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View All NewsThe Caldwell Partners’ revenue up 5.6%, CEO notes ‘economic uncertainty’ in US and UK
The Caldwell Partners International Inc. (TSX: CWL), a Toronto-based executive search firm, reported revenue rose 5.6% in its fiscal first quarter ended Nov. 30. However, the company noted developing headwinds.
| (C$ 000s) | Q1 2019 | Q1 2018 | % growth | Q1 2019 (USD $000s) | |
| Revenue | $15,892 | $15,049 | 5.6% | $11,968 | |
| Net earnings after tax | $211 | $410 | -48.5% | $159 |
Revenue rose in Canada and Europe but fell in the US.
Revenue by geography
| (C$ 000s) | Q1 2019 | Q1 2018 | % growth | Q1 2019 (USD $000s) | |
| Canada | $4,427 | $3,725 | 18.8% | $3,334 | |
| United Sates | $11,234 | $11,545 | -2.7% | $8,460 | |
| Europe | $477 | $44 | nm | $359 |
Quote
“Though we delivered an increase in revenue over last year, we did experience developing headwinds against recent growth trends,” CEO John Wallace said. “There was a softening to our overall search market in the latter part of the first quarter and early into the second quarter, as economic uncertainty in the United States and United Kingdom gave pause to many of our clients. While a number of our clients have expressed optimism that search roles will ultimately be filled, we are uncertain at this juncture as to timing.”
Share price and market cap
The Caldwell Partners’ shares were down 12.24% to $1.29 at 1:02 p.m. Eastern time; the company had a market cap of $29.99 million, according to FT.com.