Executive search firm Korn Ferry International (KFY: NYSE) reported total revenue for the fourth quarter ending 30 April 2015 of USD 282.2 million, an increase of 8.2% compared with USD 260.8 million. 

Korn Ferry reported fee revenue of USD 271.8 million during the fourth quarter, an increase of 14.2% in constant currency from USD 251.7 million a year ago. According to the company’s financial statement, General and administrative expenses were USD 41.6 million in Q4 FY15, an increase 6.4% compared with Q4 FY14, mainly due to increases in foreign exchange losses and premise and office expenses.

Gary D. Burnison, CEO of Korn Ferry, commented: “Korn Ferry closed out the fiscal year with a strong quarter and record fee revenue of USD 271.8 million – 14.2% growth year-over-year and 11.4% growth sequentially, at constant currency, with diluted earnings per share of USD 0.51. With all service lines up year-over-year, our quarterly results propelled our fiscal year fee revenue to a record high of USD 1.03 billion – a major milestone in our firm’s history.”

“The strategic transformation our firm has undertaken – from a mono line to a multi-solutions talent advisory – is taking hold.  Korn Ferry will continue to build on our leadership position in helping companies deliver superior business outcomes through impactful people strategies," Mr Burnison added.

Korn Ferry operates three primary business segments; Executive Recruitment; Leadership and Talent Consulting (L&TC); and Futurestep. Fee revenue in Q3 FY15 was broken down as follows:

Korn Ferry’s Executive Recruitment division operates in four primary geographies; North America, EMEA, Asia-Pacific, and South America. Fee revenue for Q3 FY15 was as follows: 

On an annual basis, fee revenue during the year increased by 9.6% in constant current to USD 1.03 billion. 

According to the company’s financial statement, the higher fee revenue was driven by growth in industrial, life science/healthcare, financial services and consumer sectors, offset by a decline in the education/non-profit sector, while the technology sector was essentially flat.

Looking forward the company expects the current strong US dollar to negatively impact Korn Ferry’s revenue growth during the first quarter of the financial year 2016. Assuming worldwide economic conditions and financial markets remain stable and considering the effect of foreign exchange rates, fee revenue in Q1 FY16 is expected to be in the range of USD 258 million and USD 270 million.

In trading yesterday, the company’s share price closed up 0.2% at USD 32.76, an increase of 6.9% compared with a year ago. Based on its current share price, the company has a market value of USD 1.65 billion.