Quarterly Reports

The Caldwell Partners International Issues Fiscal 2017 First Quarter Financial Results

January 11, 2017 -
  • First quarter revenue of $13,704,000.
  • Operating profit of $1,099,000.
  • Board declares twentieth consecutive quarterly dividend of 2.0 cents.

Toronto, Ontario– January 11, 2017 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2017 first quarter ended November 30, 2016. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.

Financial Highlights (in $000s except per share amounts)

Three Months Ended Nov 30
2016 2015
Professional fees $13,629 $13,945
License fee revenue $75 65
Revenues $13,704 $14,010
Expenses $2,384 $3,290
Operating profit  1,099 (148)
Investment income from marketable securities 1
Earnings before tax 1,099 (147)
Net earnings after tax 762 (165)
Net earnings per share $0.038 ($0.008)

 

“The Caldwell Partners team delivered a strong performance in the first quarter,” said John Wallace, chief executive officer. “The cost alignment initiatives that we undertook last year are having their positive intended effect, as evidenced by the marked increase in operating profit this quarter.  We remain committed to being an annuity-based firm that, in normal markets, will deliver an operating profit that will allow us to reward our shareholders through a sustainable dividend, to continue to organically grow the company’s revenues, and to maintain a cash position that will underpin the firm. We look forward to continued profitability as the year unfolds.”

Wallace continued: “Moving forward, we are focussing on recruitment in the coming year, as we look to grow the firm by adding breadth and depth to further strengthen our team in certain industries and geographies, further enhancing our capabilities to serve our clients on a global basis.”

The Board of Directors today also declared the payment of a quarterly dividend of 2.0 cents per Common Share payable to holders of Common Shares of record on January 20, 2017 and to be paid on March 15, 2017.

Financial Highlights (all numbers expressed in $000s)

Operating revenue:

  • Professional fees for the first quarter of 2017 decreased 2.3% (a decline of 1.7% excluding a 0.6% variance from exchange rate fluctuations) over the comparable period last year to $13,629 (2016: $13,945).
  • First quarter professional fees in the US were down 4.2% (down 4.5% excluding a 0.3% variance from exchange rate fluctuations) to $9,557 (2016: $9,973). Increases in the Number of Assignments per Partner and the Average Number of Partners were more than offset by a lower Average Fee per Assignment.
  • First quarter professional fees in Canada were up 6.5% to $3,589 (2016: $3,370). A higher Average Number of Partners and higher Number of Assignments per Partner were partially offset by a lower Average Fee per Assignment.
  • First quarter professional fees in Europe were down 19.8% (down 1.9% excluding a 17.9% unfavourable variance from exchange rate fluctuations) to $483 (2016: $602). A higher Average Fee per Assignment was more than offset by a lower Average Number of Partners and a lower Number of Assignments per Partner.
  • License fees from our licensees in Latin America and New Zealand for the use of the Caldwell Partners brand and intellectual property for the 2016 first quarter were $75 (2016: $65).

Operating profit:

  • For the first quarter of 2017, lower revenue ($306) was more than offset by lower cost of sales and expenses. The lower cost of sales was due primarily to lower fixed partner compensation from lower staffing in Europe and changes made to variable incentive compensation rates in compensation plans fiscal 2017 ($647). The lower expenses were predominantly from a reduction in share price-based compensation accruals and lack of holding our global partner conference during the first quarter of fiscal 2017 which had been in the first quarter of fiscal 2016 ($906). These variances resulted in an increase in operating profit of $1,247 to $1,099 (2016: loss of $148) over the comparable period in the prior year. On a segment basis, $510 of profit was from the US ($727 net of intercompany license fees), $655 of profit was from Canada ($439 net of intercompany license fee revenue) and Europe’s operating loss was $66. The increase in absolute operating profit of $1,247 was the result of increased performance in all segments, with the US up by $938, the UK $259 and Canada $50.
  • We will be holding our global partner conference during the second quarter, which will cause additional expenses during that specific period ($339 when held during the first quarter of fiscal 2016).

Net earnings after tax:

  • First quarter net income was $762 ($0.038 per share), as compared to a loss of $165 ($0.008 per share) in the comparable period a year earlier.

Click to read full financial statement.

Average Number of Partners, Professional Fees per Partner, Number of Assignments, Number of Assignments per Partner and Average Fee per Assignment do not have any standardized meaning under IFRS and may not be comparable to measures presented by other companies. These operating measures are used by the Company to analyze its results. Please refer to section “Non‐GAAP Financial Measures and Other Operating Measures” in the Company’s MD&A for a definition of these terms.

For a complete discussion of the quarterly financial results, please see the company’s Management Discussion and Analysis posted on SEDAR at www.sedar.com

About Caldwell Partners

Caldwell Partners is a leading international provider of executive search and has been for more than 45 years. As one of the world’s most trusted advisors in executive search, the firm has a sterling reputation built on successful searches for boards, chief and senior executives, and selected functional experts. With offices and partners across North America, Europe, Latin America and Asia Pacific, the firm takes pride in delivering an unmatched level of service and expertise to its clients.

The Caldwell Partners’ Common shares are listed on The Toronto Stock Exchange (TSX: CWL). Please visit our website at www.caldwellpartners.com for further information.

Forward-Looking Statements
Forward-looking statements in this document are based on current expectations that are subject to the significant risks and uncertainties cited. These forward-looking statements generally can be identified by use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “may,” “will,” “likely,” “estimates,” “potential,” “continue” or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. The Company is subject to many factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statement including, but not limited to, the Company’s ability to attract and retain key personnel; the performance of the Canadian, US domestic and international economies; competition from other companies directly or indirectly engaged in executive search; the possibility of a significant shareholder impacting shareholder votes; foreign currency exchange rate risks; the Company’s ability to invest retained earnings in marketable securities and in short-term money market instruments to generate consistent investment income returns; volatility of the market price and volume of common shares; and legal matters. For more information on the factors that could affect the outcome of forward-looking statements, refer to the “Risk Factors” section of our Annual Information Form and other public filings (copies of which may be obtained at www.sedar.com). These factors should be considered carefully and the reader should not place undue reliance on the forward-looking statements. Although any forward-looking statements are based on what management currently believes to be reasonable assumptions, we cannot assure readers that actual results, performance or achievements will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. Except as required by Canadian securities laws, we do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf; such statements speak only as of the date made. The forward-looking statements included herein are expressly qualified in their entirety by this cautionary language.

For further information, please contact:

Investors & Analysts:
Chris Beck, CPA, Chief Financial Officer
The Caldwell Partners International
cbeck@caldwellpartners.com
+1.617.934.1843

Media:
Caroline Lomot, Director of Marketing
The Caldwell Partners International
clomot@caldwellpartners.com
+1.516.830.3535

The Caldwell Partners International Issues Fiscal 2016 Fourth Quarter and Full Year Financial Results

November 10, 2016 -

 

• Company posts annual operating revenue of $58.7 million, up 8% over prior year.
• Fourth quarter operating revenue up 2% over prior year to $15.8 million.
• Operating Profit of $37 for the quarter and $1,278 for the year includes cost alignment charges totalling $1,009 in the fourth quarter.
• Board declares 2.0 cent quarterly dividend.

Toronto, Ontario– November 10, 2016 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2016 fourth quarter and year ended August 31, 2016. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2016 Third Quarter Financial Results

July 7, 2016 -
  • Third quarter revenue of $13.8 million.
  • Third quarter operating profit of $680,000.
  • Board declares 2.0 cent quarterly dividend.

Toronto– July 7, 2016 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2016 third quarter ended May 31, 2016. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2016 Second Quarter Financial Results

April 12, 2016 -
  • Year-over-year second quarter revenue increase of 27.5%.
  • Second quarter operating profit of $709,000.
  • Board declares 2.0 cent quarterly dividend.

Toronto, Ontario– April 12, 2016 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2016 second quarter ended February 29, 2016. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2016 First Quarter Financial Results

January 7, 2016 -

• Year-over-year first quarter revenue increase of 12.7%.
• First quarter operating loss of $148,000.
• Board declares sixteenth consecutive quarterly dividend of 2.0 cents.

Toronto, Ontario– January 7, 2016 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2016 first quarter ended November 30, 2015. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2015 Fourth Quarter and Full Year Financial Results

November 17, 2015 -
  • Company posts annual revenue of $54.5 million, up 21% over prior year.
  • Fourth quarter revenue up 16% over prior year to $15.4 million.
  • Board declares 15th consecutive quarterly dividend – 2.0 cents per share.

Toronto, Ontario– November 17, 2015 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2015 fourth quarter and year ended August 31, 2015. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2015 Third Quarter Financial Results

July 9, 2015 -
  • Year-over-year third quarter revenue increased 20% to $14,813,000.
  • Year-over-year third quarter operating profit increased 42% to $905,000.
  • Board declares fourteenth consecutive quarterly dividend of 2.0 cents.

Toronto, Ontario– July 9, 2015 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2015 third quarter ended May 31, 2015. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2015 Second Quarter Financial Results

April 9, 2015 -
  • Year-over-year second quarter revenue increase of 30%.
  • Second quarter operating income is $511,000.
  • Board declares 2.0 cent quarterly dividend.

Toronto, Ontario– April 9, 2015 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2015 second quarter ended February 28, 2015. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2015 First Quarter Financial Results

January 8, 2015 -
  • Year-over-year first quarter revenue increase of 20%.
  • First quarter operating income is $307,000.
  • Board declares 2.0 cent quarterly dividend.

Toronto, Ontario– January 8, 2015 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2015 first quarter ended November 30, 2014. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2014 Fourth Quarter and Full Year Financial Results

November 13, 2014 -

• Fourth quarter revenue up 28% over prior year to $13.2 million.
• Company posts annual revenue of $45.1 million, up 33% over prior year.
• Board declares 11th consecutive quarterly dividend – 2.0 cents per share, up 14% over prior quarter.

Toronto, Ontario– November 13, 2014 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2014 fourth quarter and year ended August 31, 2014. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2014 Third Quarter Financial Results

July 10, 2014 -

•    Year-over-year third quarter revenue increased 34% to $12,359,000.
•    Third quarter operating profit of $633,000.
•    Board declares 10th consecutive quarterly dividend – 1.75 cents per share.

Toronto, Ontario – July 10, 2014 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2014 third quarter ended May 31, 2014. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2014 Second Quarter Financial Results

April 10, 2014 -
  • Year-over-year second quarter revenue increased 34% to $9,158.
  • Board declares ninth consecutive quarterly dividend – 1.75 cents per share.

Toronto, Ontario– April 10, 2014 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2014 second quarter ended February 28, 2014. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2014 First Quarter Financial Results

January 8, 2014 -
  • Year-over-year first quarter revenue increase of 39%.
  • First quarter operating income is $408K.
  • Board declares 1.75 cent quarterly dividend.

Toronto, Ontario– January 08, 2014 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2014 first quarter ended November 30, 2013. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2013 Fourth Quarter and Full Year Financial Results

November 8, 2013 -
  • Fourth quarter revenue up 17% over prior year to $10.3 million.
  • Company posts annual revenue of $33.8 million, up 3% over prior year.
  • Board declares 1.75 cent quarterly dividend, up 17% over prior quarter.

Toronto, Ontario– November 8, 2013 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2013 fourth quarter and year ended August 31, 2013. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2013 Third Quarter Financial Results

July 11, 2013 -

• Firm posts third quarter revenues that were 35% higher than second quarter.
• Year-over-year third quarter revenue decline of 1%.
• Board declares 1.5 cent quarterly dividend.

Toronto, Ontario– July 11, 2013 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2013 third quarter ended May 31, 2013. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars. (more…)

The Caldwell Partners International Issues Fiscal 2013 Second Quarter Financial Results

April 11, 2013 -
  • Revenue decline of 5% second quarter 2013 compared to 2012
  • Board declares 1.5 cent quarterly dividend

Toronto, Ontario– April 11, 2012 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2013 second quarter ended February 28, 2013. (more…)

The Caldwell Partners International Issues Fiscal 2013 First Quarter Financial Results

January 14, 2013 -

• Quarterly revenue up 2% over comparable period last year
• Board declares 1.5 cent quarterly dividend

Toronto, Ontario– January 11, 2013 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2013 first quarter ended November 30, 2012. (more…)

The Caldwell Partners International Issues Fiscal 2012 Fourth Quarter and Full Year Financial Results

November 15, 2012 -

• Company posts annual operating profit of $1.0 million
• Board declares quarterly dividend at 1.5 cents per share

Toronto, Ontario – November 15, 2012 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2012 fourth quarter and year ended August 31, 2012. (more…)

The Caldwell Partners International Issues Fiscal 2012 Third Quarter Financial Results

July 12, 2012 -
  • Firm posts third quarter revenues 30% higher than second quarter.
  • Third quarter operating income is $710k.
  • Board declares 1.5 cents per share quarterly dividend

Toronto, Ontario– July 12, 2012 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2012 third quarter ended May 31, 2012. (more…)

The Caldwell Partners International Issues Fiscal 2012 Second Quarter Financial Results

April 12, 2012 -

Toronto, Ontario– April 12, 2012 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2012 second quarter ended February 29, 2012. (more…)

The Caldwell Partners International Issues Fiscal 2012 First Quarter Financial Results

February 1, 2012 -

Toronto, Ontario– February 1, 2012 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2012 first quarter ended November 30, 2011. (more…)

The Caldwell Partners International Issues Fiscal 2011 Fourth Quarter and Full Year Financial Results

November 17, 2011 -

– Company achieves fourth quarter 7% operating margin, with net income of $675,000 –

  • Annual revenues up 27% over last year
  • Growth of US operations continues – percentage of consolidated annual revenues grows to 63%

Toronto, Ontario– November 17, 2011 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2011 fourth quarter and year ended August 31, 2011. (more…)

The Caldwell Partners International Issues Fiscal 2011 Third Quarter Financial Results

July 13, 2011 -

– Company achieves 5% operating margin, with third quarter net income of $528,000 –

  • Year-to-date revenues up 51%, quarterly revenue up 30% over comparable periods last year
  • Growth of US operations continues – percentage of consolidated quarterly revenues grows to 67%

Toronto, Ontario– July 13, 2011 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2011 third quarter ended May 31, 2011. (more…)

The Caldwell Partners International Issues Fiscal 2011 Second Quarter Financial Results

April 13, 2011 -

– Company achieves 68% six-month revenue growth year over year –

  • Small but positive second quarter profit, due largely to revenue growth
  • Quarterly revenue up 67% over comparable period last year
  • Growth of US operations continues – US percentage of consolidated quarterly revenues grows to 62%

Toronto, Ontario– April 13, 2011 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2011 second quarter ended February 28, 2011. (more…)

The Caldwell Partners International Issues Fiscal 2011 First-Quarter Results

January 13, 2011 -

-Company achieves year-over-year quarterly revenue increase of 69%-

  • Quarterly revenue up 69% over comparable period last year
  • Growth of US operations continues – US accounts for more than half of consolidated quarterly revenues
  • Expenses associated with growing the business continue to strain earnings, with the company reporting a quarterly loss of $1.093 million

Toronto, Ontario– January 13, 2011 – Retained executive search firm The Caldwell Partners International Inc. (TSX: CWL) today issued its financial results for the fiscal 2011 first quarter ended November 30, 2010. (more…)