CTPartners Posts Flat Revenues

November 10, 2013 – CTPartners Executive Search Inc./(NYSE:CTP) posted third quarter 2013 net revenue of $32.6 million, an increase of 1.7 percent from $32 million a year ago. EMEA was up 22.6 percent to $8.6 million; North American revenue decreased 2.2 percent to $18.7 million and Latin America revenue dipped to $3.6 million from $3.9 million. Asia Pacific revenue was also down to $1.6 million from $2 million in the prior year quarter. GAAP net income attributable to the company for the third quarter was $0.7 million, or $0.09 per share, compared to a net loss of $1.2 million, or $0.17 per share loss for last year’s third quarter. “We are pleased that our third quarter performance met our expectations. While revenue was at the lower end of guidance, adjusted EPS came in at the midpoint reflecting the positive impact of the cost reduction initiatives we implemented earlier in the year,” said Brian Sullivan, CEO.

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