Korn Ferry Posts 55 Percent Revenue Rise

June 16, 2010 – Korn/Ferry International/(NYSE:KFY) has posted revenues of $176.9 million for the fourth quarter fiscal 2010, an increase of 55 percent from revenues of $107 million a year ago. The quarter includes fee revenue from the acquisition of Whitehead Mann, which closed on June 11, 2009. Korn/Ferry saw an increase in revenue from all segments of its business resulting from a 45 percent increase in the number of recruitment engagements billed. Korn/Ferry posted net income of $8.9 million, or 19 cents per share, compared with a net loss of $17.2 million, or 40 cents per share, in the year-ago period. Analysts on average were expecting earnings of 13 cents a share, on revenue of $155.6 million, according to Thomson Reuters. "Over the past year we remained focused on preserving our brand, positioning our company for long-term growth and remaining close to clients," said Gary Burnison, CEO. "We believe the combination of our multi-services, geographic reach and pristine brand have positioned us to become the leading diversified talent solutions company in the world. It is clear that our differentiation strategy is working and I am enormously proud of the collective effort and accomplishments of our worldwide colleagues during fiscal 2010."

Share This Article


Notify of
Inline Feedbacks
View all comments