Korn Ferry Q1 Net Income Rises

(RTTNews) - Korn Ferry (KFY) reported first quarter net income attributable to Korn Ferry of $66.6 million, compared to $62.6 million, a year ago. The company said net income attributable to Korn Ferry increased from the year-ago quarter primarily due to an increase in fee revenue. Earnings per share was $1.26 compared to $1.17. Adjusted EBITDA was $120.4 million compared to $111.2 million. Adjusted earnings per share increased to $1.31 from $1.18.

First quarter total revenue increased to $715.5 million from $682.8 million, last year. Fee revenue was $708.6 million, an increase of 5% year-over-year or up 4.0% at constant currency.

For the second quarter, on a consolidated basis, the company projects fee revenue to be in the range of $690 million and $710 million; earnings per share to range between $1.10 to $1.16, and adjusted earnings per share to be in the range from $1.23 to $1.33.

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