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Korn Ferry Q3 operating margin jumps from (4.1)% to 8%

Staff Writer |
Korn Ferry reports an 11% increase in Q3 FY’17 fee revenue compared to the year ago-quarter, primarily driven by the acquisition in Hay Group.

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Futurestep’s new business in the quarter reached a record high of $103.8 million, with a record $83 million in Solutions new business.

Operating margin was 8% in Q3 FY’17 compared to an operating margin of (4.1)% in Q3 FY’16. Adjusted EBITDA margin increased to 14.5% in Q3 FY’17 from 13.6% in Q3 FY’16.

Q3 FY’17 diluted earnings per share was $0.42 compared to diluted loss per share of $0.30 in Q3 FY’16. Adjusted diluted earnings per share was $0.53 in Q3 FY’17, compared to adjusted diluted earnings per share in Q3 FY’16 of $0.52.

The company continued to repurchase shares in the open market with cumulative share repurchases of 893,000 since October 2016, representing a reduction of approximately 1.6% of outstanding shares of common stock.

The company declared a quarterly dividend of $0.10 per share on March 6, 2017, payable on April 14, 2017 to stockholders of record on March 23, 2017.


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