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First-quarter net revenue at CTPartners Executive Search Inc. (AMEX: CTP) rose 6.3 percent to $32.4 million from $30.5 million in the same period last year. North America net revenue at the New York-based executive search firm rose 7.9 percent to $20.1 million in the first quarter.
CTPartners’ European first-quarter net revenue fell 20.6 percent to $6.7 million. Asia Pacific net revenue fell 22.9 percent to $2.6 million.
The company’s new Latin America operation brought in first-quarter net revenue of $3.0 million, following the acquisition of its independently-owned licensee in Latin America.
First-quarter net income fell 42.5 percent to $347,932.
There were 385 confirmed searches in the first quarter, up 28.3 percent from the year-ago period. The increase reflected the addition of CTPartners’ Latin American acquisition.
CTPartners forecast second-quarter revenue of between $31.0 million and $33.0 million, which would range from a year-over-year decrease of 6.3 percent to 0.3 percent.
CTPartners Executive Search Inc. (AMEX: CTP)
For the first quarter ended March 31, 2012, compared to the year-ago quarter.
Net revenue: $32.4 million, +6.3 percent
Net income: $347,932, -42.5 percent