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CTPartners Executive Search Inc. Announces First Quarter 2012 Financial Results

CTPartners Executive Search Inc. (AMEX: CTP), a leading global retained executive search firm, today announced results for the quarter ended March 31, 2012.

“We are very pleased with our operating performance in Q1 2012 during this challenging global economic time. Our Partners around the world continue to operate as the quality leaders in the search business, and our Latin American acquisition was both accretive and added significantly to our geographic and practice diversification growth strategy,” said Brian Sullivan, CEO.

Q1 2012 Highlights

  • Revenue of $32.4 million and EPS of $.05 outperformed the upper end of our guidance of $31 million and $.02
  • Our Latin American acquisition added $3.0 million in revenue, 71 searches and $.6 million in operating contribution
  • Consultant headcount increased by 16 to 113
  • Our Consumer/Retail practice increased by 217% to $5.8 million, and Industrial grew by 27% to $2.8 million
  • While our revenue grew 6% year over year, financial services became 30% of our revenue, down from 35%

Q1 2012 Results

For the three months ended March 31, 2012, net revenue increased $1.9 million, or 6.3%, to $32.4 million, compared to $30.5 million in the prior year.

Revenue Breakdown by Region:

YEAR OVER YEAR     Q1 2012     Q1 2011            
By Region     Revenue     %       Revenue     %  

 

 

Increase /(Decrease)

 

  %  
                       
North America     $ 20,123,089     62.1 %     $ 18,642,247     61.2 %     $ 1,480,842       7.9 %
EMEA       6,721,946     20.8 %       8,462,925     27.7 %       (1,740,979 )     -20.6 %
Asia Pacific       2,603,859     8.0 %       3,376,020     11.1 %       (772,161 )     -22.9 %
Latin America       2,953,851     9.1 %       -     0.0 %       2,953,851       100.0 %
TOTAL     $ 32,402,745     100 %     $ 30,481,192     100 %     $ 1,921,553       6.3 %

An 8% increase in North America, and $3 million in new revenue from Latin America was partially offset by weakness in EMEA and Asia Pacific.

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