Recruiting Firm Korn/Ferry Earnings Rise 34% in Quarter

Executive search and recruiting firm Korn/Ferry International Inc. said Wednesday that its fiscal fourth-quarter profit rose 34% as demand for executive-level jobs remained high.

The Los Angeles-based firm said its net income for the quarter that ended April 30 grew to $11.7 million, or 27 cents a share, from $8.7 million, or 21 cents, a year earlier. Revenue rose 26% to $131 million from $103.7 million last year.

Analysts surveyed by Thomson First Call had expected earnings of 25 cents a share on revenue of $126.5 million.

For the full year, Korn/Ferry earned $38.6 million, or 90 cents a share, up from $5.4 million, or 13 cents, last year. Revenue rose 36% to $476.4 million from $350.7 million. Analysts had forecast earnings of 88 cents a share on revenue of $471.8 million.

“We’re seeing continued strong global demand for executive-level jobs despite high oil prices and volatile equity markets,” Chief Executive Paul C. Reilly said in a statement.

Assuming constant foreign exchange rates, Korn/Ferry forecast first-quarter earnings of 24 cents to 28 cents a share on revenue of $120 million to $127 million.

Analysts estimate earnings of 26 cents a share on revenue of $131.9 million.