Korn Ferry Posts 23 Percent Revenue Gain

December 5, 2013 – Korn/Ferry/(NYSE:KFY) posted fee revenues of $238 million for the second quarter of fiscal 2014, an increase of 23 percent from revenues of $196.2 million a year ago. Excluding prior year acquisitions, quarterly fee revenue increased eight percent on a constant currency basis from last year. Fee revenue in executive recruitment was $140.1 million during the quarter, up 11 percent, on a constant currency basis, from the prior year. The company recorded adjusted diluted earnings per share, excluding separation charges of $2 million, of $0.41 compared to adjusted diluted earnings per share, excluding net restructuring charges of $15.5 million, of $0.25 in Q2 FY'13. “Once again, we delivered strong margin expansion and earnings per share growth in the quarter. Our firm's alignment to broad talent management offerings is taking hold, as evidenced by our non-search businesses generating 41 percent of the revenue mix aided by the performance of the prior year acquisitions – an all-time high," said Gary D. Burnison, CEO of Korn Ferry.