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PR Newswire | 05. Dezember 2019, 22:05
Korn Ferry Announces Second Quarter Fiscal 2020 Results of Operations
LOS ANGELES, Dec. 5, 2019 /PRNewswire/ --
Highlights
- Korn Ferry reports fee revenue of $492.4 million in Q2 FY'20.
- Net income attributable to Korn Ferry was $42.8 million in Q2 FY'20.
- Operating income was $61.9 million in Q2 FY'20 with an operating margin of 12.6%. Adjusted EBITDA was $78.3 million with Adjusted EBITDA margin of 15.9%.
- Q2 FY'20 diluted earnings per share and adjusted diluted earnings per share was $0.77 and $0.81, respectively.
- The Company continued with its balanced approach to capital allocation, buying back 1.3 million shares or $49.2 million of stock during the quarter and declaring a quarterly dividend of $0.10 per share on December 4, 2019 payable on January 15, 2020 to stockholders of record on December 20, 2019.
Korn Ferry (NYSE: KFY), a global organizational consulting firm, today announced second quarter fee revenue of $492.4 million. 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.
"For Korn Ferry's recently completed second quarter, we generated fee revenue of approximately $492 million (down 1% using actual rates; up 1% on a constant currency basis) and consistent profitability with an Adjusted EBITDA margin of almost 16%. Despite the confused socio-political climate, we continued to have a long-term balanced approach to capital deployment, acquiring three leadership development companies while repurchasing almost $50 million of stock during the quarter in addition to our normal quarterly dividend," said Gary D. Burnison, CEO, Korn Ferry.
"We have historically only focused on a 10 percent subset of the $300 billion market for learning and development. The recent acquisitions of Miller Heiman, Strategy Execution and AchieveForum add professional development capabilities that will leverage our Korn Ferry Digital platform, tapping a much broader market opportunity. Last month we celebrated our 50th anniversary, capping an unprecedented moment in Korn Ferry's history as the preeminent global organizational consulting firm. As our recent acquisitions attest, we continue to evolve our business to help clients synchronize their strategy, operations and talent. I look forward to what the future holds as we ring in a New Year."
Selected Financial Results
(dollars in millions, except per share amounts) (a)
| | Second Quarter | | Year to Date | |||||||||||||||
| | FY'20 | | FY'19 | | FY'20 | | FY'19 | |||||||||||
| Fee revenue | $ | 492.4 | | $ | 495.2 | | $ | 976.9 | | $ | 960.8 | |||||||
| Total revenue | $ | 504.2 | | $ | 506.8 | | $ | 1,000.4 | | $ | 985.2 | |||||||
| Operating income | $ | 61.9 | | $ | 71.0 | | $ | 122.2 | | $ | 15.9 | |||||||
| Operating margin | | 12.6% | | | 14.3% | | | 12.5% | | | 1.7% | |||||||
| Net income attributable to Korn Ferry | $ | 42.8 | | $ | 46.0 | | $ | 85.8 | | $ | 7.4 | |||||||
| Basic earnings per share | $ | 0.78 | | $ | 0.82 | | $ | 1.54 | | $ | 0.13 | |||||||
| Diluted earnings per share | $ | 0.77 | | $ | 0.81 | | $ | 1.54 | | $ | 0.13 | |||||||
| | ||||||||||||||||||
| EBITDA Results (b): | Second Quarter | | Year to Date | |||||||||||||||
| | FY'20 | | FY'19 | | FY'20 | | FY'19 | |||||||||||
| EBITDA | $ | 75.7 | | $ | 77.5 | | $ | 150.7 | | $ | 38.6 | |||||||
| EBITDA margin | | 15.4% | | | 15.7% | | | 15.4% | | | 4.0% | |||||||
| | ||||||||||||||||||
| Adjusted Results (c): | Second Quarter | | Year to Date | |||||||||||||||
| | | | | | FY'20 | | FY'19 | | FY'20 | | FY'19 Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. | |||||||
