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Korn/Ferry beats Street 2Q forecasts

LOS ANGELES (AP) _ Korn/Ferry International (KFY) on Wednesday reported fiscal second-quarter earnings of $36.3 million.

On a per-share basis, the Los Angeles-based company said it had profit of 64 cents. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The staffing company posted revenue of $455.5 million in the period. Its adjusted revenue was $443 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $421.1 million.

For the current quarter ending in February, Korn/Ferry expects its per-share earnings to range from 54 cents to 62 cents.

The company said it expects revenue in the range of $406 million to $426 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $400.2 million.

Korn/Ferry shares have risen 43 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.16, a rise of 55 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KFY at https://www.zacks.com/ap/KFY