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View All NewsKorn Ferry reports executive search revenue flat in fiscal Q2
Executive search fee revenue was roughly flat at Korn Ferry International Inc. (NYSE: KFY) in the fiscal second quarter ended Oct. 31. However, revenue in its Futurestep division rose 12.5%, and top line fee revenue got a boost with the acquisition of the Hay Group in the third quarter of last year. As a result, total fee revenue rose 43.2% in Korn Ferry’s second quarter.
| (US$ thousands) | Q2 2017 | Q2 2016 | % growth |
| Fee revenue | $401,917 | $280,600 | 43.2% |
| Net income | $31,056 | $17,971 | 72.8% |
Fee revenue by segment and geography
| (US$ thousands) | Q2 2017 | Q2 2016 | % growth |
| Executive search | |||
| North America | $92,732 | $92,788 | -0.1% |
| Europe, the Middle East, Africa | $34,799 | $36,570 | -4.8% |
| Asia Pacific | $19,470 | $20,998 | -7.3% |
| Latin America | $9,247 | $6,116 | 51.2% |
| Total executive search | $156,228 | $156,472 | -0.2% |
| Hay Group | $188,842 | $73,602 | 156.6% |
| Futurestep | $56,847 | $50,526 | 12.5% |
Quote
"Fee revenue by segment and geographyGlobally, total new business in November finished up 2% year over year,” CFO Bob Rozek said in a conference call with analysts. “If historical patterns remain consistent with prior years, December new business is expected to be seasonally weaker. It should be followed by a stronger January.”
Share price and market cap
Shares in Korn Ferry rose 1.40% to $27.57 in late morning trading today and the company had a market cap of $1.6 billion, according to Yahoo!