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View All NewsHeidrick exec search revenue rises in Americas
Executive search firm Heidrick & Struggles International Inc. (NASD: HSII) reported net revenue rose 2.8% in the fourth quarter to $121.3 million. Executive search and leadership consulting revenue rose 6.3% percent in the Americas but fell in Europe and Asia Pacific. Revenue in the Chicago-based company’s culture-shaping division rose 18.6%.
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth |
| Net revenue | $121,262 | $118,003 | 2.8% |
| Reimbursements | $5,226 | $4,850 | 7.8% |
| Total revenue | $126,488 | $122,853 | 3.0% |
| Net income | $762 | $1,502 | -49.3% |
Quote
“Our fourth-quarter and full-year results show year-over-year growth in net revenue, profitability, consultant headcount and year-end productivity,” said President and CEO Tracy Wolstencroft. “The results represent solid progress toward many of the initial goals we established when I arrived at Heidrick a year ago, namely to attract and retain exceptional consultant talent while fostering collaboration and teamwork across our global platform.”
Revenue by segment and geography
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth |
| Executive search and leadership consulting | |||
| Americas | $67,796 | $63,800 | 6.3% |
| Europe | $24,347 | $25,039 | -2.8% |
| Asia Pacific | $20,570 | $21,954 | -6.3% |
| Total executive search and leadership consulting | $112,713 | $110,793 | 1.7% |
| Culture shaping | $8,549 | $7,210 | 18.6% |
Full-year results
| (US$ thousands) | 2014 | 2013 | % growth |
| Net revenue | $494,292 | $461,995 | 7.0% |
| Reimbursements | $18,947 | $18,998 | -0.3% |
| Total revenue | $513,239 | $480,993 | 6.7% |
| Net income | $6,797 | $6,347 | 7.1% |
Guidance
Heidrick forecasts first-quarter revenue of between $108 million and $118 million.
Share price and market cap
Shares in Heidrick rose 2.80% in early afternoon trading to $24.22 and the company had a market cap of approximately $441.87 million, according to Yahoo!