Korn/Ferry: Fiscal 2Q Earnings Snapshot

Associated Press |

LOS ANGELES (AP) _ Korn/Ferry International (KFY) on Thursday reported fiscal second-quarter net income of $46 million.

The Los Angeles-based company said it had profit of 81 cents per share. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The staffing company posted revenue of $506.8 million in the period. Its adjusted revenue was $495.2 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $482.9 million.

For the current quarter ending in February, Korn/Ferry expects its per-share earnings to range from 77 cents to 85 cents.

The company said it expects revenue in the range of $470 million to $490 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $476.7 million.

Korn/Ferry shares have increased slightly more than 9 percent since the beginning of the year. The stock has risen 7.5 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KFY at https://www.zacks.com/ap/KFY

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