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What: Shares of Korn/Ferry International
So what: Fiscal fourth-quarter revenue rose 16% to $205.8 million while adjusted earnings more than doubled to $0.39 a share. Analysts had been expecting $191 million and $0.32, respectively.
Now what: The results suggest that while unemployment remains a problem on the whole, cash-rich firms are hiring at the executive level. (Fees from placement services rose 17% for the quarter and 30% for the year.) There's still risk that an uncertain economy could stall Korn/Ferry's growth from here, but at 17 times forward earnings the stock is priced at a modest premium to the long-term profit growth analysts expect. I can't blame Fools for giving this stock four of five stars in Motley Fool CAPS.
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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out his portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader.
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