Korn/Ferry International Falls on Q1 Earnings Results

Shares of Korn/Ferry International KFY are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are lower by 3.20%, trading at $14.51; they ended the regular session lower by 1.70%, at $14.99. Korn/Ferry International reported Q1 diluted EPS of $0.33 on revenues of $214.6 million. Fee revenue was $206.3 million in Q1 FY'12 compared to $175.1 million in Q1 FY'11, an increase of $31.2 million, or 18%, which reflects increases in fee revenue from all segments of the business driven primarily by a 12% increase in the overall number of engagements billed. "Korn/Ferry performed well, as evidenced by the firm's ninth consecutive quarter of fee revenue growth and 18% growth year over year," said Gary Burnison, CEO, Korn/Ferry International. "I am encouraged by our results, particularly in this tumultuous economic environment as the global economy struggles to rationalize the new normal. Irrespective of the macro conditions, leading organizations recognize that attracting and developing the best people is a continual priority. Korn/Ferry will continue to seek out opportunity from the volatility which has enveloped the world." Korn/Ferry International is a global provider of talent management solutions that help clients to develop, retain and sustain their talent.