Caldwell Partners Posts Small Decrease in Q3 Revenues; U.S. Revenues Up Slightly

July 18, 2012 – Executive search firm The Caldwell Partners International Inc. has posted 2012 third quarter revenues of $9.4 million, down two percent compared to the prior year. The decrease is attributable to weakness in Canadian search revenues (down 16 percent) more than offsetting the growth in U.S. search revenues (up five percent). Revenues from U.S. operations represent 71 percent of the third quarter total. "This quarter's results were more in line with our overall expectations for the performance of the business," said John Wallace, chief executive officer. "As it relates to profitability, we achieved better results, with strong growth on both a year-over-year and sequential quarter basis. We are as focused as ever on improving our overall market presence and competitiveness, making targeted, strategic additions to the team when and where it makes sense.”