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US – Korn/Ferry Revenue Edges Down

08 March 2012

Korn/Ferry International Inc. (NYSE: KFY) reported today fee revenue fell 0.3 percent to $186.0 million in its fiscal third quarter ended Jan. 31, 2012, from $186.5 million in the year-ago quarter.

The Los Angeles-based executive search firm reported first-quarter North America executive search revenue fell 5.3 percent to $90.0 million. However, search revenue rose 13.4 percent in South America to $8.7 million; rose 2.4 percent in Asia Pacific to $20.9 million; and rose 1.1 percent to $40.5 million in the firm’s Europe, Middle East and Africa segment.

At Korn/Ferry’s Futurestep division, which provides mid-level recruitment and recruitment process outsourcing, second-quarter fee revenue rose 10.7 percent to $25.8 million.

Net income fell 16.2 percent to $11.7 million from $14.0 million in the year-ago quarter.

Korn/Ferry forecast fourth-quarter revenue of between $182.0 million and $196.0 million, which would range from a year-over-year decrease of 0.7 percent to 7.8 percent.

Korn/Ferry International Inc. (NYSE: KFY)
For the fiscal third quarter ended Jan. 31, 2012, compared with the same period a year ago.
Fee revenue: $185.9 million, -0.3 percent
Net income: $11.7 million, -16.2 percent

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