Fee revenue up over 10% YoY in Q2 2018 for Korn Ferry
Korn Ferry has released its results for the second quarter of 2018.
It reported record fee revenue of $443.0m in Q2 FY'18, an increase of $41.1m or 10.2% (an increase of $35.9m or 8.9% on a constant currency basis) compared to Q2 FY'17, driven by organic growth in all three lines of business as compared to Q2 FY'17.
Operating income was $51.2m in Q2 FY'18 with an operating margin of 11.6%. Adjusted EBITDA was $69.6m with Adjusted EBITDA margin of 15.7%.
Q2 FY'18 diluted earnings per share was $0.64 compared to diluted earnings per share of $0.52 in Q2 FY'17. Adjusted diluted earnings per share was $0.67 in Q2 FY'18, compared to adjusted diluted earnings per share in Q2 FY'17 of $0.59.
The company continued to return capital to stockholders during the quarter, paying $5.7m in dividends and repurchasing $25.2 million worth of its outstanding shares. The company declared a quarterly dividend of $0.10 per share on 6th December 2017 payable on 12th January 2018 to stockholders of record on 20th December 2017.
Gary D. Burnison, CEO of Korn Ferry, said, "I am pleased to report fee revenue of $443 million, an all-time high, up 10% year over year for our recently completed second quarter. Profits were solid, with diluted earnings per share and adjusted diluted earnings per share of $0.64 and $0.67 and Adjusted EBITDA of approximately $70 million.
"Korn Ferry has evolved into a full-fledged consulting firm, with offerings that span search, organizational advisory services, strategy execution, leadership development, compensation and rewards and more. The acquisitions we have made over the years, the talent we have brought on board and our relentless focus on solutions aligned toward our clients' business outcomes are making a notable impact. I look forward to what the future holds as we enter calendar year 2018."
Photo courtesy of Shutterstock.com