CTPartners Executive Search Inc. Revised Earnings Guidance for the Fourth Quarter Ended December 31, 2014; Provides Earnings Guidance for the Full Year Ended December 31, 2014, First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015
January 21, 2015 at 04:05 pm
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CTPartners Executive Search Inc. revised earnings guidance for the fourth quarter ended December 31, 2014 and provided earnings guidance for the full year ended December 31, 2014, first quarter ending March 31, 2015 and full year ending December 31, 2015. For the fourth quarter, the company expects fourth quarter net revenue of approximately $42 million, within the range of guidance given on November 5, 2014. This reflects a 22% increase compared to net revenue of $34.3 million in the year-ago fourth quarter. GAAP net loss for the fourth quarter is expected to be in the range of $0.3 million to $0.6 million or $0.04 to $0.08 loss per share, compared to a net income of $0.1 million, $0.02 per share, for last year fourth quarter. As a result, excluding after-tax non-operating items of $0.8 to $1.1 million, adjusted net income is expected to be in the range of $0.5 million to $0.6 million, or $0.06 to $0.08 per share, compared to adjusted net income of $0.9 million or $0.12 per share in the year-ago fourth quarter. The company's previous guidance for the 2014 fourth quarter was adjusted EPS in the range of $0.19 to $0.21.
For the full year, the company expects net revenue will be approximately $172 million, representing a 32% year-over-year increase compared to $130.3 million reported in 2013. GAAP net income is expected to be in the range of $4.0 million to $4.2 million, or $0.53 to $0.56 per share compared to net loss of $1.6 million or $0.23 loss per share in 2013. The company expects adjusted net income, excluding after-tax non-operating items of $1.9 to $2.3 million, for the full year to be in the range of $6.2 to $6.4 million, or $0.82 to $0.85 per share, compared to adjusted net income of $1.8 million or $0.24 per share, reported in 2013, an increase of 3.5 times.
For the first quarter ending March 31, 2015, the company is anticipating net revenue of $43 million to $45 million and adjusted EPS in the range of $0.08 to $0.12.
For the full year ending December 31, 2015, the company expects to report net revenue of approximately $200 million and adjusted EPS in the range of $0.90 to $1.00. Based on the company's preliminary fourth quarter results and full year 2015 outlook revenue is expected to increase approximately 16% as the company continues to expand its presence in key geographies and grow across each of its practice areas.
CTPartners Executive Search Inc. (CTPartners) is a provider of retained executive search services to clients on a global basis. SearchSigma is the Company's retained executive search process. SearchSigma also enables its executive search consultants and the clients to actively monitor the status of each search and make adjustments to the search process as necessary. The Company also offers ClientNet, a system for client communication. The Company's primary six industry practice groups are financial services, professional services, life sciences, technology/media/telecom, consumer/retail, and industrial. The Company helps its clients build leadership teams by facilitating the recruitment and hiring of C-level executives, other senior executives and board members. The Company's retained executive search services focuses on making placements for its clients in a timely manner. During the year ended December 31, 2014, the Company was engaged to perform 1,742 searches.
CTPartners Executive Search Inc. Revised Earnings Guidance for the Fourth Quarter Ended December 31, 2014; Provides Earnings Guidance for the Full Year Ended December 31, 2014, First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015
CTPARTNERS EXECUTIVE SEARCH INC. 
