Korn Ferry FY 4Q16 Earnings Call Notes

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Korn/Ferry International’s (KFY) CEO Gary Burnison on Q4 2016 Results

The reality is that there are conflicting economic signals

“Now to the other side of the coin, the reality is, if you look around the world today, there are conflicting economic signals and it’s particularly tough to read given next Thursday’s vote in Britain in addition to the normal summer seasonality”

The Breaxit vote has definitely impacted clients making decisions in Europe

“It’s very difficult to reiterate now and it’s hard to say with the typical summer malaise or whether there is something that is broader than that. Certainly the vote next week in Britain has impacted not proposal activity but it has impacted clients making decisions. We have absolutely seen that in Europe and to some extent we’ve seen that in North America. Now I cannot attribute the North America directly to Brexit but it’s very difficult to read the tea leaves today.”

Robert Rozek

Seeing sluggish business globally for executive search

“So in Executive Search, new business in May was down from March and April levels, which is the consistent pattern that we see on a historical basis. However, with approximately one-half of the month of June behind us, we are seeing sluggish new business globally for Executive Search.”