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Korn/Ferry International Announces Its 2009 Results

Korn/Ferry International Announces Its 2009 Results

Revenues were $676.1 million down from $835.6 million in 2008. A net income (loss) of ($12.4 million) was made versus a net income of $66.2 million in 2008.

Korn/Ferrys fourth quarter fiscal 2009 fee revenue was $107.0 million, a 44% decline on a constant currency basis (49% decline including the impact of exchange rates) from the same quarter last year.

Cash and marketable securities were $326.3 million at April 30, 2009 compared to $289.9 million at January 31, 2009.

"Although our industry, the global capital markets and most businesses have been under siege since the Fall of 2008, Korn/Ferry is successfully navigating this historic global recession. For Fiscal 2009, we ended the year with a fortified balance sheet that includes $326 million of cash and marketable securities and we maintained our position as the largest firm in the industry, said Gary Burnison, Chief Executive Officer, Korn/Ferry International. We have used this tumultuous time to make strides in enhancing our value proposition to clients and to further diversify Korn/Ferry as a true talent management provider."

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