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UPDATE 1-Korn/Ferry Q4 tops market expectations
June 14, 2010 / 9:14 PM / 7 years ago

UPDATE 1-Korn/Ferry Q4 tops market expectations

* Q4 EPS $0.19 vs est $0.13

* Sees Q1 EPS $0.15-$0.25

* Sees Q1 revenue $155-$175 mln vs est $154 mln

* Shares up 6 pct in after-market trade

June 14 (Reuters) - Executive-search firm Korn/Ferry International Inc (KFY.N) posted better-than-expected quarterly results, helped by higher fee revenue and stronger demand for permanent recruitment, and forecast first-quarter revenue above market estimates.

For the fourth quarter ended April 30, the company earned $8.9 million, or 19 cents a share, compared with a loss of $17.2 million, or 40 cents a share, a year earlier.

The latest quarter included restructuring expenses of $0.1 million.

Total revenue rose 55 percent to $176.9 million, while fee revenue was up 58 percent at $168.7 million.

Analysts on average were expecting earnings of 13 cents a share, on revenue of $155.6 million, according to Thomson Reuters I/B/E/S.

For the first quarter, the company forecast earnings of 15 cents to 25 cents a share, on revenue of $155 million to $175 million.

Analysts were expecting earnings of 17 cents a share, on revenue of $154 million.

Shares of the company were up 6 percent at $14.75 in after-market trade. They closed at $13.93 Monday on the New York Stock Exchange. (Reporting by Amulya Nagaraj in Bangalore)

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