Korn/Ferry International moves to fiscal 4th-qtr profit from year-ago period hurt by chargeBy AP
Monday, June 14, 2010
Korn/Ferry moves to fiscal 4th-quarter profit
LOS ANGELES — Staffing company Korn/Ferry International on Monday said it moved to a fiscal fourth-quarter profit from a year-ago period weighed by heavy charges.
For the three months ended April 30, Korn/Ferry posted net income of $8.9 million, or 19 cents per share, compared with a net loss of $17.2 million, or 40 cents per share, in the year-ago period.
The most recent quarter included $80,000 in restructuring charges, a fraction of the year-ago quarter’s restructuring charges of $25.1 million.
Revenue rose 55 percent to $176.9 million from $114.4 million.
Analysts polled by Thomson Reuters, on average, expected profit of 13 cents per share on revenue of $155.6 million.
For the year, the company posted net income of $5.3 million, or 12 cents per share, on revenue of $600 million. That compared with a net loss of $10.1 million, or 23 cents per share, on revenue of $672.4 million.
Korn/Ferry said it expects earnings per share between 15 cents and 25 cents for the current quarter. Analysts expect profit of 17 cents per share for the period.
Korn/Ferry shares gained 82 cents, or 5.9 percent, to $14.75 in aftermarket electronic trading following the results. The stock closed Monday’s regular session up 6 cents at $13.93. The stock has ranged from $9.43 to $18.62 over the past year.
Tags: Financing, Los Angeles, North America, Restructuring And Recapitalization, United States