Shares in Korn/Ferry International slipped nearly 7 percent Thursday after the company reported strong first quarter earnings that missed analysts' estimates.
Korn/Ferry reported first quarter net income of $17 million (36 cents per share), a 24 percent increase from $13.7 million (31 cents) from the same period a year earlier, falling short of analysts' predictions of 41 cents per share, according to Thomson Financial.
Revenue for the Los Angeles-based executive search firm also rose 22 percent to $196 million, also falling short of Wall Street's expectations of $207 million.
Korn/Ferry added that it expects second-quarter earnings of between 30 cents to 36 cents per share on revenues of $174 million to $184 million, both below current Wall Street estimates of 38 cents per share revenues of $193 million.
Shares in Korn/Ferry lost 6.5 percent, or $1.30, to $18.86 in afternoon trading on the Nasdaq.
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