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Korn Ferry International Announces Fourth Quarter and Fiscal 2014 Results of Operations

Korn/Ferry International News Release (06/16/14)

Korn/Ferry International reported revenues of $251.7 million for the fiscal fourth quarter, up 10.4% from $227.9 million in the year-ago quarter, and $960.3 million for fiscal 2014, up 18.1% (19.1% in constant currency) from $812.8 million in fiscal 2013. Net income totaled $21.2 million in the fourth quarter, up 73.8% from $12.2 million, and $72.7 million for fiscal 2014, up 118.3% from $33.3 million.

By segment, revenue totaled $148.2 million in the fourth quarter for Executive Recruitment, up 8.3% from $136.8 million; $66.2 million for Leadership & Talent Consulting, up 10.1% from $60.1 million; and $37.3 million for Futurestep, up 20.3% from $31 million. Fiscal 2014 revenue totaled $568.9 million for Executive Recruitment, up 8.9% from $522.5 million; $254.6 million for Leadership & Talent Consulting, up 51.5% from $168.1 million; and $136.8 million for Futurestep, up 12% from $122.2 million.

U.S. Industrial Production Rises 0.6% in May

Wall Street Journal (06/17/14) Ben Leubsdorf

Industrial production in May increased a seasonally adjusted 0.6% from April, indicating that growth in the sector is back on track following a difficult winter, according to the U.S. Federal Reserve. Economists surveyed by the Wall Street Journal had predicted an increase of 0.5%, and it was the third increase in four months. There was a 1.5% rise in automotive production, a 1.1% increase in machinery production, and a 1.3% jump in mining production. Capacity utilization rose 0.2% to 79.1%, while economists had forecast 78.9%.

Consumer Prices in U.S. Increase by Most in More Than a Year

Bloomberg (06/17/14) Jeanna Smialek; Shobhana Chandra

The consumer price index went up by 0.4% in May, according to the U.S. Department of Labor, signaling that inflation will move closer to the U.S. Federal Reserve’s goals and that the central bank can continue to scale back its unprecedented bond-buying program. The increase was the largest since February 2013 and follows a 0.3% increase from the following month. The 81 economists surveyed by Bloomberg had predicted a 0.2% rise.

Obama to Bar Gay Discrimination by Federal Contractors

Wall Street Journal (06/17/14) Carol Lee

President Barack Obama plans to sign an executive order barring federal contractors from hiring or firing employees based on their sexual orientation or gender identity. Over the next few weeks, the White House will be finalizing details, including possible exemptions for religious nonprofit organizations. Administration officials say Obama decided to act unilaterally in the absence of momentum for legislation with broader protections. House Republicans have declined to allow a vote on legislation that would bar most employers, not just federal contractors, from discriminating against gay, lesbian and transgender workers, saying it could lead to frivolous lawsuits and affect the religious liberty of employers. That bill, called the Employment Nondiscrimination Act, passed in the Senate last year with some GOP support but stalled in the House.

Staffing World® 2014 Is Coming—Register by Sept. 5 to Save

Staffing World 2014, the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry, takes place Oct. 13–15 at the Gaylord National Resort and Convention Center in metro Washington, DC. Get more information and register online at ASA members save even more, so join today.