Strong Economy Drives Continued Demand for Senior Executives
New Delhi (ANTARA News/PRNewswire-AsiaNet) - The Indian offices of the world's premier
executive search firm, Heidrick & Struggles, today reported a 29.1 percent increase in net revenue to US$6.5 million for 2007, reflecting the continued strength of the economy and demand for talent.
Partner-in-charge Arun Shankar Das Mahapatra says that the strong economy is driving a commensurate strong demand for senior executive talent.
"The hottest sectors are infrastructure, real estate and construction, building on our experience across industrial, information technology, retail and consumer sectors," Das Mahapatra says.
"After a high-growth year in 2006, last year was a year of consolidation for us," he says. "But we expect that 2008 will be another big year. We are taking on another three or four consultants to meet the increasing demand."
Across the Asia Pacific region, net revenue for 2007 increased by 58.8 percent to US$78.6 million, or approximately 51 percent on a constant currency basis. Operating income of US$15.9 million increased 20.1 percent over 2006 and the operating margin was 20.3 percent, compared with 26.8 percent in 2006.
Globally, for the year ended December 31, 2007, Heidrick & Struggles reported consolidated net revenue of US$619.7 million, an increase of 29.5 percent from US$478.5 million in 2006.
In 2008, the company expects worldwide consolidated net revenue of between US$650 and US$670 million, representing growth of between 5 percent and 8 percent over 2007 net
revenue. The company is targeting a 2008 full-year operating margin of 13 percent.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness. For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide. Today, Heidrick &
Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit http://www.heidrick.com .
Safe Harbor Statement
This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions.
Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search consultants; the condition of the economies in the United States, Europe, or elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Thomas Liddle
Communications Consultant
Tel: +61-2-8205-2376
Email: tliddle@heidrick.com
Eric Sodorff
Director, Corporate Communications
Tel: +1-312-496-1613
Email: esodorff@heidrick.com
SOURCE Heidrick & Struggles International, Inc.
New Delhi (ANTARA News/PRNewswire-AsiaNet) - The Indian offices of the world's premier
executive search firm, Heidrick & Struggles, today reported a 29.1 percent increase in net revenue to US$6.5 million for 2007, reflecting the continued strength of the economy and demand for talent.Partner-in-charge Arun Shankar Das Mahapatra says that the strong economy is driving a commensurate strong demand for senior executive talent.
"The hottest sectors are infrastructure, real estate and construction, building on our experience across industrial, information technology, retail and consumer sectors," Das Mahapatra says.
"After a high-growth year in 2006, last year was a year of consolidation for us," he says. "But we expect that 2008 will be another big year. We are taking on another three or four consultants to meet the increasing demand."
Across the Asia Pacific region, net revenue for 2007 increased by 58.8 percent to US$78.6 million, or approximately 51 percent on a constant currency basis. Operating income of US$15.9 million increased 20.1 percent over 2006 and the operating margin was 20.3 percent, compared with 26.8 percent in 2006.
Globally, for the year ended December 31, 2007, Heidrick & Struggles reported consolidated net revenue of US$619.7 million, an increase of 29.5 percent from US$478.5 million in 2006.
In 2008, the company expects worldwide consolidated net revenue of between US$650 and US$670 million, representing growth of between 5 percent and 8 percent over 2007 net
revenue. The company is targeting a 2008 full-year operating margin of 13 percent.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness. For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide. Today, Heidrick &
Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit http://www.heidrick.com .
Safe Harbor Statement
This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions.
Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search consultants; the condition of the economies in the United States, Europe, or elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Thomas Liddle
Communications Consultant
Tel: +61-2-8205-2376
Email: tliddle@heidrick.com
Eric Sodorff
Director, Corporate Communications
Tel: +1-312-496-1613
Email: esodorff@heidrick.com
SOURCE Heidrick & Struggles International, Inc.
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