March 9, 2010 – Korn/Ferry International/(NYSE:KFY) posted revenues of $152.9 million for the third quarter fiscal 2010, an increase of six percent from revenues of $144.5 million a year ago. Fee revenue increased in all regions due to a 12.5 percent increase in the overall number of engagements billed. The Los-Angeles-based recruiter reported net income of $7.9 million, or 17 cents a share, compared with a net loss of $22.4 million, or 52 cents a share, a year ago. Analysts were expecting earnings of 11 cents a share on revenue of $146.5 million, according to Thomson Reuters. "We are encouraged by our results during the quarter, which included our third consecutive sequential fee revenue increase and a year-over-year fee revenue increase of eight percent," said Gary D. Burnison, CEO. "Although our growth rate continues to outpace the industry, the macroeconomic environment remains challenging.” Korn/Ferry is better positioned than other rivals in the industry with $251 million in cash and marketable securities on hand.
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