The Caldwell Partners International Inc. (TSX: CWL), a Toronto-based executive search firm, reported revenue rose 19.1% in its fiscal fourth quarter ended Aug. 31.

US professional fees rose 35.7% to C$14.2 million (US$11.0 million) in the fourth quarter; the increase was 31.9% excluding the effect of exchange rates. According to Caldwell, increases in the number of assignments per partner and the average fee per assignment more than offset a decrease in the average number of partners during the period.

Canadian professional fees fell 24.5% in the fourth quarter to C$3.8 million (US$3.0 million), affected by a lower average number of partners, lower number of assignments per partner and a lower average fee per assignment. Two specific assignments generating collective professional fees in excess of C$800,000 in the previous year without similar high fee searches in the current year drove much of the decrease in professional fees and the average fee per assignment in this year’s fourth quarter.

Professional fees in Europe jumped to C$663,000 (US$512,000) in the fourth quarter from C$187,000 in the year-ago quarter; a decrease in the average fee per assignment was more than offset by increases in the average number of partners and the number of assignments per partner.

License fees from affiliations in Latin America and New Zealand for the use of the Caldwell Partners brand and intellectual property increased year over year to C$142,000 (US$110,000) from C$92,000.

Full fiscal-year results

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“We continue to grow our scale and resultant impact in the marketplace,” CEO John Wallace said. “Collaboration among partner teams and geographies has further expanded, and there is now more significant breadth and depth to the expertise we can offer to our clients.”

Share price and market cap

The Caldwell Partners’ shares were up 6.2% to C$1.54 at 12:33 p.m. Eastern time; the company had a market cap of C$29.6 million, according to FT.com.