Heidrick & Struggles International Inc. News Release (04/24/12)

Heidrick & Struggles International Inc. today announced financial results for its first quarter ended March 31, 2012. Consolidated net revenue was $106.5 million in the first quarter, down 7.9% from $115.6 million in the 2011 first quarter. Net income was $0.7 million and diluted earnings per share were $0.04. “We demonstrated considerable progress in managing expenses, which resulted in improvements in operating income and operating margin in a very tough revenue climate,” said chief executive officer L. Kevin Kelly. “Net revenue reflected weak confirmation trends in the 2011 fourth quarter, which continued to some extent into the first quarter.”