Korn Ferry Announces First Quarter Fiscal 2017 Results of Operations
Los Angeles. September 8, 2016
Los Angeles, CA, September 8, 2016 – Korn/Ferry International (NYSE: KFY), the preeminent global people and organizational advisory firm, today announced first quarter fee revenue of $375.6 million, or $379.2 million on an adjusted basis. Q1 FY’17 diluted earnings per share and adjusted diluted earnings per share were $0.06 and $0.52, respectively. Adjusted diluted earnings per share excludes $37.0 million of restructuring charges, net, integration/acquisition costs, a deferred revenue adjustment related to the Hay Group acquisition (which also impacted adjusted fee revenue), and a write-off of debt issuance costs as a result of replacing our prior credit facility with a new facility to provide enhanced financial flexibility.
“I am proud of the performance of our firm during the fiscal first quarter. We generated $376 million of fee revenue and $379 million of adjusted fee revenue, up 40% and 42% year over year, respectively,” said Gary D. Burnison, CEO Korn Ferry. “Operationally, our combination with Hay Group and investments in our business have provided us with a more compelling platform to not only accelerate our clients’ success, but accelerate Korn Ferry’s growth – and generate stronger earnings power. I am confident that our strategic actions are making us more relevant to our clients, and firmly establishing Korn Ferry as a world-class people and organizational advisor.”
About Korn Ferry
Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through our Executive Search, Hay Group and Futurestep divisions.
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