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CTPartners’ revenue beats estimates, firm switches to profit in Q4

March 13 2014

CTPartners Executive Search Inc. (NYSE MKT: CTP) reported net revenue rose 13.6 percent in the fourth quarter to $34.3 million, above analysts' estimates of $32.0 million and above initial guidance. The New York-based executive search provider also reported net income of $85,000 in the fourth quarter of 2013, up from a net loss of almost $1.5 million in the fourth quarter of the previous year.

Revenue rose across regions. North America revenue rose 19.7 percent in the fourth quarter to $20.3 million.

Revenue also rose in the Europe, Middle East and Africa region by 12.3 percent for revenue of almost $9.0 million. Asia Pacific revenue rose in the fourth quarter by 6.0 percent to $2.4 million.

In Latin America, however, revenue fell 25.2 percent to $2.6 million in the fourth quarter.

The company estimated first-quarter revenue would rise by between 23.4 percent and 30.2 percent on a year-over-year basis.

Shares in CTPartners rose 13.44 percent in late morning trading to $10.72. The company had a market cap of $75.80 million, according to Yahoo!

Net revenue for full-year 2013 rose 1.5 percent to $130.3 million. CTPartners reported a net loss of almost $1.8 million in the full year 2013 compared to a net loss of almost $3.6 million in 2012.

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