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Korn/Ferry net income rises 10.4%

March 06 2008

Third-quarter profit rose 10.4% at Korn/Ferry International Inc. The executive search firm posted net income of $16.3 million, up from $14.7 million in the third quarter of the previous year.

Revenue rose 21.7% to $201.2 million in the quarter, up from $165.2 million in the same period in the previous year. The company said favorable foreign exchange rates boosted revenue by $10.0 million.

Third-quarter North American fee revenue rose 15.4% to $94.8 million, Korn/Ferry reported. Revenue in its Futurestep subsidiary rose 26.2% to $28.1 million.

The company gave fourth-quarter revenue guidance of between $195 million and $210 million.

Korn/Ferry International Inc. (NYSE: KFY)
For the third quarter ended Jan. 31, 2008, compared with the same period in the previous year.
Revenue: $201.2 million, +21.7%
Net income: $16.3 million, +10.4%

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