Heidrick & Struggles International Inc. News Release (02/26/13)
Heidrick & Struggles International Inc. on Feb. 26 announced financial results for the fourth quarter and 2012. Consolidated net revenue was $103.9 million in the fourth quarter, down 18.3% from $127.2 million in the 2011 fourth quarter. The company reported a net loss in the 2012 fourth quarter of $0.4 million, compared with a net loss of $4.1 million for the same period in 2011. Net revenue in the Americas declined $11.6 million or 16.7% year-over-year in the fourth quarter.
For all of 2012, consolidated net revenue of $443.8 million declined 15.9% (approximately 14% on a constant currency basis) from $527.8 million in 2011. Exchange rate fluctuations negatively impacted net revenue by $7.7 million. Net income for 2012 was $6.2 million, compared with a net loss in 2011 of $33.7 million. Net revenue decreased $32.1 million or 11.2% in the Americas region.