapowerhouseinthehighereducationand healthcareconsultingfield.Wedominatetheedu- cationresearchanddevelopmentadministration spaceandareaggressivelyexpandingbothour marketreachandserviceofferings.Rankedthird inthenationintermsofhealthcareconsultancy, weareexpandingourmarketreachtoserve healthyhospitalsand,combiningtheirskillswith oureducationconsultancy,wearebroadeningour reachtoacademicmedicalcenters. Noonehasthesamemarketpositionormore relevantserviceofferingsthanourLegalConsulting practice.OurnewV3locitysolutionhasthepoten- tialtodrasticallychangethewaye-discoveryis performedaroundtheworld. Alreadyagreatbusiness,thescopeandmarket reachofourfinancialservicesofferingshas significantlyexpandedthroughouracquisition oftheCallawaygroup. Ourstrategybusiness,leadbyGalt,continues towinmajorassignments.Wehaveastrong restructuringandturnaroundteamwiththeGlass acquisitionandarebuildingstrongindustryverti- cals.Andweareveryproudtoreporttheopening ofourfirstinternationalofficeinJapan. IhopeyouareasexcitedaboutthefutureasIam. Themarketopportunitiesarethere.Wehavethe momentum.Wehavethefocus.Wehavetheright Infiveyears,wehaveearnedtheaccoladesof people.Ithasbeenmyhonortoworkwithsucha anincreasingnumberofclientswhotrustuswith talentedgroupofindividuals,anditismyprivilege someoftheirmostcriticalbusinessmatters.We tocontinuetoserveyouinthisroleasChairman havebeenrankednumberoneonEntrepreneur andCEO. Magazine’slistofHot100Companiesfortwo consecutiveyears,in2007wewerenamed oneoftheHotGrowthSmallCompaniesby BusinessWeek,andin2006ConsultingMagazine ratedusasoneofthebestfirmstoworkfor. GaryE.Holdren Chairman,ChiefExecutiveOfficerandPresident 6 2007Annual Report December2007 Revenuestop$500M Wehavebeenrankednumberone 1,600employees onEntrepreneurMagazine’slist July2007 HuronacquiresCallawayPartners andAegisAdvisers ofHot100Companiesfortwo April2007 consecutiveyears,in2007wewere HuronopensTokyooffice namedoneoftheHotGrowth January2007 HuronacquiresWellspringPartners SmallCompaniesbyBusinessWeek, andGlass&Associates andin2006ConsultingMagazine December2006 Revenuestop$289M 1,000+employees ratedusasoneofthebestfirms July2006 toworkfor. HuronacquiresAaxisTechnologies andDocumentReviewConsultingServices April2006 HuronacquiresGalt&Company GaryE.Holdren Chairman,ChiefExecutiveOfficer December2005 andPresident Revenuestop$200M 750+employees May2005 HuronacquiresSpeltz&Weis December2004 Revenuestop$150M 600+employees October2004 HuroncompletesIPO December2003 Revenuestop$100M 500+employees December2002 Revenuestop$35M 300+employees May2002 Huronopens forbusiness 7 Huron Consulting Group Huron Snapshot Acquisitions Geography 2005May Speltz&Weis Offices 2006April Galt&Company 2002May Chicago,IL(Headquarters) 2006July AaxisTechnologies 2002May Boston,MA 2006July DocumentReview 2002May Houston,TX ConsultingServices 2002May NewYork,NY 2007January WellspringPartners 2002May SanFrancisco,CA 2007January Glass&Associates 2002July Charlotte,NC 2007July CallawayPartners 2003May WashingtonDC 2007July AegisAdvisers 2005January LosAngeles,CA 2007January Dallas,TX Geographic Footprint 2007January Detroit,MI Ourgeographicfootprintiswellbeyondouroffice 2007April Tokyo,Japan locations.Todayweserveclientsin49states, 2007July Atlanta,GA PuertoRicoand13countries.Huronismarket focused,servingclientswherever,andwhenever DocumentReviewCenters theyneedus. 2006July Miramar,FL 2006July Morrisville,NC 2006July RockHill,SC 2007February Houston,TX 2007June Hyderabad,India 2007June NewYork,NY DataProcessingCenter 2006July WashingtonDC 8

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Bojan Stoyanov • Walter B. Abel • Sandra J. Albom • Michael I. Braverman • Gloria The recent news surrounding improperly managed subprime.
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