Korn/Ferry: Fiscal 1Q Earnings Snapshot
LOS ANGELES (AP) _ Korn/Ferry International (KFY) on Thursday reported a fiscal first-quarter loss of $38.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Los Angeles-based company said it had a loss of 70 cents. Earnings, adjusted for one-time gains and costs, came to 78 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The staffing company posted revenue of $478.4 million in the period. Its adjusted revenue was $465.6 million.
For the current quarter ending in November, Korn/Ferry expects its per-share earnings to range from 76 cents to 84 cents.
The company said it expects revenue in the range of $470 million to $490 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $476.9 million.
Korn/Ferry shares have increased 54 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $63.92, a climb of 93 percent in the last 12 months.