Financial Highlights By Business Segment |
Financial
highlights by business segment are as follows:
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
April 30, 2013 |
|
|
|
Executive
Recruitment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North
America |
|
|
EMEA |
|
|
Asia
Pacific |
|
|
South
America |
|
|
Subtotal |
|
|
LTC |
|
|
Futurestep |
|
|
Corporate |
|
|
Consolidated |
|
|
|
(in
thousands) |
|
Fee revenue
|
|
$ |
290,317 |
|
|
$ |
128,807 |
|
|
$ |
73,221 |
|
|
$ |
30,134 |
|
|
$ |
522,479 |
|
|
$ |
168,115 |
|
|
$ |
122,237 |
|
|
$ |
— |
|
|
$ |
812,831 |
|
Total revenue
|
|
$ |
305,993 |
|
|
$ |
132,988 |
|
|
$ |
75,359 |
|
|
$ |
30,491 |
|
|
$ |
544,831 |
|
|
$ |
176,566 |
|
|
$ |
128,304 |
|
|
$ |
— |
|
|
$ |
849,701 |
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
33,293 |
|
Other income,
net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,309 |
) |
Interest expense,
net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,365 |
|
Income tax provision
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,637 |
|
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,110 |
) |
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
$ |
58,832 |
|
|
$ |
9,173 |
|
|
$ |
6,973 |
|
|
$ |
5,987 |
|
|
$ |
80,965 |
|
|
$ |
6,424 |
|
|
$ |
10,975 |
|
|
$ |
(54,488 |
) |
|
|
43,876 |
|
Depreciation and
amortization
|
|
|
4,726 |
|
|
|
2,347 |
|
|
|
1,546 |
|
|
|
372 |
|
|
|
8,991 |
|
|
|
6,012 |
|
|
|
1,180 |
|
|
|
2,821 |
|
|
|
19,004 |
|
Other income (loss), net
|
|
|
466 |
|
|
|
95 |
|
|
|
200 |
|
|
|
32 |
|
|
|
793 |
|
|
|
(75 |
) |
|
|
51 |
|
|
|
5,540 |
|
|
|
6,309 |
|
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
434 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
434 |
|
|
|
— |
|
|
|
— |
|
|
|
1,676 |
|
|
|
2,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
64,458 |
|
|
|
11,615 |
|
|
|
8,719 |
|
|
|
6,391 |
|
|
|
91,183 |
|
|
|
12,361 |
|
|
|
12,206 |
|
|
|
(44,451 |
) |
|
|
71,299 |
|
Restructuring charges,
net
|
|
|
3,583 |
|
|
|
3,982 |
|
|
|
629 |
|
|
|
— |
|
|
|
8,194 |
|
|
|
10,198 |
|
|
|
3,527 |
|
|
|
938 |
|
|
|
22,857 |
|
Transaction and integration
costs
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,106 |
|
|
|
3,106 |
|
Separation costs
|
|
|
— |
|
|
|
516 |
|
|
|
— |
|
|
|
— |
|
|
|
516 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
516 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
|
|
$ |
68,041 |
|
|
$ |
16,113 |
|
|
$ |
9,348 |
|
|
$ |
6,391 |
|
|
$ |
99,893 |
|
|
$ |
22,559 |
|
|
$ |
15,733 |
|
|
$ |
(40,407 |
) |
|
$ |
97,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Identifiable assets(2)
|
|
$ |
209,079 |
|
|
$ |
148,491 |
|
|
$ |
72,303 |
|
|
$ |
23,616 |
|
|
$ |
453,489 |
|
|
$ |
248,611 |
|
|
$ |
93,331 |
|
|
$ |
319,798 |
|
|
$ |
1,115,229 |
|
Long-lived assets(2)
|
|
$ |
19,167 |
|
|
$ |
6,312 |
|
|
$ |
2,784 |
|
|
$ |
894 |
|
|
$ |
29,157 |
|
|
$ |
10,383 |
|
|
$ |
2,523 |
|
|
$ |
11,565 |
|
|
$ |
53,628 |
|
Goodwill(2)
|
|
$ |
54,513 |
|
|
$ |
50,264 |
|
|
$ |
972 |
|
|
$ |
— |
|
|
$ |
105,749 |
|
|
$ |
119,090 |
|
|
$ |
32,454 |
|
|
$ |
— |
|
|
$ |
257,293 |
|
|
|
Year Ended April 30,
2012 |
|
|
|
Executive
Recruitment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North
America |
|
|
EMEA |
|
|
Asia
Pacific |
|
|
South
America |
|
|
Subtotal |
|
|
LTC |
|
|
Futurestep |
|
|
Corporate (1) |
|
|
Consolidated |
|
|
|
(in
thousands) |
|
Fee revenue
|
|
$ |
305,717 |
|
|
$ |
141,409 |
|
|
$ |
82,230 |
|
|
$ |
31,846 |
|
|
$ |
561,202 |
|
|
$ |
115,407 |
|
|
$ |
113,896 |
|
|
$ |
— |
|
|
$ |
790,505 |
|
Total revenue
|
|
$ |
323,116 |
|
|
$ |
146,573 |
|
|
$ |
84,279 |
|
|
$ |
32,517 |
|
|
$ |
586,485 |
|
|
$ |
120,281 |
|
|
$ |
119,993 |
|
|
$ |
— |
|
|
$ |
826,759 |
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
54,303 |
|
Other loss, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
271 |
|
Interest expense,
net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,791 |
|
Income tax
provision
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,351 |
|
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,850 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
$ |
75,580 |
|
|
$ |
13,288 |
|
|
$ |
11,859 |
|
|
$ |
9,207 |
|
|
$ |
109,934 |
|
|
$ |
16,360 |
|
|
$ |
8,445 |
|
|
$ |
(51,873 |
) |
|
|
82,866 |
|
Depreciation and
amortization
|
|
|
4,624 |
|
|
|
1,881 |
|
|
|
1,268 |
|
|
|
367 |
|
|
|
8,140 |
|
|
|
2,613 |
|
|
|
1,070 |
|
|
|
2,194 |
|
|
|
14,017 |
|
Other income (loss), net
|
|
|
5 |
|
|
|
(149 |
) |
|
|
60 |
|
|
|
(61 |
) |
|
|
(145 |
) |
|
|
146 |
|
|
|
41 |
|
|
|
(313 |
) |
|
|
(271 |
) |
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
159 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
159 |
|
|
|
— |
|
|
|
— |
|
|
|
1,691 |
|
|
|
1,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
80,368 |
|
|
|
15,020 |
|
|
|
13,187 |
|
|
|
9,513 |
|
|
|
118,088 |
|
|
|
19,119 |
|
|
|
9,556 |
|
|
|
(48,301 |
) |
|
|
98,462 |
|
Restructuring charges, net
|
|
|
(15 |
) |
|
|
897 |
|
|
|
— |
|
|
|
(99 |
) |
|
|
783 |
|
|
|
— |
|
|
|
146 |
|
|
|
— |
|
|
|
929 |
|
Separation costs
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
920 |
|
|
|
999 |
|
|
|
1,919 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
|
|
$ |
80,353 |
|
|
$ |
15,917 |
|
|
$ |
13,187 |
|
|
$ |
9,414 |
|
|
$ |
118,871 |
|
|
$ |
19,119 |
|
|
$ |
10,622 |
|
|
$ |
(47,302 |
) |
|
$ |
101,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Identifiable assets(2)
|
|
$ |
171,641 |
|
|
$ |
140,980 |
|
|
$ |
76,027 |
|
|
$ |
22,957 |
|
|
$ |
411,605 |
|
|
$ |
83,576 |
|
|
$ |
90,560 |
|
|
$ |
428,948 |
|
|
$ |
1,014,689 |
|
Long-lived assets(2)
|
|
$ |
22,288 |
|
|
$ |
7,542 |
|
|
$ |
3,938 |
|
|
$ |
955 |
|
|
$ |
34,723 |
|
|
$ |
2,648 |
|
|
$ |
3,420 |
|
|
$ |
9,017 |
|
|
$ |
49,808 |
|
Goodwill(2)
|
|
$ |
55,608 |
|
|
$ |
50,664 |
|
|
$ |
972 |
|
|
$ |
— |
|
|
$ |
107,244 |
|
|
$ |
36,251 |
|
|
$ |
32,843 |
|
|
$ |
— |
|
|
$ |
176,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
April 30, 2011 |
|
|
|
Executive
Recruitment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North
America |
|
|
EMEA |
|
|
Asia
Pacific |
|
|
South
America |
|
|
Subtotal |
|
|
LTC |
|
|
Futurestep |
|
|
Corporate (1) |
|
|
Consolidated |
|
|
|
(in
thousands) |
|
Fee revenue
|
|
$ |
306,180 |
|
|
$ |
137,398 |
|
|
$ |
81,951 |
|
|
$ |
29,177 |
|
|
$ |
554,706 |
|
|
$ |
99,352 |
|
|
$ |
90,191 |
|
|
$ |
— |
|
|
$ |
744,249 |
|
Total revenue
|
|
$ |
323,251 |
|
|
$ |
141,746 |
|
|
$ |
83,711 |
|
|
$ |
29,739 |
|
|
$ |
578,447 |
|
|
$ |
101,852 |
|
|
$ |
95,952 |
|
|
$ |
— |
|
|
$ |
776,251 |
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
58,874 |
|
Other income,
net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,454 |
) |
Interest expense, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,535 |
|
Income tax provision
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,692 |
|
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,862 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
$ |
70,782 |
|
|
$ |
12,768 |
|
|
$ |
13,172 |
|
|
$ |
7,539 |
|
|
$ |
104,261 |
|
|
$ |
5,138 |
|
|
$ |
6,955 |
|
|
$ |
(30,569 |
) |
|
|
85,785 |
|
Depreciation and
amortization
|
|
|
3,956 |
|
|
|
1,858 |
|
|
|
919 |
|
|
|
335 |
|
|
|
7,068 |
|
|
|
2,801 |
|
|
|
926 |
|
|
|
1,876 |
|
|
|
12,671 |
|
Other income (loss), net
|
|
|
319 |
|
|
|
(156 |
) |
|
|
186 |
|
|
|
56 |
|
|
|
405 |
|
|
|
121 |
|
|
|
11 |
|
|
|
5,917 |
|
|
|
6,454 |
|
Equity in earnings of
unconsolidated subsidiaries, net
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,862 |
|
|
|
1,862 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
75,057 |
|
|
|
14,470 |
|
|
|
14,277 |
|
|
|
7,930 |
|
|
|
111,734 |
|
|
|
8,060 |
|
|
|
7,892 |
|
|
|
(20,914 |
) |
|
|
106,772 |
|
Restructuring charges, net
|
|
|
(340 |
) |
|
|
2,569 |
|
|
|
— |
|
|
|
— |
|
|
|
2,229 |
|
|
|
— |
|
|
|
(99 |
) |
|
|
— |
|
|
|
2,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
|
|
$ |
74,717 |
|
|
$ |
17,039 |
|
|
$ |
14,277 |
|
|
$ |
7,930 |
|
|
$ |
113,963 |
|
|
$ |
8,060 |
|
|
$ |
7,793 |
|
|
$ |
(20,914 |
) |
|
$ |
108,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Identifiable
assets(2)
|
|
$ |
177,774 |
|
|
$ |
156,485 |
|
|
$ |
77,694 |
|
|
$ |
21,143 |
|
|
$ |
433,096 |
|
|
$ |
79,774 |
|
|
$ |
81,544 |
|
|
$ |
377,266 |
|
|
$ |
971,680 |
|
Long-lived
assets(2)
|
|
$ |
22,249 |
|
|
$ |
5,319 |
|
|
$ |
2,633 |
|
|
$ |
808 |
|
|
$ |
31,009 |
|
|
$ |
1,559 |
|
|
$ |
2,410 |
|
|
$ |
8,164 |
|
|
$ |
43,142 |
|
Goodwill(2)
|
|
$ |
57,319 |
|
|
$ |
53,908 |
|
|
$ |
972 |
|
|
$ |
— |
|
|
$ |
112,199 |
|
|
$ |
36,251 |
|
|
$ |
35,502 |
|
|
$ |
— |
|
|
$ |
183,952 |
|
(1) |
The Company recorded an
adjustment to the fair value of contingent consideration for a
prior acquisition of $2.2 million and $4.9 million during the years
ended April 30, 2012 and 2011, respectively. |
(2) |
As of the end of the fiscal
year. |
|