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View All NewsKorn Ferry revenue up 7%
Korn/Ferry International Inc. (NYSE: KFY) fee revenue rose 7.4 percent year over year, or 8.1 percent on a constant currency basis, to $255.7 million in its fiscal second quarter ended Oct. 31.
The Los Angeles-based firm reported the overall fee revenue increase was driven by fee revenue growth in all of its major markets: Consumer industrial, life science/healthcare, financial services and technology.
Second-quarter net income rose to $25.4 million from $18.8 million in the same quarter of fiscal year 2014.
Quote
“To be relevant and meaningful, global organizations are demanding a workforce that can innovate, with leaders who are extremely agile and can drive growth across borders,” said Korn Ferry CEO Gary Burnison. “While challenging, this environment is also creating opportunity for Korn Ferry, as our diversified offerings and approach are helping companies build the right teams, with the right talent, and linking business strategies to talent strategies.”
Fee revenue
| Q2 2015 (000s) | Q 2014 (000s) | % growth | |
| Fee revenue | $255,702 | $237,968 | 7.4% |
Revenue by segment and geography
| Q2 2015 (000s) | Q2 2014 (000s) | % growth | |
| Executive recruitment | |||
| North America | $82,729 | $75,183 | 10.0% |
| Europe, the Middle East, Africa | $36,675 | $34,221 | 7.2% |
| Asia Pacific | $21,157 | $21,722 | -2.6% |
| South America | $8,369 | $8,866 | -5.6% |
| Total executive recruitment | $148,930 | $139,992 | 6.4% |
| Leadership & Talent Consulting | $66,408 | $66,078 | 0.5% |
| Futurestep* | $40,364 | $31,898 | 26.5% |
*Futurestep includes recruitment process outsourcing, project recruitment, search and consulting.
Net income
| Q2 2015 (000s) | Q2 2014 (000s) | % growth | |
| Net income | $25,403 | $18,759 | 35.4% |
Guidance
The company estimates fee revenue to range between $241 million and $251 million in the third quarter of fiscal year 2015.
Share price and market cap
Korn Ferry shares rose 2.11 percent in early afternoon trading today to $28.52 and the company had a market cap of $1.43 billion, according to Yahoo!