Heidrick & Struggles International Inc. News Release (07/28/15)

Heidrick & Struggles International Inc. reported total revenue of $137.7 million in the second quarter of 2015, down 2.3% from $141 million in the second quarter of 2014. Net income totaled $5 million, up 32% from $3.8 million in the year ago quarter.

Net revenue for the company’s Executive Search and Leadership Consulting segment totaled $124.7 million in the 2015 second quarter, down 1.6% from $126.7 million in the 2014 second quarter, with net revenue in the Americas up 7.6% (9.1% in constant currency) from $70.5 million to $75.8 million. Net revenue for its Culture Shaping segment totaled $8.4 million, down 10.5% from $9.4 million a year ago.

CTG News Release (07/28/15)

CTG reported revenue of $94.7 million in the second quarter of 2015, down 6% from $100.3 million in the second quarter of 2014. Net income totaled $554,000, down 83% from $3.2 million in the year-ago quarter. The decrease includes a noncash write-off of the company’s information technology medical management software, and charges related to a workforce reduction in Europe.

North American revenue totaled $78.1 million in the 2015 second quarter, down 3% from $80.5 million in the 2014 second quarter. IT staffing revenue totaled $62.8 million, up 5% from $59.8 million a year ago.

JDSupra (07/27/15) Chuck Kunz III

Corporate Resource Services Inc. and seven affiliates on July 23 filed voluntary chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware, in what seems to be the final steps in an orderly wind-down of the companies that began in February.

Conference Board News Release (07/28/15)

The Conference Board Consumer Confidence Index, which had improved in June, declined in July. The index now stands at 90.9, down from 99.8 in June. The Present Situation Index decreased moderately from 110.3 in June to 107.4 in July, while the Expectations Index declined sharply from 92.8 in June to 79.9 in July.

“Consumers continue to assess current conditions favorably, but their short-term expectations deteriorated this month,” says Lynn Franco, director of economic indicators at the Conference Board. “A less optimistic outlook for the labor market, and perhaps the uncertainty and volatility in financial markets prompted by the situation in Greece and China, appears to have shaken consumers’ confidence. Overall, the index remains at levels associated with an expanding economy and a relatively confident consumer.”

Consumers were slightly less positive about the job market. Those stating jobs are “plentiful” decreased from 21.3% to 20.7%, while those claiming jobs are “hard to get” increased marginally from 26.1% to 26.7%.

Federal Reserve Bank of Dallas (07/27/2015)

Texas factory activity declined slightly in July, according to the Texas Manufacturing Outlook Survey. The production index remained negative but rose for a second consecutive month to -1.9, suggesting further moderation in the decline in manufacturing output. The capacity utilization index edged up to -4.2, suggesting contraction, but the upward movement again this month indicates that the pace of decline continued to slow. The new orders index rebounded strongly in July and posted a reading of 0.7 after six months in negative territory.

Labor market indicators reflected slight employment declines and shorter workweeks. The July employment index was negative for a third consecutive month and edged down to -3.3. Eleven percent of firms reported net hiring, compared with 15% reporting net layoffs. The hours worked index rose from -10.7 to -6.3.