Another Reason to Join ASA: Free Webinars and Archived Courses
Korn/Ferry International Announces Fiscal 2012 and Fourth Quarter Results of Operations
Korn/Ferry International News Release (06/13/12)
Korn/Ferry International has announced near record fiscal year 2012 fee revenue of $790.5 million compared with fee revenue of $744.3 million in FY 2011. FY 2012 diluted earnings per share was $1.15, and excluding separation and restructuring charges, net, adjusted diluted earnings per share was $1.19 for FY 2012. Fee revenue was $198.1 million in the fourth quarter of FY 2012, compared with $197.3 million in the fourth quarter of FY 2011, an increase of $0.8 million.
“I am pleased with our results for the fiscal year and our overall progress in making the Korn/Ferry brand synonymous with talent management,” says Gary Burnison, CEO of Korn/Ferry International. “For the fiscal year, we increased our global revenue 6% to $790 million, with an adjusted operating
margin of almost 11%. Our newer offerings, Futurestep and Leadership and Talent Consulting, experienced double digit growth for the fiscal year, further validating our differentiated strategy.”
Jobless Claims in U.S. Unexpectedly Rose Last Week
Bloomberg BusinessWeek (06/14/12) Alex Kowalski
The number of Americans who filed requests for jobless benefits rose by 6,000 last week to 386,000, the U.S. Department of Labor reported today. Claims from two weeks ago were revised up to 380,000 from 377,000. Economists projected claims would fall to 375,000, according to the median estimate in a Bloomberg News survey. The average of new claims over the past four weeks, meanwhile, increased by 3,500 to 382,000, the highest level in six weeks.
Dewey’s Former Leaders Sued
Wall Street Journal (06/13/12) Jennifer Smith
Henry Bunsow, a former partner at Dewey & LeBoeuf LLP, has accused the bankrupt firm’s former leadership of running a “Ponzi scheme” that used money invested by new partners to enrich themselves and others. The firm filed a bankruptcy petition May 28, after most of its partners left amid disputes over compensation and concerns about the firm’s financial viability. The firm owes more than $315 million to various creditors, including staffing firms.
Arizonans Facing Cuts in Unemployment Benefits
Arizona Daily Sun (06/13/12)
The Arizona Department of Economic Security says federal unemployment assistance will drop to 79 weeks beginning June 22 from 99 weeks at the peak of the recession, with around 700 jobless residents possibly losing benefits each week. DES anticipates a decline this month in the state’s unemployment rate to below 9%, which is the minimum rate states must report over a three-month period to be eligible for specific federal benefits. The unemployment rate for May will likely be less than 8.5%, and federal benefits could be reduced to 54 weeks if it falls under 7%.
ASA for You
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