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Executive search firm Heidrick & Struggles International Inc. (NASD: HSII) reported first-quarter net revenue fell 7.9 percent to $106.5 million from $115.6 million in the year-ago quarter.
First-quarter Americas net revenue fell 7.3 percent to $58.9 million on a year-over-year basis. Europe net revenue fell 1.8 percent to $27.1 million, and Asia Pacific net revenue fell 16.2 percent to $20.6 million.
Heidrick posted first-quarter net income of $679,000 compared with a net loss of $4.7 million in the year-ago period.
Heidrick forecasts 2012 second-quarter net revenue will be between $125 million and $135 million, which ranges from a year-over-year decrease of 5.5 percent to 12.5 percent.
Heidrick & Struggles International Inc. (NASD: HSII)
For the first quarter ended March 31, 2012, compared with the same period in the previous year.
Net revenue: $106.5 million, -7.9 percent
Net income: $679,000 vs. a net loss of $4.7 million