Washington (May 16, 2002) -- Sluggish growth in both the high-tech and communications industries continue to drag down revenues at KPMG Consulting, the firm said in its latest quarterly report.
The consulting firm said revenue for the first quarter declined 22.5 percent to $582.3 million, compared with a year ago. While the public services business posted an increase of 8.2 percent, that gain was more than offset by steep declines in financial services (60.4 percent) and the high-tech industry (64.9 percent).The McLean, Va., based company, spun off from accounting giant KPMG, offers consulting services in a variety of sectors.

-- Electronic Accountant Newswire staff

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