Heidrick & Struggles Posts Five Percent Revenue Increase
October 28, 2014 – Chicago-based Heidrick & Struggles International/(NASDAQ:HSII) has posted third quarter revenues of $125.8 million, an increase of five percent from revenues of $119 million a year ago. Executive search and leadership consulting net revenue increased 2.7 percent year over year, or $3.1 million, to $115.5 million. The improvement was driven by performance in Europe, where revenue increased 16.4 percent, or $3.8 million (approximately 12 percent on a constant currency basis). Net revenue declined by $0.5 million in the Americas and by $0.2 million in Asia Pacific. Heidrick reported net income $32.2 million, or diluted earnings per share of $0.16, compared to earnings of $4.1 million, or $0.23 per share. "Our third quarter results reflect steady progress in stabilizing and rebuilding our business," said Tracy R. Wolstencroft, president and CEO. "Although our results are trending in the right direction, we need to accelerate improvements, with revenue growth being the most important deliverable."