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Earnings Analysis: 
Korn Ferry and E-House Decline
Author: 123jump.com Staff
123jump.com
Last Update: 3:47 PM EST March 07 2008



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Korn Ferry revenue in the third quarter rose 22% to $201 million and earnings per share increased to 37 cents from 33 cents a year ago. The stock has been under pressure in the last nine months and has declined from a high of $27 to as low as $13. E-House China Limited fell after it reported fourth quarter revenue increase of 46% to $50.4 million and earnings rise of 32% to $22.4 million.

 
Korn/Ferry International (KFY: chart), a recruitment services manager reported third quarter 2008 fee revenue increased 22% to $201.2 million, or an increase of $36.0 million, from $165.2 million in the same quarter last year. Diluted earnings per share was $0.37, an increased of 12% compare to $0.33 for the same quarter of 2007.

""As the world has flattened demand for talent worldwide has intensified,"" said Gary D. Burnison, Chief Executive Officer, Korn/Ferry. ""Our performance this quarter has set a new industry record and is indicative of the ongoing need for organizations to recruit and develop their people. We are focused on using our global scale, our diversified services, and our strong brand to help our clients identify, hire and develop the best leaders in the world.""

Korn/Ferry stock fell 53 cents to $15.71.

E-House (China) Holdings Limited (EJ: chart) a real estate broker in China said that revenues were $50.4 million for the fourth quarter of 2007, an increase of 46% from $34.5 million for the same period in 2006. Net income was $22.4 million for the fourth quarter in 2007, an increase of 32% or $0.29 diluted earnings per ADS from $17.0 million for the same period in 2006.

For the full year 2007 total revenues were $121.0 million, an increase of 116% from $56.0 million a year-ago. Net income for the full year 2007 an increase of 130% to $41.7 million, or $0.56 diluted earnings per share ADS from $18.1 million in 2006.

E-House stock declined 85 cents to $14.17.
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