Korn Ferry reported Wednesday fiscal third-quarter profit beat expectations and revenue that surprisingly increased, as strength in its recruitment process...
Korn Ferry KFY reported Wednesday fiscal third-quarter profit beat expectations and revenue that surprisingly increased, as strength in its recruitment process outsourcing revenue offset weakness in executive and professional search. The staffing services company’s stock was still inactive in premarket trading. Net income fell to $11.2 million, or 21 cents a share, from $84.1 million, or $1.54 a share, in the year-ago period. Excluding nonrecurring items, such as $41.
Net income fell to $11.2 million, or 21 cents a share, from $84.1 million, or $1.54 a share, in the year-ago period. Excluding nonrecurring items, such as $41.8 million in restructuring charges, adjusted earnings per share of $1.01 beat the FactSet consensus of 91 cents. Total revenue grew 0.3% to $686.8 million from $685.0 million, while the FactSet was for a decline to $672.6 million, as fee revenue that inched up less than 0.1% to $680.8 million topped expectations of $670.0 million.
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