Korn Ferry (NYSE:KFY) Q1 2021 Earnings Conference Call - Final Transcript

Sep 03, 2020 • 12:00 pm ET


Korn Ferry (NYSE:KFY) Q1 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Korn Ferry First Quarter Fiscal Year 2021 Conference Call.

[Operator Instructions]

We have also made available in the Investor Relations section of our website at kornferry.com, a copy of the financial presentation that we will be reviewing with you today.

Before I turn the call over to your host, Mr. Gary Burnison, let me first read a cautionary statement to investors. Certain statements made in the call today, such as those relating to future performance, plans and goals constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, and investors are cautioned to be -- cautioned not to place undue reliance on such statements, actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties, which are beyond the company's control. Additional information concerning such risks and uncertainties can be found in the release relating to this presentation. And in the periodic and others [Phonetic] reports filed by the company with the SEC, including the company's annual report for fiscal year 2020 and in the company's soon-to-be-filed quarterly report for the quarter ended July 31, 2020.

Also some of the comments today may reference non-GAAP financial measures such as constant currency amounts, EBITDA and adjusted EBITDA. Additional information concerning these measures, including reconciliations to the most directly comparable GAAP financial measure is contained in the financial presentation and earnings release relating to this call, both of which are posted in the Investor Relations section of the company's website at www.kornferry.com.

With that, I will turn the call over to Mr. Burnison. Mr. Burnison, please go ahead, sir.

Gary D. Burnison

Okay. Thank you, Steven, and good afternoon, good morning, everybody.

It's been six months since the pandemic was officially declared and I think the world is at the beginning of an Ironman Triathlon. It's not just a marathon but a triathlon of endurance, agility, change. In fact, I think over the next two years, we're going to see more change than we've seen in the past 10. Change will circle humanity. And in business, different work will need to get done and work will need to get done differently. Almost every company on the planet is going to have to reimagine their business, whether that's rethinking their organizational atmosphere, their structure, roles, responsibilities, how they compensate, how they engage, how they develop their workforce. There is -- change is going to be all around us. They're going to need to hire learning, agile, diverse talent, and do so in a more inclusive ethos and in an increasingly digital world and that's the essence of Korn Ferry's business, to enable people and organizations to exceed their potential, to be more of them.

In early March, we were announcing the best results in our history. Record fee revenue and the continued transformation