Caldwell Partners Posts 5.5 Percent Revenue Drop
November 18, 2012 – Executive search firm The Caldwell Partners International Inc. has posted 2012 fourth quarter revenues of $8.85 million, down 5.5 percent compared to $9.37 million the prior year. Revenues from U.S. operations represent 66 percent of the fourth quarter total, decreasing five percent from the comparable period of 2011. Fourth quarter net earnings after tax represented a 93 percent improvement over net earnings in the comparable period a year earlier. "While the overall business climate remains challenging, our ongoing commitment to the management of our cost structure has resulted in a substantial year over year increase in profit," said John Wallace, chief executive officer. "Clients have been cautious in making human capital investments, given the economic uncertainty, yet we remain confident regarding the long term prospects for executive search in North America and will continue to invest in the growth of our firm."