Korn/Ferry reports strong 4Q on improved revenue

Korn/Ferry shares up on strong fiscal 4Q earnings, revenue and fiscal 1Q outlook

Associated Press

LOS ANGELES (AP) -- Korn/Ferry International said Monday that its fiscal fourth-quarter net income improved on better revenue for the staffing company.

The quarter's results exceeded market expectations and shares rose in after-hours trading.

The company earned $12.2 million, or 25 cents per share, for the period that ended April 30. That compares with $12 million, or 25 cents per share in the same period last year. Adjusting for one-time items in both periods, it earned 32 cents per share.

Revenue increased to $238.6 million from $207.6 million.

Analysts polled by FactSet expected the company to earn 31 cents per share on revenue of $231.2 million.

Korn/Ferry expects to make 26 to 32 cents per share in its fiscal first quarter on an adjusted basis. Analysts forecast 27 cents per share.

Shares of the Los Angeles-based company rose nearly 5 percent to close at $18.11 Monday and added 29 cents in after-hours trading.

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