Korn Ferry Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Business Segments (Tables)

Business Segments (Tables)

3 Months Ended

Jul. 31, 2015

Financial Highlights By Business Segment

Financial highlights by business segment are as follows:


	Three Months Ended July 31, 2015
	Executive Recruitment
	North America		EMEA		Asia Pacific		South America		Subtotal		LTC			Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	90,359	$	36,090	$	19,215	$	6,426	$	152,090	$	69,240		$	46,064		$	—		$	267,394
Total revenue	$	94,399	$	37,171	$	19,990	$	6,432	$	157,992	$	71,441		$	49,902		$	—		$	279,335
Net income																				$	23,082
Other loss, net																					74
Interest expense, net																					299
Equity in earnings of unconsolidated subsidiaries, net																					(725	)
Income tax provision																					10,174

Operating income (loss)	$	24,145	$	6,276	$	2,986	$	1,508	$	34,915	$	7,495		$	6,189		$	(15,695	)	$	32,904
Depreciation and amortization		827		365		246		78		1,516		3,748			585			1,574			7,423
Other income (loss), net		32		143		18		239		432		(863	)		—			357			(74	)
Equity in earnings of unconsolidated subsidiaries, net		86		—		—		—		86		—			—			639			725

EBITDA		25,090		6,784		3,250		1,825		36,949		10,380			6,774			(13,125	)		40,978
Integration/acquisition costs		—		—		—		—		—		329			—			345			674

Adjusted EBITDA	$	25,090	$	6,784	$	3,250	$	1,825	$	36,949	$	10,709		$	6,774		$	(12,780	)	$	41,652


	Three Months Ended July 31, 2014
	Executive Recruitment
	North America		EMEA		Asia Pacific		South America		Subtotal		LTC			Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	82,300	$	40,297	$	19,534	$	6,284	$	148,415	$	63,548		$	39,225		$	—		$	251,188
Total revenue	$	86,082	$	41,429	$	20,369	$	6,309	$	154,189	$	65,420		$	40,716		$	—		$	260,325
Net income																				$	14,533
Other income, net																					(2,177	)
Interest expense, net																					794
Equity in earnings of unconsolidated subsidiaries, net																					(466	)
Income tax provision																					5,909

Operating income (loss)	$	18,998	$	2,643	$	2,522	$	73	$	24,236	$	3,460		$	3,457		$	(12,560	)		18,593
Depreciation and amortization		904		489		294		85		1,772		3,252			446			1,300			6,770
Other income (loss), net		129		46		109		33		317		217			(2	)		1,645			2,177
Equity in earnings of unconsolidated subsidiaries, net		68		—		—		—		68		—			—			398			466

EBITDA		20,099		3,178		2,925		191		26,393		6,929			3,901			(9,217	)		28,006
Restructuring charges, net		1,151		3,987		17		377		5,532		2,758			1,424			172			9,886

Adjusted EBITDA	$	21,250	$	7,165	$	2,942	$	568	$	31,925	$	9,687		$	5,325		$	(9,045	)	$	37,892