Shares of Korn Ferry (KFY) - Get Report tumbled 17% to $40.27 Friday after the staffing and outsourcing company beat Wall Street's fourth-quarter earnings expectations but offered weak guidance.

The Los Angeles-based company reported net income of $50.3 million, or 89 cents a share, ahead of analysts' estimates of 88 cents. Revenue totaled $490.76, up from $475.4 million a year ago.

In the same period a year ago, the company posted earnings of 80 cents a share on sales of $475.4 million. The company reported net income of $27 million. 

Fee revenue was $490.8 million, up 3% from a year ago.

Looking ahead, Korn Ferry forecast first-quarter earnings of 73 cents to 81 cents a share and sales of $466 million to $486 million. Analysts were calling for earnings of 80 cents a share and sales of $489.2 million.

"We have made tremendous progress in the recently completed fiscal year. Korn Ferry is now the organizational consultancy that helps companies look at talent and strategy together," said Gary D. Burnison, CEO of Korn Ferry, in a statement. "We help companies make sure they have the right people, in the right places and for the right rewards. We bring their strategies to life by redesigning their organizational structure, helping them hire, motivate and hold on to the best people, with the right skills and mindset for the future."