Korn/Ferry Q1 Results Top Estimates

(RTTNews) - Korn/Ferry International (KFY) reported net income for the first quarter of $14.5 million or $0.29 per share, compared to $11.4 million or $0.24 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $21.5 million or $0.43 per share, compared to $16.0 million or $0.33 per share in the prior year quarter.

Fee revenue for the third quarter rose 10% to $251.2 million from $228.4 million a year ago. Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $249.59 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts fee revenue of $244 million to $254 million earnings of $0.42 to $0.48 per share. Analysts currently expect the company to earn $0.42 per share on revenue of $257.81 million for the second quarter.