Korn Ferry Announces Fourth Quarter Fiscal 2016 Results of Operations

Korn/Ferry International has announced record fourth quarter and annual fee revenue of $399.9 million and $1.3 billion, or $405.0 million and $1.3 billion on an adjusted basis, respectively. Fourth quarter diluted earnings per share and adjusted diluted earnings per share were $0.10 and $0.58, respectively.

For the fourth quarter, Korn Ferry recorded revenues of $399.9 million, a 47 percent revenue increase when compared to $271.8 million during the same quarter a year ago. The growth was primarily due to increases in fee revenue in the North America region of its executive search and Futurestep business segments. Gary D. Burnison, CEO Korn Ferry said, “I am enormously proud of our company and the results we have achieved during the quarter, and at the same time, continuing to deliver on the Hay Group integration at a scope and pace that has exceeded our initial expectations.

Hay Group Integration

In the fourth quarter of FY’16, Korn Ferry continued to make significant progress on the Hay Group integration. The fourth quarter results benefitted from the third quarter restructuring and integration actions with the new Hay Group segment EBITDA margin coming in at 5.6%, or 15.9% on an adjusted basis.