The Caldwell Partners (TSX: CWL), a Toronto-based executive search firm with operations in Canada and the U.S., reported revenue rose 34.2 percent year over year to C$9.2 million (US$8.2 million) in its fiscal second quarter ended Feb. 28.

U.S. revenue rose 45 percent from the second quarter of 2013 (33 percent excluding exchange rate fluctuations) to C$6.6 million (US$5.9 million). Increased search volumes, and to a lesser extent increased average fees, drove the increase, according to the company.

Revenue from Canadian operations increased 12 percent to C$2.6 million (US$2.3 million) in the second quarter. Higher average fees generated the increase, which was partially offset by decreased search volumes, the company said.

“This is the fourth consecutive quarter in which we have seen strong revenue levels,” said CEO John Wallace. “We are also experiencing positive gains in important metrics such as average fee, number of searches per partner and overall billings per partner.”

Caldwell Partners reported second-quarter net earnings of C$42,997 (US$38,614) compared with a net loss of C$652,651 in the second quarter of last year.