Korn Ferry Announces First Quarter Fiscal 2020 Results of Operations
Los Angeles. September 5, 2019
Los Angeles, CA, September 5, 2019 – Korn Ferry (NYSE: KFY), a global organizational consulting firm, today announced first quarter fee revenue of $484.5 million with diluted earnings per share of $0.76.
“I am pleased to report fee revenue of $484.5 million, an increase of 4% quarter over quarter with 7% growth at constant currency for the fiscal first quarter, led by our RPO & Professional Search offering, which grew 24% quarter over quarter or 27% at constant currency – the 21st consecutive quarter of near double-digit growth at actual and constant currency. Earnings remained strong in the first quarter with net income attributable to Korn Ferry of $43.0 million and EBITDA at $74.9 million. We also continue to allocate capital to share repurchases, buying back, fiscal year to date, approximately 968,000 shares, using total cash of approximately $37.2 million,” said Gary D. Burnison, CEO, Korn Ferry.
“Our financial results for the first quarter demonstrate the durability of our business model. We are substantially different today than we were even a few years ago. We’ve evolved from a mono-line business to a global organizational consulting firm – synchronizing a client’s strategy and talent to drive superior performance. More than organizational strategy or compensation advisory, more than talent acquisition and more than leadership development – Korn Ferry enables people and organizations to be more than: simply put, to exceed their potential.”
- Korn Ferry reports fee revenue of $484.5 million in Q1 FY’20, an increase of 4% (7% at constant currency) from Q1 FY’19.
- Net income attributable to Korn Ferry was $43.0 million in Q1 FY’20.
- Operating income was $60.3 million in Q1 FY’20 with an operating margin of 12.5%. EBITDA was $74.9 million with EBITDA margin of 15.5%.
- Q1 FY’20 diluted earnings per share and adjusted diluted earnings per share was $0.76.
- The Company continued with its balanced approach to capital allocation, buying back 968,000 shares or $37.2 million of stock through today and declaring a quarterly dividend of $0.10 per share on September 4, 2019 payable on October 15, 2019 to stockholders of record on September 27, 2019.