Business Segments (Tables)

3 Months Ended

Jul. 31, 2016

Financial highlights by business segment are as follows:


	Three Months Ended July 31, 2016
	Executive Search
	North America		EMEA		Asia Pacific		Latin America		Subtotal		Hay Group			Futurestep			Corporate			Consolidated
	(in thousands)
Fee revenue	$	81,802	$	35,370	$	19,626	$	9,563	$	146,361	$	174,582		$	54,678		$	—		$	375,621
Deferred revenue adjustment due to acquisition		—		—		—		—		—		3,535			—			—			3,535

Adjusted fee revenue	$	81,802	$	35,370	$	19,626	$	9,563	$	146,361	$	178,117		$	54,678		$	—		$	379,156

Total revenue	$	85,425	$	36,249	$	20,180	$	9,614	$	151,468	$	181,508		$	59,957		$	—		$	392,933

Net income																					4,068
Other income, net																					(4,259	)
Interest expense, net																					3,061
Equity in earnings of unconsolidated subsidiaries, net																					(79	)
Income tax provision																					1,725

Operating income (loss)	$	16,468	$	6,027	$	2,102	$	2,330	$	26,927	$	(7,743	)	$	7,513		$	(22,181	)	$	4,516
Depreciation and amortization		830		211		225		114		1,380		8,016			623			1,425			11,444
Other income (loss), net		288		24		87		73		472		235			(2	)		3,554			4,259
Equity in earnings of unconsolidated subsidiaries, net		79		—		—		—		79		—			—			—			79

EBITDA		17,665		6,262		2,414		2,517		28,858		508			8,134			(17,202	)		20,298
Restructuring charges, net		1,706		128		622		360		2,816		21,488			—			216			24,520
Integration/acquisition costs		—		—		—		—		—		4,264			—			3,763			8,027
Deferred revenue adjustment due to acquisition		—		—		—		—		—		3,535			—			—			3,535

Adjusted EBITDA	$	19,371	$	6,390	$	3,036	$	2,877	$	31,674	$	29,795		$	8,134		$	(13,223	)	$	56,380


	Three Months Ended July 31, 2015
	Executive Search
	North America		EMEA		Asia Pacific		Latin America		Subtotal		Hay Group			Futurestep		Corporate			Consolidated
	(in thousands)
Fee revenue	$	90,359	$	36,090	$	19,215	$	6,426	$	152,090	$	69,240		$	46,064	$	—		$	267,394
Total revenue	$	94,399	$	37,171	$	19,990	$	6,432	$	157,992	$	71,441		$	49,902	$	—		$	279,335

Net income																			$	23,082
Other loss, net																				74
Interest expense, net																				299
Equity in earnings of unconsolidated subsidiaries, net																				(725	)
Income tax provision																				10,174

Operating income (loss)	$	24,145	$	6,276	$	2,986	$	1,508	$	34,915	$	7,495		$	6,189	$	(15,695	)	$	32,904
Depreciation and amortization		827		365		246		78		1,516		3,748			585		1,574			7,423
Other income (loss), net		32		143		18		239		432		(863	)		—		357			(74	)
Equity in earnings of unconsolidated subsidiaries, net		86		—		—		—		86		—			—		639			725

EBITDA		25,090		6,784		3,250		1,825		36,949		10,380			6,774		(13,125	)		40,978
Integration/acquisition costs		—		—		—		—		—		329			—		345			674

Adjusted EBITDA	$	25,090	$	6,784	$	3,250	$	1,825	$	36,949	$	10,709		$	6,774	$	(12,780	)	$	41,652