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Korn/Ferry International Inc. (NYSE: KFY) reported fee revenue fell 9.5 percent to $186.7 million in its fiscal first quarter ended July 31, 2012, from $206.3 million in the same period last year.
The Los Angeles-based executive search firm reported fee revenue fell only 6 percent when measured on a constant currency basis.
North America fee revenue fell 9.8 percent to $72.1 million.
At Korn/Ferry’s Futurestep division, which provides mid-level recruitment and recruitment process outsourcing, first-quarter fee revenue rose 2.2 percent to $30.9 million.
First-quarter net income fell 32.4 percent to $10.4 million from $15.4 million in the year-ago quarter.
Korn/Ferry International (NYSE: KFY)
For the three months ended July 31, 2012, compared with the same period a year ago.
Fee revenue: $186.7 million, -9.5 percent.
Net income: $10.4 million, -32.4 percent