Financial highlights by business segment are as follows:


	Three Months Ended October 31, 2014
	Executive Recruitment
	North America		EMEA			Asia Pacific		South America		Subtotal		LTC			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	82,729	$	36,675		$	21,157	$	8,369	$	148,930	$	66,408		$	40,364	$	—		$	255,702
Total revenue	$	86,252	$	38,054		$	21,716	$	8,383	$	154,405	$	68,477		$	41,835	$	—		$	264,717

Net income																				$	25,403
Other income, net																					(2,362	)
Interest expense, net																					920
Equity in earnings of unconsolidated subsidiaries, net																					(452	)
Income tax provision																					10,907

Operating income (loss)	$	19,117	$	5,621		$	3,424	$	1,699	$	29,861	$	7,762		$	5,150	$	(8,357	)		34,416
Depreciation and amortization		891		446			261		85		1,683		3,279			459		1,358			6,779
Other income (loss), net		194		(1	)		149		13		355		(172	)		25		2,154			2,362
Equity in earnings of unconsolidated subsidiaries, net		110		—			—		—		110		—			—		342			452

EBITDA		20,312		6,066			3,834		1,797		32,009		10,869			5,634		(4,503	)		44,009

Adjusted EBITDA	$	20,312	$	6,066		$	3,834	$	1,797	$	32,009	$	10,869		$	5,634	$	(4,503	)	$	44,009


	Three Months Ended October 31, 2013
	Executive Recruitment
	North America		EMEA		Asia Pacific		South America		Subtotal		LTC		Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	75,183	$	34,221	$	21,722	$	8,866	$	139,992	$	66,078	$	31,898		$	—		$	237,968
Total revenue	$	78,734	$	35,240	$	22,340	$	8,926	$	145,240	$	68,202	$	32,795		$	—		$	246,237

Net income																			$	18,759
Other income, net																				(4,352	)
Interest expense, net																				638
Equity in earnings of unconsolidated subsidiaries, net																				(557	)
Income tax provision																				8,677

Operating income (loss)	$	15,530	$	5,860	$	4,472	$	2,265	$	28,127	$	7,006	$	2,539		$	(14,507	)	$	23,165
Depreciation and amortization		920		452		529		99		2,000		3,161		440			979			6,580
Other income (loss), net		321		48		75		7		451		45		(17	)		3,873			4,352
Equity in earnings of unconsolidated subsidiaries, net		120		—		—		—		120		—		—			437			557

EBITDA		16,891		6,360		5,076		2,371		30,698		10,212		2,962			(9,218	)		34,654
Separation costs		—		—		—		—		—		—		—			2,000			2,000

Adjusted EBITDA	$	16,891	$	6,360	$	5,076	$	2,371	$	30,698	$	10,212	$	2,962		$	(7,218	)	$	36,654


	Six Months Ended October 31, 2014
	Executive Recruitment
	North America		EMEA		Asia Pacific		South America		Subtotal		LTC		Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	165,029	$	76,972	$	40,691	$	14,653	$	297,345	$	129,956	$	79,589	$	—		$	506,890
Total revenue	$	172,334	$	79,483	$	42,085	$	14,692	$	308,594	$	133,897	$	82,551	$	—		$	525,042

Net income																		$	39,936
Other income, net																			(4,539	)
Interest expense, net																			1,714
Equity in earnings of unconsolidated subsidiaries, net																			(918	)
Income tax provision																			16,816

Operating income (loss)	$	38,115	$	8,264	$	5,946	$	1,772	$	54,097	$	11,222	$	8,607	$	(20,917	)		53,009
Depreciation and amortization		1,795		935		555		170		3,455		6,531		905		2,658			13,549
Other income, net		323		45		258		46		672		45		23		3,799			4,539
Equity in earnings of unconsolidated subsidiaries, net		178		—		—		—		178		—		—		740			918

EBITDA		40,411		9,244		6,759		1,988		58,402		17,798		9,535		(13,720	)		72,015
Restructuring charges, net		1,151		3,987		17		377		5,532		2,758		1,424		172			9,886

Adjusted EBITDA	$	41,562	$	13,231	$	6,776	$	2,365	$	63,934	$	20,556	$	10,959	$	(13,548	)	$	81,901


	Six Months Ended October 31, 2013
	Executive Recruitment
	North America		EMEA		Asia Pacific		South America		Subtotal		LTC		Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	149,330	$	68,598	$	42,850	$	15,869	$	276,647	$	126,140	$	63,618	$	—		$	466,405
Total revenue	$	156,845	$	70,697	$	44,267	$	15,962	$	287,771	$	130,284	$	65,769	$	—		$	483,824

Net income																		$	30,176
Other income, net																			(6,619	)
Interest expense, net																			1,229
Equity in earnings of unconsolidated subsidiaries, net																			(1,022	)
Income tax provision																			16,062

Operating income (loss)	$	31,854	$	11,820	$	8,972	$	3,761	$	56,407	$	11,341	$	5,084	$	(33,006	)	$	39,826
Depreciation and amortization		1,883		887		835		173		3,778		6,058		848		1,840			12,524
Other income, net		448		282		92		10		832		53		548		5,186			6,619
Equity in earnings of unconsolidated subsidiaries, net		222		—		—		—		222		—		—		800			1,022

EBITDA		34,407		12,989		9,899		3,944		61,239		17,452		6,480		(25,180	)		59,991
Restructuring charges, net		816		460		60		—		1,336		1,149		1,134		63			3,682
Separation costs		—		—		—		—		—		—		—		4,500			4,500
Integration costs		—		—		—		—		—		—		—		394			394

Adjusted EBITDA	$	35,223	$	13,449	$	9,959	$	3,944	$	62,575	$	18,601	$	7,614	$	(20,223	)	$	68,567