UPDATE 1-Heidrick & Struggles profit falls
July 31 (Reuters) - Executive search firm Heidrick & Struggles International Inc reported a lower quarterly profit and withdrew its full-year forecast, saying demand was hit by an uncertain economic recovery.
"Macroeconomic uncertainty continues to weigh heavily on the confidence that executive leaders have in their businesses, which in turn affects the demand for our services," Chief Executive Kevin Kelly said in a statement.
Kelly said search confirmations in the second quarter were hurt by the euro zone financial crisis and continued weakness in hiring trends and investment spending.
The company forecast third-quarter revenue of between $115 million and $125 million, below analysts' estimates of $135.9 million, according to Thomson Reuters I/B/E/S.
Net income fell to $1.9 million, or 10 cents per share, for the April-June quarter, from $7.4 million, or 41 cents per share, a year earlier.
The number of executive search confirmations plunged 24 percent.
Net revenue dropped 19 percent to $116.1 million.
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