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Korn/Ferry Revenue Up 8%

December 08 2011

Korn/Ferry International Inc. (NYSE: KFY) reported today fee revenue rose 8.0 percent to $200.1 million in its fiscal second quarter ended Oct. 31, 2011, compared to $185.4 million in the year-ago quarter. On a constant currency basis, fee revenue rose by 5 percent.

The Los Angeles-based executive search firm reported revenue rose across all geographic regions. North American second-quarter fee revenue rose 3.7 percent to $97.5 million in the second quarter.

Second-quarter fee revenue from Europe, the Middle East and Africa rose 7.6 percent to $40.3 million; fee revenue from Asia Pacific rose 4.8 percent to $25.3 million; and fee revenue from South America inched up 0.3 percent to $8.5 million.

At Korn/Ferry’s Futurestep division, which provides mid-level recruitment and recruitment process outsourcing, second-quarter fee revenue rose 34.3 percent to $28.6 million.

Net income rose 10.9 percent to $15.1 million compared to $13.7 million in the year-ago quarter.

Korn/Ferry forecasts third-quarter revenue of between $183.0 million and $203.0 million, which would range from a decrease of 1.9 percent from the third quarter of the previous year to an increase of 8.9 percent from the third quarter of the previous year.

Korn/Ferry International Inc. (NYSE: KFY)
For the fiscal second quarter ended Oct. 31, 2011, compared with the same period a year ago.
Fee revenue: $200.1 million, +8.0 percent
Net income: $15.1 million, +10.9 percent

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