North America fee revenue, which does not include Futurestep, rose 62.7% to $90.0 million. Futurestep revenue rose 30.8% to $20.2 million.

The Los Angeles-based executive search firm reported first-quarter net income of $10.9 million compared with a net loss of $14.3 million in the first quarter of the previous year. The firm reported restructuring charges of $18.2 million in the first quarter of last year and no restructuring charges in the most-recent quarter.

Korn/Ferry forecast revenue for its fiscal second quarter of between $165.0 million and $185.0 million, a year-over-year increase of between 17.7% and 32.0%.

Korn/Ferry International Inc. (NYSE: KFY)
For the fiscal first quarter ended July 31, 2010, compared with the same period in the previous year.
Fee revenue: $175.1 million, +49.9%
Net income: $10.9 million vs. net loss of $14.3 million