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Korn Ferry (KFY-1.67%) has submitted its Form 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports fee revenue of $668.7 million for the quarter, which remained flat compared to the same period last year. The company noted a slight increase in revenue from Executive Search North America and RPO, offset by a decline in Consulting.
Net income attributable to Korn Ferry was $58.4 million, with an Adjusted EBITDA of $114.5 million. The net income margin was 8.7%, and the Adjusted EBITDA margin was 17.1%.
Compensation and benefits expenses decreased by 7% to $425.3 million, driven by a reduction in deferred compensation expenses and lower performance-related bonuses.
General and administrative expenses increased by 4% to $65.3 million, primarily due to impairment charges related to the reduction of the company's real estate footprint.
The company reported a decrease in cost of services to $78.0 million, mainly due to lower contractor costs following the acquisition of Trilogy.
Depreciation and amortization expenses increased by 5% to $20.5 million, reflecting ongoing technology investments.
Interest expense, net was $5.5 million, up from the previous year, primarily due to increased interest expenses on deferred compensation plans.
The income tax provision for the quarter was $22.8 million, with an effective tax rate of 27.8%, compared to 13.1% in the prior year, reflecting a non-recurring tax benefit in the previous year.
Korn Ferry completed the acquisition of Trilogy International for $44.4 million, expanding its Professional Search & Interim business.
The company declared a quarterly dividend of $0.48 per share, reflecting a 30% increase, with payment scheduled for April 15, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Korn Ferry quarterly 10-Q report dated March 11, 2025. To report an error, please email earnings@qz.com.