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The Caldwell Partners International Inc. (TSX: CWL.TO), a Toronto-based executive search firm, reported revenue fell 5.5 percent to C$8.9 million (US$8.9 million) in its fiscal fourth quarter ended Aug. 31, compared to C$9.4 million in the year-ago period.
The Caldwell Partners’ fourth-quarter net earnings rose 92.0 percent to C$956,000 (US$964,450) for the quarter.
“While the overall business climate remains challenging, our ongoing commitment to the management of our cost structure has resulted in a substantial year over year increase in profit,” said John Wallace, chief executive officer. “Clients have been cautious in making human capital investments, given the economic uncertainty, yet we remain confident regarding the long term prospects for executive search in North America and will continue to invest in the growth of our firm.”
The Caldwell Partners International Inc. (TSX: CWL.TO)
For the fiscal fourth quarter ended Aug. 31, 2012, compared with the same period in the previous fiscal year.
Revenue: C$8.86 million (US$8.93 million), -5.6 percent
Net earnings: C$955,904 (US$964,450), +92.0 percent
For the full fiscal year ended Aug. 31, 2012, compared to the previous year.
Revenue: C$32.7 million (US$33.0 million), -4.5 percent
Net earnings: C$955,904 (US$964,450) vs. net earnings of C$187,453