* Q1 EPS $0.24 vs est $0.20
* Q1 fee rev jumps about 50 pct
* Gives Q2 outlook largely above market view
* Shares rise 8 pct in early trade
Sept 9 Executive search firm Korn/Ferry
International Inc (KFY.N) posted strong first-quarter results
that beat market estimates, helped by a 50 percent jump in its
fee revenue, and forecast a strong second quarter.
The company expects earnings of 20-27 cents per share for
the August-October quarter, on revenue of $165-185 million.
Analysts on average were expecting earnings of 21 cents per
share, on revenue of $172.4 million, for the period, according
to Thomson Reuters I/B/E/S.
The Los Angeles-based company, which competes with global
staffing services companies like Manpower Inc (MAN.N) and Kelly
Services Inc (KELYA.O), said fee revenue improved partly due to
a rise in the number of executive recruitment engagements
Korn/Ferry operates in two segments -- executive
recruitment and Futurestep, its recruitment process outsourcing
For the May-July quarter, the company earned $10.9 million,
or 24 cents a share, compared with a loss of $14.3 million, or
33 cents a share, a year ago.
Total sales rose about 49 percent to $183.2 million, while
fee revenue rose 50 percent to $175.1 million.
Analysts on average had expected the company to earn 20
cents a share, before special items, on revenue of $166.6
Shares of the company have gained 17 percent in the past
two weeks, were up 8 percent at $16.17 in early trade on the
New York Stock Exchange.
(Reporting by Fareha Khan in Bangalore; Editing by Gopakumar