Korn/Ferry Net Income GrowsMonday, June 17, 2013
Executive search firm Korn/Ferry International reported higher net income in its fourth quarter ended April 30.
The Century City firm on Monday reported quarterly net income of $12.2 million (25 cents a share), up slightly from $12 million from the same quarter last year. Revenue for the quarter was $239 million, up 15 percent from last year.
Excluding one-time costs related to corporate restructuring and the integration of two recent acquisitions, the firm reported net income of $15.5 million (33 cents).
That beat analysts’ consensus estimate of 31 cents a share, according to Bloomberg LP.
Shares rose 73 cents (4 percent) Monday on the New York Stock Exchange in advance of the announcement. Shares rose another 29 cents (2 percent) in after-hours trading.