Korn Ferry

Ladies and gentlemen, thank you for standing by. Welcome to the Korn Ferry fourth quarter fiscal year 2021 conference call. At this time, all participants are in listen only mode. Following the prepared remarks, we will conduct a question and answer session. As a reminder, this conference is being recorded for replay purposes. We have also made available the investor relations section of our website at KornFerry.com, a copy of the financial presentation that we will be reviewing with you today. Before I turn the call over to your host, Mr. Gary Burnison, let me first read a cautionary statement to investors. Certain statements made in the call today, such as those relating to future performance plans and goals, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the company believes the expectations reflected in such forward-looking statements are based on a reasonable assumptions, investors are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties which are beyond the company's control. Additional information concerning such risks and uncertainties can be found in the release relating to this presentation and in the periodic and other reports filed by the company with the SEC including the company's soon to be filed annual report for fiscal year 2021. Also, some of the comments today may reference non-GAAP financial measures such as constant currency amounts EBITDA and adjusted EBITDA, additional information concerning these measures including reconciliations to the most direct comparable GAAP financial measure is contained in the financial presentation and earnings release relating to this call, both of which are posted in the investor relations section of the company's website at www.cornferry.com. With that, I'll turn the call over to Mr. Burnison. Please go ahead, Mr. Burnison.

Okay, thank you, Brad. Good morning, good afternoon to everyone. Thank you for joining us. Man, what a difference a year makes. You know, last April was rather dark, I think, for all of us. And May with the George Floyd tragedy, it was hopeless. And boy, I'll tell you, the company has rebounded tremendously. And in particular, our colleagues have shown incredible resilience over the past year. You know, I'm proud of our colleagues. I'm proud of our company. what we've accomplished, and our performance, you know, amid the continuing echo of change in this post-pandemic world. We are the world's premier organizational consultancy. There's no question about that. It's definitely working. We're meeting the key objectives that we discussed last quarter, which included diversifying our offerings. capitalizing on our leadership and relevant solutions, driving an integrated go-to-market strategy, advancing our position as a premier career destination, and pursuing transformational opportunities at the intersection of talent and strategy. And all of this is translating to what I believe is outstanding performance. During the quarter, we generated about $555 million in fee revenues, an all-time high. That was up 26% year over year. Our profitability was strong. We had an adjusted EBITDA margin of a little over 20% and adjusted EPS of $1.21. We've clearly accelerated through the term and it's a testament to the pivot we made and the agility of our colleagues over this past year. The diversity and relevance of our offerings and our ability to deliver our consulting services. in a virtual world have helped clients achieve organizational opportunities and our company deliver strong financial results. You know, in this new world, there's tangible opportunity for Korn Ferry. The center of gravity for today's workforce is shifting from a place of work to a location for collaboration. It's no longer about the where. It's all about the why and how work gets done differently. Almost every company on the planet is reimagining, and they'll have to continue to reimagine its business from a strategy to its people, to its culture.

Quite simply, companies are rethinking their organizational structure, roles, and responsibilities, how they compensate, how they motivate, how they engage, how they develop their workforce, let alone the type of agile talent they hire and how they hire that talent. And they're going to need to lead differently.