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Business Segments
 12 Months Ended
Apr. 30, 2012
Business Segments
11. Business Segments

The Company operates in two global business segments: Executive Recruitment and High Impact Recruitment Solutions — Futurestep. The Executive Recruitment segment focuses on recruiting board-level, chief executive and other senior executive positions for clients predominantly in the consumer, financial services, industrial, life sciences/healthcare provider and technology industries and provides other related talent management consulting services. Futurestep creates customized, flexible high impact recruitment solutions to meet specific workforce needs of organizations around the world. Their portfolio of services include recruitment process outsourcing, talent acquisition and management consulting services, project-based recruitment, mid-level recruitment and interim professionals. The Executive Recruitment business segment is managed by geographic regional leaders. Futurestep’s worldwide operations are managed by the Chief Executive Officer of Futurestep. The Executive Recruitment geographic regional leaders and the Chief Executive Officer of Futurestep report directly to the Chief Executive Officer of the Company. The Company also operates a Corporate segment to record global expenses of the Company.

 

Financial highlights by business segment are as follows:

 

    Year Ended April 30, 2012  
    Executive Recruitment                    
    North
America		     EMEA     Asia
Pacific		     South
America		     Subtotal     Futurestep     Corporate (1)     Consolidated  
    (in thousands)  

Fee revenue

   $ 381,483      $ 164,161      $ 95,206      $ 35,759      $ 676,609      $ 113,896      $ —      $ 790,505   

Total revenue

   $ 402,992      $ 169,652      $ 97,599      $ 36,523      $ 706,766      $ 119,993      $ —      $ 826,759   

Operating income (loss)

   $ 89,424      $ 17,171      $ 13,084      $ 8,815      $ 128,494      $ 6,245      $ (51,873 )    $ 82,866   

Depreciation and amortization

   $ 6,937      $ 2,030      $ 1,412      $ 374      $ 10,753      $ 1,070      $ 2,194      $ 14,017   

Identifiable assets(2)

   $ 247,775      $ 145,348      $ 79,101      $ 22,957      $ 495,181      $ 90,560      $ 428,948      $ 1,014,689   

Long-lived assets(2)

   $ 24,852      $ 7,552      $ 4,012      $ 955      $ 37,371      $ 3,420      $ 9,017      $ 49,808   

Goodwill(2)

   $ 91,859      $ 50,664      $ 972      $ —      $ 143,495      $ 32,843      $ —      $ 176,338   
    Year Ended April 30, 2011  
    Executive Recruitment                    
    North
America		     EMEA     Asia
Pacific		     South
America		     Subtotal     Futurestep     Corporate (1)     Consolidated  
    (in thousands)  

Fee revenue

   $ 375,971      $ 155,782      $ 90,346      $ 31,959      $ 654,058      $ 90,191      $ —      $ 744,249   

Total revenue

   $ 395,008      $ 160,401      $ 92,340      $ 32,550      $ 680,299      $ 95,952      $ —      $ 776,251   

Operating income (loss)

   $ 80,685      $ 11,628      $ 11,611      $ 7,475      $ 111,399      $ 4,955      $ (30,569 )    $ 85,785   

Depreciation and amortization

   $ 6,465      $ 2,036      $ 1,028      $ 340      $ 9,869      $ 926      $ 1,876      $ 12,671   

Identifiable assets(2)

   $ 252,122      $ 159,134      $ 80,471      $ 21,143      $ 512,870      $ 81,544      $ 377,266      $ 971,680   

Long-lived assets(2)

   $ 23,690      $ 5,330      $ 2,740      $ 808      $ 32,568      $ 2,410      $ 8,164      $ 43,142   

Goodwill(2)

   $ 93,570      $ 53,908      $ 972      $ —      $ 148,450      $ 35,502      $ —      $ 183,952   
    Year Ended April 30, 2010  
    Executive Recruitment                    
    North
America		     EMEA     Asia
Pacific		     South
America		     Subtotal     Futurestep     Corporate     Consolidated  
    (in thousands)  

Fee revenue

   $ 278,746      $ 137,497      $ 64,132      $ 24,026      $ 504,401      $ 67,979      $ —      $ 572,380   

Total revenue

   $ 294,588      $ 141,982      $ 65,508      $ 24,536      $ 526,614      $ 73,035      $ —      $ 599,649   

Operating income (loss)

   $ 42,604      $ (15,511 )    $ 7,826      $ 3,286      $ 38,205      $ 1,291      $ (42,218 )    $ (2,722 ) 

Depreciation and amortization

   $ 4,561      $ 2,196      $ 1,163      $ 439      $ 8,359      $ 1,007      $ 2,127      $ 11,493   

Identifiable assets(2)

   $ 211,728      $ 135,165      $ 71,993      $ 21,195      $ 440,081      $ 69,085      $ 317,932      $ 827,098   

Long-lived assets(2)

   $ 8,918      $ 2,960      $ 1,610      $ 1,041      $ 14,529      $ 1,480      $ 8,954      $ 24,963   

Goodwill(2)

   $ 88,612      $ 50,389      $ 972      $ —      $ 139,973      $ 32,300      $ —      $ 172,273   

 

(1) The Company recorded an adjustment to the fair value of contingent consideration for a prior acquisition of $2.2 million and $4.9 million during the years ended April 30, 2012 and 2011, respectively.

 

(2) As of the end of the fiscal year.

The Company’s clients were not concentrated in any specific geographic region and no single client accounted for a significant amount of the Company’s revenue during fiscal 2012, 2011 or 2010.