Heidrick & Struggles Posts Seven Percent Revenue Gain in 2014

February 23, 2015 – Chicago-based Heidrick & Struggles International/(NASDAQ:HSII) has posted 2014 revenues of $494.3 million, an increase seven percent from revenues of $462.0 million the prior year. Net income for the year was $6.8 million, with diluted earnings per share of $0.37, compared to earnings of $6.3 million, or diluted earnings per share of $0.35, in 2013. During the fourth quarter, Heidrick net revenue (revenue before reimbursements) increased 2.8 percent (approximately five percent on a constant currency basis) to $121.3 million from $118.0 million. Net income for the quarter was $0.8 million, or diluted earnings per share of $0.04, compared to net income of $1.5 million and diluted earnings per share were $0.08 during the fourth quarter of last year. "Our fourth quarter and full-year results show year-over-year growth in net revenue, profitability, consultant headcount and year-end productivity," said Tracy Wolstencroft, president and CEO. "Heidrick's global revenue growth is tracking closely to, or just below, what we're seeing among its chief rivals," said HSZ Media managing director Scott A. Scanlon. "It's clearly shaping up to being a banner year for recruiters." HSZ Media's 2015 industry rankings report, to be published next month, shows that among the largest integrated talent leadership providers Russell Reynolds Associates and Spencer Stuart climbed 11 percent worldwide, with Egon Zehnder up just over eight and a half percent in 2014. Heidrick & Struggles is a provider of senior-level executive search and leadership advisory services, including succession planning, executive assessment, talent retention management, executive development, transition consulting for newly appointed executives, and M&A human capital integration consulting.

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