UPDATE 1-Heidrick & Struggles Q2 beats market expectations

Tue Jul 27, 2010 8:57am EDT

* Q2 adj EPS $0.17 vs est. $0.16

* Q2 rev $126.1 mln vs est. $119.1 mln

* Sees Q3 rev $114-$122 mln vs est. $120.2 mln

July 27 (Reuters) - Executive recruiter Heidrick & Struggles International Inc (HSII.O) posted better-than-expected second-quarter results, helped by a 69 percent increase Asia-Pacific region sales.

For the third quarter, the company expects revenue of $114 million to $122 million, the higher end of which is above analysts' estimates of $120.2 million.

For the second quarter, net income was $2.7 million, or 15 cents a share, compared with a net loss of $15.8 million, or 93 cents a share, a year ago. [ID:nWNBS0640]

Excluding special items, the company earned 17 cents a share, beating analysts' estimates of 16 cents a share, according to Thomson Reuters I/B/E/S. Revenue rose 35 percent to $126.1 million. Analysts on average expected revenue of $119.1 million.

Shares of the Chicago-based company closed at $21.97 Monday on Nasdaq. (Reporting by Swati Chitnis in Bangalore; Editing by Vyas Mohan)

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