Business
The Caldwell Partners International Issues Fiscal 2015 First Quarter Financial Results
Year-over-year first quarter revenue increase of 20%. First quarter operating income...
About this update from Caldwell Partners International Inc.
[{"type":"text","content":"\n\n\nYear-over-year first quarter revenue increase of 20%. \nFirst quarter operating income is $307,000. \nBoard declares 2.0 cent quarterly dividend.\n\n\nTORONTO, Jan. 8, 2015 /CNW/ - Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2015 first quarter ended November 30, 2014. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.\n\nFinancial Highlights (in $000s except per share amounts)\n\n\n\n\n\nThree Months Ended \n\nNovember 30, \n\n\n\n\n2014\n\n\n2013\n\n\n\nRevenue\n\n\n12,436\n\n\n10,339\n\n\n\nOperating expenses\n\n\n12,129\n\n\n9,931\n\n\n\nOperating profit\n\n\n307\n\n\n408\n\n\n\nInvestment income\n\n\n13\n\n\n1\n\n\n\nEarnings before tax\n\n\n320\n\n\n409\n\n\n\nNet earnings\n\n\n277\n\n\n393\n\n\n\nEarnings per share\n\n\n$0.013\n\n\n$0.023\n\n \n\n\"We have seen solid year-over-year growth in our quarterly revenues,\" said John N. Wallace, chief executive officer. \"And while there will always be market fluctuations and economic uncertainties, our team is composed of truly experienced search people, who are well-equipped to weather turbulence in the marketplace.\" \n\nWallace continued: \"Our partner and support teams continue to operate at extremely high productivity levels, and we remain focused on making targeted, strategic additions to our team. Our October 1, 2014 acquisition of London-based Hawksmoor Search Limited established our footprint into the European market and has created what we believe to be the premier insurance practice in the executive search industry.\" \n\nThe Board of Directors today also declared the payment of a quarterly dividend of 2.0 cents per Common Share payable on March 12, 2015 to shareholders of record on January 26, 2015.\n\nFinancial Overview (all numbers expressed in $000s)\n\n\nOperating revenue:\n\nFiscal 2015 first quarter operating revenue increased by 20% (15% excluding a 5% variance from exchange rate fluctuations) over the comparable period last year to $12,436 (2014: $10,339). \nUS revenues increased 24% (16% excluding an 8% favourable variance from exchange rate fluctuations) to $8,144 (2014: $6,543), driven primarily by an increase in search volumes partially offset by lower average fees during t...