Korn Ferry (NYSE:KFY) Q4 2019 Earnings Conference Call - Final Transcript

Jun 20, 2019 • 04:30 pm ET


Korn Ferry (NYSE:KFY) Q4 2019 Earnings Conference Call - Final Transcript


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Robert Rozek

up only approximately 1% year-over-year in May. If monthly new business trends continue, we expect year-over-year growth in Exec Search new business awards to remain essentially flat in June and July.

For Advisory, new business in the first quarter is typically down sequentially from the fourth quarter. Similar to Exec Search, Advisory had a good month of new business in April, up nearly 5% year-over-year, but May was soft or down approximately 7%.

For Professional Search, new business measured year-over-year for May was up approximately 4% in constant currency. For RPO, both business under contract and the pipeline of potential new business opportunities remains strong and we expect accelerated growth to continue in the first quarter. Considering these factors and assuming worldwide economic conditions, financial markets and foreign exchange rates remain steady. We expect our consolidated fee revenue in the first quarter of fiscal '20 to range from $466 million to $486 million, and we expect our consolidated good (technical difficulty) earnings per share to range from $0.73 to $0.81.

So, with that, Gary, anything you want to add before we go to questions?

Gary Burnison

I would just -- I'd re-emphasize that for any CEO or for any Board, talent without strategy is helpless; strategy without talent is hopeless. I mean, it really does come down to those two elements and how you synchronize strategy and talent to drive superior performance. And I think that this is the company that we're building. We have to continue to move our firm towards a more solutions and industry orientation, which we're going to do. But I think the opportunity is truly ours for the taking. As we continue to extend the brand and the partnership with the PGA Tour, I think it's going to pay off for us in telling our story and as we continue to broaden our solutions.

So, now, I think, with that, we'll turn it over to the operator and love to have your questions.