Korn Ferry Appoints Kenneth Bloom as Senior Client Partner
Jun 25 14
Korn Ferry announced that Kenneth Bloom has joined the firm as Senior Client Partner. Bloom will be based in Korn Ferry's New York office, serving in the Global Logistics and Transportation Services practice. Bloom joins Korn Ferry from INTTRA where he served as CEO and as a member of the Board of Directors. At INTTRA, Bloom and his team developed ecommerce solutions that standardize key business processes and transactions. Prior to joining INTTRA, Bloom served for 12 years in several executive positions at Stolt-Nielsen.
Korn Ferry Launches New Big Data Talent Analytics Engine to Help Organizations Select Leaders and Assess Overall Talent Performance
Jun 23 14
Korn Ferry announced the launch of Korn Ferry's Four Dimensions of Leadership & Talent (KF4D). KF4D, which will serve as the firm's new talent intelligence 'engine,' helps companies to identify talent for their organizations, assess performance and developmental gaps of their leaders, measure the effectiveness of their global talent workforce overall and even compare their level of talent to their industry peers. Underpinning KF4D is Korn Ferry's incomparable talent intelligence, which includes more than 2.5 million assessments and profiles of 8.5 million candidates. Leveraging this unprecedented amount of talent-focused Big Data, Korn Ferry's team of social scientists developed this framework around the four crucial areas that matter most for individual and organizational success competencies, experiences, traits and drivers. Competencies: the skills and behaviors required for success that can be observed. Experiences: assignments or roles that prepare a person for future opportunities. Traits: inclinations, aptitudes and natural tendencies, including personality and intellectual capacity. Drivers: values and interests that influence a person's career path, motivation, and engagement. Research shows these four areas to be highly predictive of performance differences, and correlated with all key talent variables: engagement, retention, productivity, leadership effectiveness, and leadership potential. By focusing on these four areas and utilizing KF4D to analyze their workforce, organizations will have a much more intelligent, sophisticated and real-time understanding of their overall global workforce performance and potential including talent strengths and gaps, areas to develop overall and even how they stack up against their competition.
Korn/Ferry International Reports unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended April 30, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015
Jun 16 14
Korn/Ferry International reported unaudited consolidated earnings results for the fourth quarter and full year ended April 30, 2014. For the quarter, the company reported adjusted EPS of $0.43. Fee revenue was $251.7 million in the fourth quarter, an increase of $23.8 million, or 10.4% (the effect of exchange rates was not significant), compared to $227.9 million reported in the same period last year. Total revenue was $260.8 million against $238.6 million reported last year. The overall fee revenue increase was driven by fee revenue growth in financial services, technology, life science/healthcare and the industrial sectors. Operating income was $24.5 million against $15.4 million reported last year. Income before provision for income taxes and equity in earnings of unconsolidated subsidiaries was $26.2 million against $17.2 million reported last year. Net income was $21.2 million or $0.43 per diluted share against $12.2 million or $0.25 per diluted share reported last year. Adjusted operating income was $24.5 million against $18.9 million reported last year. Adjusted EBITDA was $34.5 million against $27.8 million reported last year. Adjusted net income was $21.2 million or $0.43 per diluted share against $15.6 million or $0.32 per diluted share reported last year. EBITDA was $34.5 million against $24.3 million reported last year. Similar to the third quarter of fiscal 2014, the fourth quarter earning was benefited by a lower tax rate, which drove a little bit more than $0.04 per share of net earnings.
For the year, the company reported fee revenue of $960.3 million compared to $812.8 million reported in the same period last year. Total revenue was $995.6 million against $849.7 million reported last year. The increase in fee revenue was driven by a 9.2% increase in the number of engagements billed in fiscal year 2014 compared to fiscal year 2013. Operating income was $91.6 million against $43.9 million reported last year. Income before provision for income taxes and equity in earnings of unconsolidated subsidiaries was $99.0 million against $47.8 million reported last year. Net income was $72.7 million or $1.48 per diluted share against $33.3 million or $0.70 per diluted share reported last year. Adjusted operating income was $100.2 million against $70.4 million reported last year. Adjusted EBITDA was $138.3 million against $97.8 million reported last year. Adjusted net income was $78.5 million or $1.60 per diluted share against $52.8 million or $1.10 per diluted share reported last year. EBITDA was $129.7 million against $71.3 million reported last year.
Assuming worldwide economic conditions, financial markets and foreign exchange rates remain steady, first quarter of 2015 fee revenue is likely to range from $240 million to $250 million and adjusted diluted earnings per share are likely to range from $0.37 to $0.43 with diluted earnings per share as measured by Generally Accepted Accounting Principles likely to range from $0.29 to $0.37.