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View All NewsCaldwell Partners revenue up 30%
The Caldwell Partners (TSX: CWL.TO), a Toronto-based executive search firm with operations in Canada and the US, reported revenue rose 30% year over year to C$11.9 million (US$9.5 million) in its fiscal second quarter ended Feb. 28.
US revenue rose 19% from the second quarter of 2014 (6% excluding exchange rate fluctuations). An increase in the average number of search partners and search volumes during the current year — partially offset by lower average fees — drove the increase, according to the company. Revenue from Canadian operations increased 45% in the second quarter, generated by higher search volumes, offset partially by lower average fees.
| Q2 2015 (C$ 000s) | Q2 2014 (C$ 000s) | % growth | Q2 2015 (USD $000s) | ||
| Revenue | $11,874 | $9,158 | 30% | — | $9,501 |
| Net earnings | $282 | $43 | nm | — | $226 |
Revenue by geography
| Q2 2015 (C$ 000s) | Q2 2014 (C$ 000s) | % growth | Q2 2015 (USD $000s) | ||
| U.S. | $7,800 | $6,568 | 19% | — | $6,241 |
| Canada | $3,758 | $2,590 | 45% | — | $3,007 |
Quote
“Our partner and support team continued the strong momentum from previous quarters, delivering a sizeable increase in revenue and a positive contribution to operating profit,” said CEO John Wallace. “We are very pleased with the way our entire team is operating, and are feeling confident about continuing our performance for the remainder of the fiscal year.”
Share price and market cap
Shares in Caldwell Partners were unchanged at C$1.32 and the company has a market cap of C$28.08 million, according to Yahoo!