Korn Ferry Announces Fourth Quarter and Fiscal 2018 Results of Operations
Los Angeles. June 13, 2018
Los Angeles, CA, June 13, 2018 – Korn/Ferry International (NYSE: KFY), a global organizational consulting firm, today announced record fourth quarter and annual fee revenue of $475.4 million and $1,767.2 million, respectively. In addition, fourth quarter diluted earnings per share and Adjusted diluted earnings per share were $0.73 and $0.80, respectively. Adjusted diluted earnings per share for the fourth quarter excluded $4.5 million, or $0.07 per share, comprised of the impact of the United States Tax Cut and Jobs Act (“Tax Act”) and retention awards related to the Hay Group acquisition.
“I am pleased to report fee revenue of $475 million and strong profitability, with diluted earnings per share and Adjusted diluted earnings per share of $0.73 and $0.80 and Adjusted EBITDA of approximately $75 million during our recently completed fourth quarter. We achieved the highest fiscal year fee revenue in our firm’s history – up 13% year over year,” said Gary D. Burnison, CEO of Korn Ferry. “We’ve come a long way on our journey and I’m excited about the future – to be the preeminent organizational consultancy. Today’s Korn Ferry is all about synchronizing our clients’ strategy and talent to help them drive superior performance. We are never more powerful than when we come together as one firm – to help companies design their organization, to offer expertise on how they compensate, develop and motivate their people and to find out who candidates are. Korn Ferry has the proven expertise to transform individuals, teams, even entire organizations. In the fiscal year ahead, we will continue to bring talent and organizational strategies to life and unlock the potential within global workforces.”
- Korn Ferry reports record annual fee revenue of $1,767.2 million, an increase of almost 13% year-over-year.
- Korn Ferry reports record fee revenue of $475.4 million in Q4 FY’18 an increase of 17% as compared to Q4 FY’17.
- Operating income was $63.3 million in Q4 FY’18 with an operating margin of 13.3%. Adjusted EBITDA was $74.6 million with an Adjusted EBITDA margin of 15.7%.
- Q4 FY’18 diluted earnings per share was $0.73 compared to diluted earnings per share of $0.47 in Q4 FY’17. Adjusted diluted earnings per share was $0.80 in Q4 FY’18, compared to Adjusted diluted earnings per share in Q4 FY’17 of $0.62.
- The Company declared a quarterly dividend of $0.10 per share on June 12, 2018 payable on July 13, 2018 to stockholders of record on June 26, 2018.