The Caldwell Partners International Inc. (TSX: CWL), a Toronto-based executive search firm, reported revenue rose 8.7% in its fiscal second quarter ended Feb. 28.

US professional fees edged down 1.2% to C$10.5 million (US$8.3 million) in the second quarter; however, they increased 3.5% excluding the effect of exchange rates.

Canadian professional fees rose 27.5% in the second quarter to C$3.8 million (US$3.0 million); a higher average fee per assignment and a higher number of assignments per partner were partially offset by a lower average number of partners.

Professional fees in Europe rose to C$566,000 (US$445,146) in the second quarter from C$65,000 (US$51,121) in the prior-year period.

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$67,000 (US$52,694) from C$62,000.

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“Our partner and support teams extended their strong results from the first quarter,” said CEO John Wallace. “We saw a notable increase in new bookings across all geographies, particularly in the back half of the second quarter, and have positive momentum going into the third quarter.”

Share price and market cap

Shares in The Caldwell Partners fell 0.96% to C$1.03 as of 10:02 a.m. Eastern time. The company had a market cap of C$21.02 million.