Annual report pursuant to Section 13 and 15(d)

Business Segments

 v2.3.0.11
Business Segments
12 Months Ended
Apr. 30, 2011
Business Segments [Abstract]  
Business Segments
 
12.   Business Segments
 
The Company operates in two global business segments; Executive Recruitment and Futurestep. The Executive Recruitment segment focuses on recruiting board-level, chief executive and other senior executive positions for clients predominantly in the consumer, financial services, industrial, life sciences/healthcare provider and technology industries and provides other related recruiting services. Futurestep creates customized, flexible talent acquisition solutions to meet specific workforce needs of organizations around the world. Their portfolio of services include recruitment process outsourcing, talent acquisition and management consulting services, project-based recruitment, mid-level recruitment and interim professionals. The Executive Recruitment business segment is managed by geographic regional leaders. Futurestep’s worldwide operations are managed by the Chief Executive Officer of Futurestep. The Executive Recruitment geographic regional leaders and the Chief Executive Officer of Futurestep report directly to the Chief Executive Officer of the Company. The Company also operates a Corporate segment to record global expenses of the Company.
 
Financial highlights by business segment are as follows:
 
                                                                 
    Year Ended April 30, 2011
    Executive Recruitment            
    North
      Asia
  South
               
    America   EMEA   Pacific   America   Subtotal   Futurestep   Corporate   Consolidated
    (In thousands)
 
Fee revenue
  $ 375,971     $ 155,782     $ 90,346     $ 31,959     $ 654,058     $ 90,191     $     $ 744,249  
Total revenue
  $ 395,008     $ 160,401     $ 92,340     $ 32,550     $ 680,299     $ 95,952     $     $ 776,251  
Operating income (loss)
  $ 80,685     $ 11,628     $ 11,611     $ 7,475     $ 111,399     $ 4,955     $ (30,569 )   $ 85,785  
Depreciation and amortization
  $ 6,465     $ 2,036     $ 1,028     $ 340     $ 9,869     $ 926     $ 1,876     $ 12,671  
Identifiable assets(1)
  $ 252,122     $ 159,134     $ 80,471     $ 21,143     $ 512,870     $ 81,544     $ 377,266     $ 971,680  
Long-lived assets(1)
  $ 23,690     $ 5,330     $ 2,740     $ 808     $ 32,568     $ 2,410     $ 8,164     $ 43,142  
Goodwill(1)
  $ 93,570     $ 53,908     $ 972     $     $ 148,450     $ 35,502     $     $ 183,952  
 
                                                                 
    Year Ended April 30, 2010
    Executive Recruitment            
    North
      Asia
  South
               
    America   EMEA   Pacific   America   Subtotal   Futurestep   Corporate   Consolidated
    (In thousands)
 
Fee revenue
  $ 278,746     $ 137,497     $ 64,132     $ 24,026     $ 504,401     $ 67,979     $     $ 572,380  
Total revenue
  $ 294,588     $ 141,982     $ 65,508     $ 24,536     $ 526,614     $ 73,035     $     $ 599,649  
Operating income (loss)
  $ 42,604     $ (15,511 )   $ 7,826     $ 3,286     $ 38,205     $ 1,291     $ (42,218 )   $ (2,722 )
Depreciation and amortization
  $ 4,561     $ 2,196     $ 1,163     $ 439     $ 8,359     $ 1,007     $ 2,127     $ 11,493  
Identifiable assets(1)
  $ 211,728     $ 135,165     $ 71,993     $ 21,195     $ 440,081     $ 69,085     $ 317,932     $ 827,098  
Long-lived assets(1)
  $ 8,918     $ 2,960     $ 1,610     $ 1,041     $ 14,529     $ 1,480     $ 8,954     $ 24,963  
Goodwill(1)
  $ 88,612     $ 50,389     $ 972     $     $ 139,973     $ 32,300     $     $ 172,273  
 
                                                                 
    Year Ended April 30, 2009
    Executive Recruitment            
    North
      Asia
  South
               
    America   EMEA   Pacific   America   Subtotal   Futurestep   Corporate   Consolidated
    (In thousands)
 
Fee revenue
  $ 309,514     $ 143,184     $ 66,332     $ 24,323     $ 543,353     $ 94,870     $     $ 638,223  
Total revenue
  $ 330,453     $ 149,016     $ 67,983     $ 24,841     $ 572,293     $ 103,835     $     $ 676,128  
Operating income (loss)
  $ 37,516     $ 2,061     $ 5,396     $ 2,441     $ 47,414     $ (12,003 )   $ (31,683 )   $ 3,728  
Depreciation and amortization
  $ 4,003     $ 2,003     $ 1,621     $ 371     $ 7,998     $ 1,873     $ 1,712     $ 11,583  
Identifiable assets(1)
  $ 254,123     $ 113,489     $ 70,463     $ 20,236     $ 458,311     $ 65,094     $ 217,474     $ 740,879  
Long-lived assets(1)
  $ 8,621     $ 3,120     $ 1,850     $ 1,100     $ 14,691     $ 3,112     $ 10,167     $ 27,970  
Goodwill(1)
  $ 71,131     $ 31,331     $ 972     $     $ 103,434     $ 29,897     $     $ 133,331  
 
 
(1) As of the end of the fiscal year.
 
The Company’s clients were not concentrated in any specific geographic region and no single client accounted for a significant amount of the Company’s revenue during fiscal 2011, 2010 or 2009.