Korn Ferry Q2 fee revenue $492.4 million
Topics: KORN FERRY Q2
Second quarter diluted earnings per share was $0.77 and Adjusted diluted earnings per share was $0.81.
Adjusted diluted earnings per share for the second quarter excludes $2.6 million, or $0.04 per share, related to integration/acquisition costs associated with the recently completed acquisition of Miller Heiman Group, AchieveForum and Strategy Execution.
Fee revenue was $492.4 million in Q2 FY'20, a decrease of 1% (1% increase on a constant currency basis) compared to Q2 FY'19.
The decrease in fee revenue was due to lower fee revenue in Executive Search and Advisory, partially offset by growth in RPO and Professional Search.
Net income attributable to Korn Ferry was $42.8 million in Q2 FY'20 as compared to $46.0 million in Q2 FY'19.
The decrease in net income attributable to Korn Ferry resulted from a decrease in fee revenue and an increase in general and administrative expenses.
Operating margin was 12.6% in Q2 FY'20 compared to 14.3% in the year-ago quarter.
The decrease in operating margin was primarily due an increase in general and administrative expenses and lower fee revenue.
Adjusted EBITDA margin was 15.9%, compared to 16.2% in the year-ago quarter. ■