Korn Ferry Q1 Profit Down, Adj. EPS Top View; Issues Q2 Outlook

(RTTNews) - Consulting firm Korn Ferry, Inc. (KFY) reported Thursday that its first-quarter net income attributable to the company fell to $46.6 million from last year's $77.2 million.

Earnings per share were $0.89, down from $1.45 last year.

Adjusted net income attributable was $51.5 million or $0.99 per share, compared to $80.0 million or $1.50 per share a year ago.

On average, five analysts polled by Thomson Reuters expected earnings of $0.91 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue grew to $706.3 million from $703.1 million a year ago. Fee revenue was $699.2 million, higher than last year's $695.9 million. The Street was looking for revenues of $684.93 million.

Looking ahead for the second quarter, the company projects earnings per share in the range of $0.85 to $0.97, and adjusted earnings per share in the range of $0.91 to $1.01.

Fee revenue for the quarter is expected to be in the range of $675 million and $695 million.

Analysts expect earnings of $0.96 per share for revenues of $682.36 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.