Daily News
View All NewsHeidrick revenue rises 12%
Heidrick & Struggles International Inc. (NASD: HSII) reported revenue rose 11.5 percent in the second quarter to $136.1 million. In addition, the Chicago-based executive search provider announced net income of $591,000 in the second quarter compared to a net loss of $1.3 million in the year-ago quarter.
Executive search revenue rose most in Europe but fell in Asia Pacific. Corporate culture-shaping revenue rose 11.5 percent.
Quote
“Our second quarter results reflect year-over-year and sequential improvements in almost all of our operating segments and key metrics,” said President and CEO Tracy Wolstencroft. “We are encouraged by the progress and by the continued growth in our consultant base since the beginning of the year. At the same time, we recognize there is still much work to be done to deliver a fully integrated service platform to our clients and to improve our financial performance.”
Revenue
| Q2 2014 (000s) | Q2 2013 (000s) | % growth | |
| Revenue | $136,080 | $122,033 | 11.5% |
Revenue by segment and geography
| Q2 2014 (000s) | Q2 2013 (000s) | % growth | |
| Executive search and leadership consulting | |||
| Americas | $70,466 | $68,176 | 3.4% |
| Europe | $31,201 | $23,284 | 34.0% |
| Asia Pacific | $25,062 | $25,133 | -0.3% |
| Total executive search and leadership consulting | $126,729 | $116,593 | 8.7% |
| Culture shaping | $136,080 | $122,033 | 11.5% |
Net income
| Q2 2014 (000s) | Q2 2013 (000s) | |
| Net income | $591 | -$1,346 |
Guidance
Heidrick forecast third-quarter revenue of between $123 million and $133 million, a year-over-year increase of between 3.4 percent and 11.8 percent.
Share price and market cap
Shares in Heidrick rose 0.50 percent in late morning trading to $18.06. The company had a market cap of $328.73 million, according to Yahoo!