Heidrick & Struggles Posts 35 Percent Revenue Rise

July 30, 2010 – Chicago-based executive search firm Heidrick & Struggles International/(NASDAQ:HSII) has posted net revenue of $126.1 million, an increase 35.4 percent from $93.1 million in the 2009 second quarter. Net revenue increased 34.6 percent in the Americas, 15.4 percent in Europe, and 69.4 percent in the Asia Pacific region. Net revenue from leadership consulting services increased 32.3 percent to $8.2 million and represented 6.5 percent of total net revenue in the quarter. Heidrick recorded net income of $2.7 million, or 15 cents a share, compared with a net loss of $15.8 million, or 93 cents a share, a year ago. The number of executive search confirmations in the quarter increased 28.2 percent compared to the 2009 second quarter. The number of consultants at June 30, 2010 was 343, compared to 380 at June 30, 2009, and 367 at March 31, 2010. Productivity, as measured by annualized net revenue per consultant increased to $1.4 million from $0.9 million in the 2009 second quarter. The average revenue per executive search was $108,600 compared to $102,700 in the 2009 second quarter.

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