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Korn/Ferry profit rises 26%

December 06 2007
Korn/Ferry International Inc.'s (NYSE: KFY) net income rose 26.1% in its fiscal second quarter ended Oct. 31. The executive search firm posted net income of $17.1 million, up from $13.6 million in the second quarter of the prior year.

Second-quarter revenue rose 25.5% to $206.8 million from $164.8 million.

The company said fee revenue rose in all segments amid an increase in search engagements opened and a 21% rise in average fee billed per search. The quarter also got an $8.3 million boost from favorable foreign exchange rates.

Korn/Ferry's North American revenue rose 18.6% in the second quarter to $94.9 million from $80.0 million in the prior year's quarter. Revenue for its Futurestep subsidiary rose 30% to $26.8 million.

The company forecast revenue of $190 million to $200 million in its next quarter.

Korn/Ferry International Inc. (NYSE: KFY)
For the second quarter ended Oct. 31, 2007, compared with the same quarter in the prior year.
Revenue: $206.8 million, +25.5%
Net income: $17.1 million, +26.1%

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