CTPartners Posts 10 Percent Q1 Revenue Decline

May 10, 2013 – CTPartners Executive Search Inc./(NYSE:CTP) posted first quarter revenues of $29.2 million, a 10 percent drop from $32.4 million in the prior year’s first quarter. North American revenue decreased 13.4 percent to $17.4 million; EMEA was essentially flat at $6.7 million; Asia Pacific revenue dipped by a third, to $1.7 million compared to $2.6 million in the first quarter of 2012. Latin America partially offset these decreases as revenue increased 13.4 percent to $3.3 million. The firm recorded a net loss for the first quarter of $2 million, or $0.29 per share, compared to a net loss of $0.6 million, or $0.08 per share last year. “While our first quarter results were consistent with our guidance, we continue to operate in a challenging economic environment for executive recruitment services,” said Brian Sullivan, CEO. CTPartners is a global executive search firm offering expertise in technology, media and telecom, financial services, life sciences, professional services, retail, industrial and board advisory services.