Boston, MA 05/09/2014 (wallstreetpr) – Shares of the executive search firm CTPartners Executive Search Inc (NYSEMKT:CTP) have got wings to fly. The company saw its share surging almost 30 percent in morning trading Friday, thanks to a widely positive 1Q2014 performance.
The company reported earnings Friday that show its revenue and placements up by significant margins on a year-over-year basis. Furthermore, the company issued 2Q guidance that exceeded Wall Street expectations.
Promising business
With companies around the world looking for talents to help them achieve growth and create bigger value for the shareholders, there will likely be a greater demand for executives that will in turn feed the revenue basket of CTPartners Executive Search Inc (NYSEMKT:CTP).
According to analysts and pundits, the energy industry is likely to generate big demand for executive search services. As for CTP, the company boasts various business advantages that can support big growth this year and the years ahead under favorable market conditions. The company is experiencing compelling organic growth and coupling that effort with strategic acquisitions.
Having successfully closed the acquisition of Johnson Executive Search last month, the company is back shopping in Australia where it is circling Perth, an executive search company owned by Park Brown International. Perth is based in Australia and provides executive search for the natural resources, energy and infrastructure companies.
Though it is official that CTPartners Executive Search Inc (NYSEMKT:CTP) has entered a letter of intent for an acquisition deal with Perth, the terms of the transaction remain undisclosed for now.
These acquisitions not only expand the company’s market share, but also add reputable talents to its own ranks thereby supporting a solid reputation that is has built in the industry.
1Q in summary
CTPartners Executive Search Inc (NYSEMKT:CTP)’s 1Q2014 results that offered wings to its shares saw revenue up almost 37 percent to $39.9 million. The New York-based company also reported an increase in placement to 279 in the latest quarter from 231 in the same period a year earlier. Furrthermore, the quarter also saw a 13 percent increase in revenue per search, therefore, hitting $102,200 in 1Q2014 against $90,000 in 1Q2013.
The company expects to realize 2Q net revenue between $42 and $45 million and 24 – 30 cents EPS. That compares with Wall Street estimate of $38 million revenue and 15 cents EPS.
