Korn/Ferry International Has Announced
Korn/Ferry International Has Announced Its Third Quarter Fiscal Results
2010 Results of Operations
*Third quarter fiscal 2010 fee revenue was $146.8 million, compared to $136.2
million in the same quarter last year.
Korn/Ferry International (NYSE: KFY), a premier global provider of talent management solutions, announced third quarter fiscal 2010 diluted earnings per share of $0.11 (excluding a $2.8 million tax benefit) compared to diluted earnings per share of $0.08 in Q3 FY09 (excluding restructuring charges of $16.8 million and an impairment charge on marketable securities of $15.3 million). On a GAAP basis, diluted earnings per share was $0.17 in Q3 FY10, compared to diluted loss per share of $0.52 in Q3 FY09.
"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, Chief Executive Officer of Korn/Ferry International. "Although our growth rate continues to outpace the industry, the macroeconomic environment remains challenging.
Korn/Ferry, however, is well positioned with $251 million in cash and marketable securities and a clear vision for the future. We have a focused and differentiated business model, a systematic approach to client service that has been institutionalized throughout our Firm and high calibre colleagues who are helping Korn/Ferry capture market share across the globe."