Heidrick & Struggles Posts Four Percent Revenue Gain

February 24, 2014 – Heidrick & Struggles International/(NASDAQ:HSII) has posted annual revenues of $462 million, an increase of 4.1 percent over the previous year. The firm reported a flat year in its largest market, the Americas, far below its rivals. Overseas, Heidrick was down nine percent in Europe and was flat in the Asia Pacific region for the year. The good news is that the most recent snapshot of the firm's performance, its fourth quarter results, snapped back — suggesting the firm is stabilizing: Heidrick reported$118 million for the last 90-day period of 2013, up 13.6 percent from $103.9 million during the same period a year ago. Year over year, fourth quarter net revenue increased 10.4 percent in the Americas and 7.7 percent in Europe. And consultant productivity improved. "Our fourth quarter and full-year 2013 results reflect year-over-year improvements in revenue, adjusted EBITDA margin and productivity,” said Tracy R. Wolstencroft, Heidrick & Struggles' newly enlisted president and chief executive officer. “The need for talent and leadership has never been greater, especially in a global economy that is growing increasingly more complex." Mr. Wolstencroft has been on a 'listening campaign' of sorts since being named boss last month. "I have met or talked to hundreds of people at Heidrick & Struggles in my first three weeks as CEO," he said. "My initial focus will be on attracting and retaining exceptional talent."