April 14, 2016 – Caldwell Partners International posted second quarter revenues of $14.3 million (Canadian), up 20.3 percent from revenues of $11.9 million a year ago. Revenue in the U.S. for the quarter rose 38.8 percent, while Canadian revenues dropped 27.3 percent. The firm reported Q2 net earnings of $764,000 or $0.38 per share. This compares to net earnings of $282,000 or $0.13 per share for the previous corresponding quarter.
“We saw absolute revenue growth of 27.5 percent in the past quarter, with 6.5 percent of that gain coming from an equity monetization from search services. Including the equity monetization, on a constant currency basis our professional fees were up 14 percent,” said chief executive John N. Wallace.
But metrics per partner – while on solid footing – are off of last year’s record pace. “We attribute this, in part, to the effects of our investment in the U.K. and softness in the Western Canadian market,” he said.
“While still in its early stages of growth and development, the U.K. is a key component to our strategy of delivering seamless and global services to our client base,” said Mr. Wallace. “The London office is the launching pad for growing a long-term profitable business not only in the U.K., but also in pan-Europe.”
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During the quarter, Caldwell Partners named Mercedes Chatfield-Taylor to lead its newly combined private equity and venture capital recruiting practice. Based in San Francisco, she previously founded and led the firm’s venture capital practice.
Shares in Caldwell Partners rose six percent to $1.23 in early afternoon trading yesterday. The company, which trades on the Toronto Stock Exchange, has a present market cap of just under $25 million.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media