/C O R R E C T I O N -- Korn/Ferry International/

              /C O R R E C T I O N -- Korn/Ferry International/

PR Newswire

LOS ANGELES, June 17, 2013

In the news release, Korn/Ferry International Announces Fourth Quarter and
Fiscal 2013 Results of Operations, issued today by Korn/Ferry International
over PR Newswire, we are advised by the company that the final sentence of the
Outlook section should read "Excluding these charges, adjusted diluted
earnings per share in the first quarter are likely to be in the range of $0.26
to $0.32 with diluted earnings per share as measured by generally accepted
accounting principles likely to be in the range of $0.19 to $0.27," rather
than "fourth quarter" as originally issued inadvertently. The complete,
corrected release follows:

  Korn/Ferry International Announces Fourth Quarter and Fiscal 2013 Results of
  Operations

    Highlights

    - Korn/Ferry reports record quarterly fee revenue of $227.9 million in the
    fourth quarter of 2013, an increase of 17% compared to Q4 FY'12, on a
    constant currency basis. Excluding current year acquisitions, quarterly
    fee revenues increased 2% on a constant currency basis.

    - Fee revenue in Leadership & Talent Consulting services grew 92% from Q4
    FY'12 to Q4 FY'13 on a constant currency basis. Excluding current year
    acquisitions, fourth quarter revenues were essentially flat
    year-over-year, on a constant currency basis.

    - Fee revenue in Futurestep grew 7 %, from Q4 FY'12 to Q4 FY'13, on a
    constant currency basis.

    - For the full year of FY'13, Korn/Ferry reports record annual fee revenue
    of $812.8 million, an increase of 5% over FY'12, on a constant currency
    basis. Excluding current year acquisitions, annual fee revenues were down
    1% on a constant currency basis.

LOS ANGELES, June 17, 2013 /PRNewswire/ --Korn/Ferry International (NYSE:
KFY), a premier global provider of talent management solutions, announced
record quarterly and annual fee revenues of $227.9 million and $812.8 million
for the fourth quarter and full year of FY'13, respectively. Fourth quarter
adjusted diluted earnings per share were $0.32, excluding restructuring and
transaction and integration costs of $3.5 million. Full year adjusted diluted
earnings per share were $1.10, excluding restructuring, transaction and
integration, and separation costs of $26.5 million. Including such costs,
diluted earnings per share was $0.25 and $0.70 in the three months andyear
ended April 30, 2013, respectively.

"I am pleased with our strategic progress and operating results for the fourth
quarter, which includes accelerating the integration of our recent
acquisitions as well as further diversifying and differentiating our Company.
In the fourth quarter, Korn/Ferry's broader talent management offerings
accounted for 40% of fee revenue which reflects the Company's transformation
as a talent management consultancy," said Gary D. Burnison, CEO of Korn/Ferry
International. "As global companies fight for growth and relevancy in this
decade, talent will be the differentiator - Korn/Ferry is the bridge between a
client's business and talent strategy - delivering solutions that help our
clients with the design, building and attraction of that talent."



Financial Results

(dollars in millions, except per share amounts)


                        Fourth Quarter               Year to Date
                        FY'13         FY'12          FY'13        FY'12
Fee revenue             $         $           $         $    
                        227.9         198.1         812.8        790.5
Totalrevenue           $         $           $         $    
                        238.6         207.6         849.7        826.8
Operating income        $        $          $        $     
                        15.4          15.4          43.9         82.9
Operating margin        6.8%          7.8%           5.4%         10.5%
Net income              $        $          $        $     
                        12.2          12.0          33.3         54.3
Basic earnings per      $        $          $        $     
share                   0.26          0.26          0.71         1.17
Diluted earnings per    $        $          $        $     
share                   0.25          0.25          0.70         1.15

EBITDA Results (a):  Fourth Quarter                Year to Date
                     FY'13          FY'12          FY'13         FY'12
EBITDA               $         $          $         $     
                     24.3          22.4          71.3          98.5
EBITDA margin        10.7%          11.3%          8.8%          12.5%
Adjusted Results     Fourth Quarter                Year to Date
(b):
                     FY'13          FY'12          FY'13         FY'12
Operating income     $         $          $         $     
                     18.9          17.3          70.4          85.7
Operating margin     8.3%           8.7%           8.7%          10.8%
EBITDA (a)           $         $          $         $    
                     27.8          24.3          97.8          101.3
EBITDA margin (a)    12.2%          12.2%          12.0%         12.8%
Net income           $         $          $         $     
                     15.6          13.3          52.8          56.2
Basic earnings per   $         $          $         $     
share                0.33          0.28          1.12          1.21
Diluted earnings per $         $          $         $     
share                0.32          0.28          1.10          1.19

____________

    EBITDA refers to earnings before interest, taxes, depreciation and
    amortization. Adjusted EBITDA further adjusts EBITDA to exclude
(a) restructuring charges, transaction and integration costs and separation
    costs. EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA margin
    are non-GAAP financial measures (see attached reconciliation).
(b) Adjusted results are non-GAAP financial measures that exclude the
    following (see attached reconciliations):

                            Fourth Quarter            Year to Date
                            FY'13        FY'12        FY'13       FY'12
Restructuring charges, net  $        $       $   22.8  $    0.9
of recoveries               2.9          -
Transaction and integration $        $       $        $     
costs                       0.6          -            3.1         -
Separation costs            $       $    1.9  $        $    1.9
                             -                       0.6

Fiscal 2013 Fourth Quarter Results 

Fee revenue was $227.9 million in Q4 FY'13, an increase of $29.8 million, or
15%, compared to the year-ago quarter (foreign exchange rates negatively
impacted fee revenue by $2.9 million), primarily driven by a $28.5 million and
a $1.7 million increase in fee revenue in Leadership & Talent Consulting and
Futurestep. Excluding the PDI Ninth House and Global Novations acquisitions
(the "current year acquisitions"), fee revenue was $199.1 million in Q4 FY'13,
an increase of 1% compared to the year-ago quarter (2% on a constant currency
basis) driven by all market sectors with the largest increases in life
science/healthcare, technology and the industrial sector.

Compensation and benefit expenses were $154.4 million in Q4 FY'13, an increase
of $14.8 million, or 11%, compared to the year-ago quarter. The current year
acquisitions contributed $18.6 million to the increase in compensation and
benefit expenses, offset by a reduction of $3.8 million primarily in salaries
and related payroll taxes due to lower average headcount in Executive
Recruitment.

General and administrative expenses were $40.1 million in Q4 FY'13, an
increase of $5.4 million, or 16%, from the year-ago quarter, resulting
primarily from the current year acquisitions.

As previously disclosed, during Q4 FY'13, the Company took steps to integrate
PDI Ninth House by consolidating and eliminating redundant office space around
the world. As a result, the Company recorded net restructuring charges of $2.9
million in Q4 FY'13 and incurred transaction and integration costs of $0.6
million in Q4 FY'13. Excluding these costs, adjusted EBITDA was $27.8 million
during Q4 FY'13, an increase of $3.5 million, or 14%, compared to Q4 FY'12.
Adjusted EBITDA margin was 12.2% in both periods.

On a GAAP basis, operating income was $15.4 million in both Q4 FY'13 and Q4
FY'12 resulting in a margin of 6.8% in the current quarter compared to 7.8% in
the year-ago quarter.

Fiscal 2013 Results 

Fee revenue was $812.8 million in FY'13, an increase of $22.3 million, or 3%,
compared to FY'12 (foreign exchange rates negatively impacted fee revenue by
$15.1 million). Excluding current year acquisitions, fee revenue was $767.2
million in FY'13, a decrease of 3% (1% on a constant currency basis) compared
to FY'12.

As previously disclosed, during FY'13, the Company took steps to rationalize
its cost structure and to integrate the current year acquisitions. As a
result, the Company recorded restructuring charges of $22.8 million to reduce
its workforce and consolidate premises and incurred acquisition-related
transaction and integration costs of $3.1 million in FY'13.

Adjusted EBITDA was $97.8 million during FY'13, a decrease of $3.5 million, or
3%, compared to FY'12. Adjusted EBITDA margin was 12.0%, down 80 basis points
from the prior year. This decrease was primarily associated with the change
in business mix and costs associated with incremental infrastructure and
support services relating to the newly acquired businesses.

On a GAAP basis, operating income was $43.9 million in FY'13, a decrease of
$39.0 million, or 47%, compared to FY'12 resulting in an operating margin of
5.4% in the current year compared to 10.5% in the prior year.

Balance Sheet and Liquidity

Cash and marketable securities were $366.0 million at April 30, 2013, compared
to $417.7 million at April 30, 2012. Cash and marketable securities include
$98.0 million held in trust for deferred compensation plans at April 30, 2013,
compared to $82.2 million at April 30, 2012. Cash and marketable securities
decreased by $51.7 million from April 30, 2012, mainly due to the payment of
FY'12 annual bonuses in Q1 FY'13 and the payment for the current year
acquisitions, partially offset by cash provided by operating activities.

Results by Segment

In Q1 FY'13, the Company began reporting its Leadership & Talent Consulting
business as a separate segment. The Company reports its results in three
global business segments: Executive Recruitment, Leadership & Talent
Consulting and Futurestep. This change has no impact on previously reported
consolidated net income or earnings per share.





Selected Executive Recruitment Data

(dollars in millions)


                        Fourth Quarter              Year to Date
                        FY'13          FY'12        FY'13        FY'12
Fee revenue             $          $         $         $    
                        136.8          137.2        522.5        561.2
Total revenue           $          $         $         $    
                        142.8          143.4        544.8        586.5
Operating income        $         $        $        $    
                        26.5           22.4         81.0         109.9
Operating margin        19.4%          16.3%        15.5%        19.6%
Ending number of        399            400          399          400
consultants
Average number of       395            399          400          420
consultants
Engagements billed      2,718          2,692        7,554        7,879
New engagements (a)     1,231          1,175        4,750        4,963



EBITDA Results (b):  Fourth Quarter                Year to Date
                     FY'13          FY'12          FY'13         FY'12
EBITDA               $    29.4  $   24.9    $    91.2  $   118.1
EBITDA margin        21.5%          18.2%          17.5%         21.0%
Adjusted Results     Fourth Quarter                Year to Date
(c):
                     FY'13          FY'12          FY'13         FY'12
Operating income     $          $    22.4  $   89.7   $   110.7
                     23.9
Operating margin     17.5%          16.3%          17.2%         19.7%
EBITDA (a)           $          $    24.9  $   99.9   $   118.9
                     26.8
EBITDA margin (a)    19.6%          18.2%          19.1%         21.2%

____________

(a) Represents new engagements opened in the respective period.
(b)  EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA margin are
       non-GAAP financial measures (see attached reconciliations).
(c)  Adjusted results are non-GAAP financial measures that exclude the
       following (see attached reconciliations):

                            Fourth Quarter             Year to Date
                            FY'13          FY'12       FY'13      FY'12
Restructuring charges, net  $           $    -  $   8.1  $    0.8
of recoveries               (2.6)
Separation costs            $        $    -  $   0.6  $     
                            -                                     -

Executive Recruitment

Fee revenue was $136.8 million in Q4 FY'13, essentially flat with the year-ago
quarter (foreign exchange rates negatively impacted fee revenue by $1.9
million). Fee revenue increases in North America were offset by decreases in
Europe, Asia and Latin America. Fee revenues were impacted by a 1% decrease
in the weighted-average fee billed per engagement, offset by a 1% increase in
the number of executive recruitment engagements billed compared to the
year-ago quarter.

On a GAAP basis, operating income was $26.5 million in Q4 FY'13, an increase
of $4.1 million, or 18%, compared to Q4 FY'12 resulting in an operating margin
of 19.4% in the current quarter compared to 16.3% in the year-ago quarter.

Adjusted EBITDA was $26.8 million during Q4 FY'13, an increase of $1.9
million, or 8%, compared to Q4 FY'12. This increase is primarily
attributable to a decrease in the average headcount and associated
compensation and benefits costs during the quarter compared to the year-ago
quarter. For the full year, adjusted EBITDA declined by $19.0 million due to
a 5% decrease in fee revenue on a constant currency basis offset by reduced
compensation and benefits and general and administrative expenses.



Selected Leadership & Talent Consulting Data

(dollars in millions)


                       Fourth Quarter               Year to Date
                       FY'13           FY'12        FY'13        FY'12
Fee revenue            $   60.1     $  31.6    $  168.1   $   115.4
Total revenue          $   63.1     $  33.2    $  176.6   $   120.3
Operating (loss)       $    (1.3)   $   5.0   $         $   
income                                              6.4         16.4
Operating margin       (2.1)%          15.7%        3.8%         14.2%
Ending number of       133             51           133          51
consultants (a)
Staff utilization (b)  67%             67%          64%          62%

                       Fourth Quarter               Year to Date
EBITDA Results (c):
                       FY'13           FY'12        FY'13        FY'12
EBITDA                 $     1.2   $   5.6   $         $   
                                                    12.4         19.1
EBITDA margin          2.0%            17.9%        7.4%         16.6%

                       Fourth Quarter               Year to Date
Adjusted Results (d):
                       FY'13           FY'12        FY'13        FY'12
Operating income       $     3.8   $         $   16.6  $   
                                       5.0                      16.4
Operating margin       6.3%            15.7%        9.9%         14.2%
EBITDA (c)             $     6.3   $         $   22.6  $   
                                       5.6                      19.1
EBITDA margin (c)      10.4%           17.9%        13.4%        16.6%

____________

(a) Represents number of employees originating consulting services. FY'13
    includes approximately 81 consultants from the current year acquisitions.
    Calculated by dividing the number of hours of our full-time LTC
    professional staff, who recorded time to an engagement during the period,
(b) by the total available working hours during the same period. Excluding
    the current year acquisitions, staff utilization was 64% and 63% for the
    three months and year ended April 30, 2013, respectively.
(c) EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA margin are
    non-GAAP financial measures (see attached reconciliations).
(d) Adjusted results are non-GAAP financial measures that exclude the
    following (see attached reconciliations):



                            Fourth Quarter            Year to Date
                            FY'13        FY'12        FY'13       FY'12
Restructuring charges, net  $       $     —  $   10.2  $     
of recoveries               5.1                                   —

Leadership & Talent Consulting

Fee revenue was $60.1 million in Q4 FY'13, an increase of $28.5 million, or
90%, from the year-ago quarter. Excluding the current year acquisitions, fee
revenue in Q4 FY'13 was essentially flat compared to Q4 FY'12. 

On a GAAP basis, operating loss was $1.3 million, a decrease of $6.3 million
compared to the year-ago quarter resulting in an operating margin of (2.1%) in
the current quarter compared to 15.7% in the year-ago quarter.

Adjusted EBITDA was $6.3 million during Q4 FY'13, an increase of $0.7 million,
or 13%, compared to Q4 FY'12, primarily due to the current year acquisitions.
Adjusted EBITDA margin was 10.4% compared to 17.9% in Q4 FY'12 and was
negatively impacted, in part, by the incremental infrastructure and support
services costs related to the current year acquisitions. For the full year,
adjusted EBITDA increased from $19.1 million in FY'12 to $22.6 million in
FY'13 due to the current year acquisitions, offset by the incremental
infrastructure costs described above.





Selected Futurestep Data

(dollars in millions)


                      Fourth Quarter                Year to Date
                      FY'13          FY'12          FY'13        FY'12
Fee revenue           $    31.0   $   29.3     $  122.2   $  113.9
Total revenue         $    32.7   $   31.0     $  128.3   $  120.0
Operating income      $          $    1.4    $   11.0  $    8.5
                      3.9
Operating margin      12.4%          4.6%           9.0%         7.4%
Engagements billed    1,703          1,611          5,605        4,916
New engagements (a)   863            998            4,434        3,924

                      Fourth Quarter                Year to Date
EBITDA Results (b):
                      FY'13          FY'12          FY'13        FY'12
EBITDA                $          $    1.7   $   12.2  $    
                      4.1                                        9.6
EBITDA margin         13.3%          5.6%           10.0%        8.4%

                      Fourth Quarter                Year to Date
Adjusted Results (c):
                      FY'13          FY'12          FY'13        FY'12
Operating income      $          $          $   14.5  $    
                      4.3           2.3                        9.5
Operating margin      13.8%          7.7%           11.9%        8.4%
EBITDA (b)            $          $          $   15.7  $   
                      4.5           2.6                        10.6
EBITDA margin (b)     14.7%          8.7%           12.9%        9.3%

____________

(a) Represents new engagements opened in the respective period.
(b)   EBITDA, EBITDA margin, adjusted EBITDA and adjusted EBITDA margin are
      non-GAAP financial measures (see attached reconciliations).
(c)   Adjusted results are non-GAAP financial measures that exclude the
      following (see attached reconciliations):



                               Fourth Quarter              Year to Date
                               FY'13         FY'12         FY'13      FY'12
Restructuring charges, net of  $    0.4  $     -  $   3.5  $   
recoveries                                                            0.1
Separation costs               $        $   0.9    $      $   
                               -                          -          0.9

Futurestep

Fee revenue was $31.0 million in Q4 FY'13, an increase of $1.7 million, or 6%,
compared to the year-ago quarter (foreign exchange rates negatively impacted
fee revenue by $0.4 million). The increase in fee revenue was due to an
increase in recruitment process outsourcing and recruitment.

On a GAAP basis, operating income was $3.9 million in Q4 FY'13, an increase of
$2.5 million, compared to Q4 FY'12 resulting in an operating margin of 12.4%
in the current quarter compared to 4.6% in the year-ago quarter.

Adjusted EBITDA was $4.5 million during Q4 FY'13, an increase of $1.9 million,
or 73%, compared to Q4 FY'12, due primarily to the increase in fee revenue and
a decrease in performance related bonus expenses. For the full year, adjusted
EBITDA increased $5.1 million due to the $8.3 million increase in fee revenue.

Outlook

Assuming worldwide economic conditions, financial markets and foreign exchange
rates remain steady, fee revenue is expected to be in the range of $215
million to $227 million in Q1 FY'14. Also during FY'14, we are continuing
with our efforts to integrate the newly acquired businesses and to reduce the
incremental infrastructure and support services costs in an effective and
thoughtful manner, which will be enabled through investments to align and
enhance our technology platform. In line with this, in Q1 FY'14, we expect to
incur charges associated with these cost reduction efforts in the range of
$3.8 million to $5.0 million which will yield $4.7 millionto $5.5 million in
annual savings starting late in the fiscal first quarter. Excluding these
charges, adjusted diluted earnings per share in the first quarter are likely
to be in the range of $0.26 to $0.32 with diluted earnings per share as
measured by generally accepted accounting principles likely to be in the range
of $0.19 to $0.27.

Earnings Conference Call Webcast

The earnings conference call will be held today at 5:00 PM (EDT) and hosted by
CEO Gary Burnison, CFO Robert Rozek and SVP Finance Gregg Kvochak. The
conference call will be webcast and available online at www.kornferry.com,
accessible through the Investor Relations section.

Korn/Ferry International (NYSE: KFY), with a presence throughout the Americas,
Asia Pacific, Europe, the Middle East and Africa, is a premier global provider
of talent management solutions. Based in Los Angeles, the firm delivers an
array of solutions that help clients to attract, deploy, develop and reward
their talent. Visit www.kornferry.com for more information on the Korn/Ferry
International family of companies, and www.kornferryinstitute.com for thought
leadership, intellectual property and research.

Forward-Looking Statements

Statements in this press release and our conference call that relate to future
results and events ("forward-looking statements") are based on Korn/Ferry's
current expectations. These statements, which include words such as
"believes", "expects" or "likely" include references to our outlook. Readers
are cautioned not to place undue reliance on such statements. Actual results
in future periods may differ materially from those currently expected or
desired because of a number of risks and uncertainties that are beyond the
control of Korn/Ferry. The potential risks and uncertainties include those
relating to competition, the dependence on attracting and retaining qualified
and experienced consultants, our ability to successfully integrate acquired
businesses, including current year acquisitions, maintaining our brand name
and professional reputation, potential legal liability, the portability of
client relationships, global and local political or economic developments in
or affecting countries where we have operations, currency fluctuations in our
international operations, risks related to the growth, alignment of our cost
structure with our growth, restrictions imposed by off-limits agreements,
reliance on information processing systems, cyber security vulnerabilities,
limited protection of our intellectual property, our ability to enhance and
develop new technology, our ability to develop new products and services,
consolidation of industries we serve, our ability to successfully recover from
a disaster or other business continuity problems, changes in our accounting
estimates/assumptions, impairment of goodwill and other intangible assets,
deferred tax assets and employment liability risk. For a detailed description
of risks and uncertainties that could cause differences, please refer to
Korn/Ferry's periodic filings with the Securities and Exchange Commission.
Korn/Ferry disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Use of Non-GAAP Financial Measures

This press release contains financial information calculated other than in
accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). In
particular, it includes:

  oadjusted operating income and operating margin, adjusted to exclude
    restructuring, transaction and integration and separation costs;
  oadjusted net income, adjusted to exclude restructuring, transaction and
    integration and separation costs, net of income tax effect;
  oadjusted basic and diluted earnings per share, adjusted to exclude
    restructuring, transaction and integration and separation costs, net of
    income tax effect;
  oconstant currency amounts that represent the outcome that would have
    resulted had exchange rates in the reported period been the same as those
    in effect in the comparable prior year period;
  oEBITDA, or earnings before interest, taxes, depreciation and amortization
    and EBITDA margin; and
  oadjusted EBITDA, which is EBITDA further adjusted to exclude
    restructuring, transaction and integration and separation costs, and
    adjusted EBITDA margin.

This non-GAAP disclosure has limitations as an analytical tool, should not be
viewed as a substitute for financial information determined in accordance with
GAAP, and should not be considered in isolation or as a substitute for
analysis of the Company's results as reported under GAAP, nor is it
necessarily comparable to non-GAAP performance measures that may be presented
by other companies.

Management believes the presentation of non-GAAP financial measures in this
press release provides meaningful supplemental information regarding
Korn/Ferry's performance by excluding certain charges and other items that may
not be indicative of Korn/Ferry's ongoing operating results. The use of these
non-GAAP financial measures facilitate comparisons to Korn/Ferry's historical
performance. Korn/Ferry includes these non-GAAP financial measures because
management believes they are useful to investors in allowing for greater
transparency with respect to supplemental information used by management in
its evaluation of Korn/Ferry's ongoing operations and financial and
operational decision-making. In the case of constant currency amounts,
management believes the presentation of such information provides meaningful
supplemental information regarding Korn/Ferry's performance as excluding the
impact of exchange rate changes on Korn/Ferry's financial performance allows
investors to make more meaningful period-to-period comparisons of the
Company's operating results, to better identify operating trends that may
otherwise be masked or distorted by exchange rate changes and to perform
related trend analysis, and provides a higher degree of transparency of
information used by management in its evaluation of Korn/Ferry's ongoing
operations and financial and operational decision-making.

[Tables attached]

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
                                Three Months Ended    Year Ended
                                April 30,             April 30,
                                2013        2012        2013        2012
                                (unaudited)
Fee revenue                   $ 227,902   $ 198,087   $ 812,831   $ 790,505
Reimbursed out-of-pocket       10,705      9,471       36,870      36,254
engagement expenses
 Total revenue       238,607     207,558     849,701     826,759
Compensation and benefits     154,487     139,593     555,346     534,186
General and administrative     40,096      34,668      142,771     138,872
expenses
Engagement expenses           19,834      14,295      65,847      55,889
Depreciation and               5,877       3,650       19,004      14,017
amortization
Restructuring charges, net    2,921       -           22,857      929
 Total operating      223,215     192,206     805,825     743,893
expenses
Operating income             15,392      15,352      43,876      82,866
Other income (loss), net      2,501       2,761       6,309       (271)
Interest expense, net         (644)       (511)       (2,365)     (1,791)
 Income before
provision for income taxes
 and equity in
earnings of unconsolidated      17,249      17,602      47,820      80,804
subsidiaries
Income tax provision         5,595       6,152       16,637      28,351
Equity in earnings of
unconsolidated subsidiaries,    543         578         2,110       1,850
net
 Net income         $  12,197  $  12,028  $  33,293  $  54,303
Earnings per common share:
 Basic                    $        $        $        $   
                                0.26        0.26        0.71        1.17
 Diluted                  $        $        $        $   
                                0.25        0.25        0.70        1.15
Weighted-average common
shares outstanding:
 Basic                    47,452      46,591      47,224      46,397
 Diluted                  48,345      47,524      47,883      47,261



KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
FINANCIAL SUMMARY BY SEGMENT
(in thousands)
(unaudited)
                Three Months Ended April 30,        Year Ended April 30,
                2013              2012      %       2013              2012      %
                                            Change                              Change
Fee Revenue:
Executive
recruitment:
 North America  $                $        2%      $                 $         (5%)
                77,511            76,268            290,317           305,717
 EMEA          32,242            32,728    (1%)    128,807           141,409   (9%)
 Asia Pacific   19,199            19,524    (2%)    73,221            82,230    (11%)
 South America  7,839             8,642     (9%)    30,134            31,846    (5%)
Total executive 136,791           137,162   (0%)    522,479           561,202   (7%)
recruitment
Leadership &
Talent          60,116            31,650    90%     168,115           115,407   46%
Consulting
Futurestep      30,995            29,275    6%      122,237           113,896   7%
 Total fee      227,902           198,087   15%     812,831           790,505   3%
 revenue
Reimbursed
out-of-pocket   10,705            9,471     13%     36,870            36,254    2%
engagement
expenses
 Total revenue  $                 $         15%     $                 $         3%
                238,607           207,558           849,701           826,759
Reconciliation
of Operating
Income (GAAP)
to Adjusted
Operating
Income
Operating                 Margin            Margin            Margin            Margin
Income:
Executive
recruitment:
 North America  $        22.1%   $        22.5%   $        20.3%   $        24.7%
                17,104            17,148            58,832            75,580
 EMEA           4,137     12.8%   (266)     (0.8%)  9,173     7.1%    13,288    9.4%
 Asia Pacific   3,482     18.1%   3,001     15.4%   6,973     9.5%    11,859    14.4%
 South America  1,761     22.5%   2,536     29.3%   5,987     19.9%   9,207     28.9%
Total executive 26,484    19.4%   22,419    16.3%   80,965    15.5%   109,934   19.6%
recruitment
Leadership &
Talent          (1,292)   (2.1%)  4,971     15.7%   6,424     3.8%    16,360    14.2%
Consulting
Futurestep      3,834     12.4%   1,333     4.6%    10,975    9.0%    8,445     7.4%
Corporate       (13,634)          (13,371)          (54,488)          (51,873)
 Total         $                $                $                $ 
 operating      15,392    6.8%    15,352    7.8%    43,876    5.4%    82,866    10.5%
 income
Restructuring,
Transaction and
Integration,
and Separation
Costs, net:
Executive
recruitment:
 North America  $        (2.4%)  $      -       $       1.2%    $      (0.0%)
                (1,853)            -              3,583             (15)
 EMEA           (770)     (2.4%)  -         -       4,498     3.5%    897       0.6%
 Asia Pacific   16        0.1%    -         -       629       0.9%    -         -
 South America  -         -       -         -       -         -       (99)      (0.3%)
Total executive (2,607)   (1.9%)  -         -       8,710     1.7%    783       0.1%
recruitment
Leadership &
Talent          5,080     8.4%    -         -       10,198    6.1%    -         -
Consulting
Futurestep      441       1.4%    920       3.1%    3,527     2.9%    1,066     1.0%
Corporate       598               999               4,044             999
 Total
 restructuring,
 transaction    $               $               $                $  
 and            3,512     1.5%    1,919     0.9%    26,479    3.3%    2,848     0.3%
 integration,
 and separation
 charges, net
Adjusted
Operating
Income:
 (Excluding
Restructuring,
Transaction and           Margin            Margin            Margin            Margin
Integration, and
Separation Costs, net)
Executive
recruitment:
 North America  $        19.7%   $        22.5%   $        21.5%   $        24.7%
                15,251            17,148            62,415            75,565
 EMEA           3,367     10.4%   (266)     (0.8%)  13,671    10.6%   14,185    10.0%
 Asia Pacific   3,498     18.2%   3,001     15.4%   7,602     10.4%   11,859    14.4%
 South America  1,761     22.5%   2,536     29.3%   5,987     19.9%   9,108     28.6%
Total executive 23,877    17.5%   22,419    16.3%   89,675    17.2%   110,717   19.7%
recruitment (1)
Leadership &
Talent          3,788     6.3%    4,971     15.7%   16,622    9.9%    16,360    14.2%
Consulting
Futurestep (1)  4,275     13.8%   2,253     7.7%    14,502    11.9%   9,511     8.4%
Corporate      (13,036)          (12,372)          (50,444)          (50,874)
 Total
 adjusted       $        8.3%    $        8.7%    $        8.7%    $        10.8%
 operating      18,904            17,271            70,355            85,714
 income



    The Company revised the presentation for expenses that are not directly
    associated with Futurestep, resultingin an increase in Futurestep's
(1) operating income of $0.6 million and $2.2 million offset by a decrease in
    Executive Recruitmentoperating income in the three months and year ended
    April 30, 2012, respectively.



KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
                                                  April 30,
                                                  2013           2012
ASSETS
Cash and cash equivalents                         $  224,066   $  282,005
Marketable securities                             20,347         40,936
Receivables due from clients, net of allowance
for doubtful accounts
of $9,097 and $9,437 respectively                 161,508        126,579
Income taxes and other receivables                8,944          11,902
Deferred income taxes                             3,511          10,830
Prepaid expenses and other assets                 28,724         27,815
Total current assets                              447,100        500,067
Marketable securities, non-current                121,569        94,798
Property and equipment, net                       53,628         49,808
Cash surrender value of company owned life        85,873         77,848
insurance policies, net of loans
Deferred income taxes                             63,203         57,290
Goodwill                                          257,293        176,338
Intangible assets, net                            58,187         20,413
Investments and other assets                      28,376         38,127
Total assets                                      $ 1,115,229    $ 1,014,689
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable                                  $   19,460  $   14,667
Income taxes payable                              5,502          8,720
Compensation and benefits payable                 160,298        160,810
Other accrued liabilities                         83,291         37,527
Total current liabilities                         268,551        221,724
Deferred compensation and other retirement plans  159,706        142,577
Other liabilities                                 22,504         20,912
Total liabilities                                 450,761        385,213
Stockholders' equity
Common stock: $0.01 par value, 150,000 shares
authorized, 61,022 and
59,975 shares issued and 48,734 and 47,913        431,508        419,998
shares outstanding, respectively
Retained earnings                                 236,090        202,797
Accumulated other comprehensive (loss) income,    (2,631)        7,191
net
Stockholders' equity                              664,967        629,986
Less: notes receivable from stockholders         (499)          (510)
Total stockholders' equity                        664,468        629,476
Total liabilities and stockholders' equity        $ 1,115,229    $ 1,014,689



KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
RECONCILIATION OF AS REPORTED (GAAP) TO AS ADJUSTED (NON-GAAP)
(in thousands, except per share amounts)
(unaudited)
                   Three Months Ended             Three Months Ended
                   April 30, 2013                   April 30, 2012
                   As        Adjustments  As        As        Adjustments  As
                   Reported               Adjusted  Reported               Adjusted
Fee revenue      $                      $         $                      $
                   227,902                227,902   198,087                198,087
Reimbursed
out-of-pocket      10,705                 10,705    9,471                  9,471
engagement
expenses
 Total   238,607                238,607   207,558                207,558
revenue
Compensation and  154,487                154,487   139,593   (1,919)      137,674
benefits
General and
administrative     40,096    (591)        39,505    34,668                 34,668
expenses
Engagement        19,834                 19,834    14,295                 14,295
expenses
Depreciation and  5,877                  5,877     3,650                  3,650
amortization
Restructuring     2,921     (2,921)      -         -         -            -
charges, net
 Total
operating          223,215   (3,512)      219,703   192,206   (1,919)      190,287
expenses
Operating         15,392    3,512        18,904    15,352    1,919        17,271
income
Other income,     2,501                  2,501     2,761                  2,761
net
Interest          (644)                  (644)     (511)                  (511)
expense, net
 Income
before provision
for income taxes

and equity in
earnings of        17,249    3,512        20,761    17,602    1,919        19,521
unconsolidated
subsidiaries
Income tax
provision (1)      5,595     119          5,714     6,152     671          6,823
(2)
Equity in
earnings of
unconsolidated     543                    543       578                    578
subsidiaries,
net
 Net    $        $       $        $        $       $ 
income            12,197    3,393        15,590    12,028    1,248        13,276
Earnings per
common share:
 Basic       $                   $      $                   $   
                   0.26                   0.33      0.26                   0.28
 Diluted     $                   $      $                   $   
                   0.25                   0.32      0.25                   0.28
Weighted-average
common shares
outstanding:
 Basic       47,452                 47,452    46,591                 46,591
 Diluted     48,345                 48,345    47,524                 47,524



Explanation of Non-GAAP Adjustments

    The adjustments result in an effective tax rate of 28% and 35% for the as
(1) adjusted amounts for the three months ended April 30, 2013 and 2012,
    respectively.
    The three months ended April 30, 2013 includes the tax effect on
    restructuring charges and transaction & integration costs associated with
(2) the acquisition ofPDI Ninth House, while the three months ended April 30,
    2012 includes the tax effect on the separation costs related to changes in
    certain leadershippositions.

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
RECONCILIATION OF AS REPORTED (GAAP) TO AS ADJUSTED (NON-GAAP)
(in thousands, except per share amounts)
(unaudited)
                   Year Ended                     Year Ended
                   April 30, 2013                   April 30, 2012
                   As        Adjustments  As        As        Adjustments  As
                   Reported               Adjusted  Reported               Adjusted
Fee revenue      $                   $      $                   $   
                   812,831               812,831  790,505               790,505
Reimbursed
out-of-pocket      36,870                 36,870    36,254                 36,254
engagement
expenses
 Total   849,701                849,701   826,759                826,759
revenue
Compensation and  555,346   (516)        554,830   534,186   (1,919)      532,267
benefits
General and
administrative     142,771   (3,106)      139,665   138,872                138,872
expenses
Engagement        65,847                 65,847    55,889                 55,889
expenses
Depreciation and  19,004                 19,004    14,017                 14,017
amortization
Restructuring     22,857    (22,857)     -         929       (929)        -
charges, net
 Total
operating          805,825   (26,479)     779,346   743,893   (2,848)      741,045
expenses
Operating         43,876    26,479       70,355    82,866    2,848        85,714
income
Other income      6,309                  6,309     (271)                  (271)
(loss), net
Interest          (2,365)                (2,365)   (1,791)                (1,791)
expense, net
Income
before provision
for income
taxesand equity   47,820    26,479       74,299    80,804    2,848        83,652
in earnings of
unconsolidated
subsidiaries
Income tax
provision (1)      16,637    6,953        23,590    28,351    999          29,350
(2)
Equity in
earnings of
unconsolidated     2,110                  2,110     1,850                  1,850
subsidiaries,
net
 Net    $      $        $      $      $       $   
income                    19,526                        1,849       
                   33,293                52,819   54,303                56,152
Earnings per
common share:
                   $                   $      $                   $   
 Basic                                                        
                   0.71                  1.12     1.17                  1.21
                   $                   $      $                   $   
 Diluted                                                      
                   0.70                  1.10     1.15                  1.19
Weighted-average
common shares
outstanding:
 Basic       47,224                 47,224    46,397                 46,397
 Diluted     47,883                 47,883    47,261                 47,261
Explanation of Non-GAAP
Adjustments
(1) The adjustments result in an annual effective tax rate of 32% and 35% for the
as adjusted amounts for the year ended April 30, 2013 and 2012, respectively.
(2) The year ended April 30, 2013 includes the tax effect on
restructuring charges, transaction and integration costs associated with
the acquisition ofPDI Ninth House, and separation costs, while the year
ended April 30, 2012 includes the tax effect on the separation costs
related to changes incertain leadership positions andrestructuring
charges.

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF NET INCOME AND OPERATING INCOME (GAAP) TO
EBITDA AND ADJUSTED EBITDA (NON-GAAP)
(in thousands)
(unaudited)
                Three Months Ended April 30, 2013
                Executive    Leadership
                Recruitment  & Talent     Futurestep  Corporate  Consolidated
                              Consulting
Fee revenue   $           $         $          $       $    
                136,791      60,116       30,995          -       227,902
Net income                                                          $     
                                                                      12,197
 Other                                                          2,501
income, net

Interest                                                              (644)
expense, net
 Income                                                         5,595
tax provision
 Equity
in earnings of
unconsolidated                                                        543
subsidiaries,
net
Operating      $          $         $         $           15,392
income (loss)  26,484       (1,292)      3,834         (13,634)

Depreciation    2,243         2,625        240           769          5,877
and
amortization
 Other
income (loss),  518           (146)        36            2,093        2,501
net
 Equity
in earnings of
unconsolidated  129           -            -             414          543
subsidiaries,
net
EBITDA        29,374        1,187        4,110         (10,358)     24,313
EBITDA         21.5%         2.0%         13.3%                      10.7%
margin

Restructuring   (2,607)       5,080        441           7            2,921
(recoveries)
charges, net

Transaction
and             -             -            -             591          591
integration
costs
Adjusted       $          $        $         $          $     
EBITDA         26,767       6,267        4,551         (9,760)     27,825
Adjusted       19.6%         10.4%        14.7%                      12.2%
EBITDA margin
                Three Months Ended April 30, 2012
                Executive    Leadership
                Recruitment  & Talent     Futurestep  Corporate  Consolidated
                              Consulting
Fee revenue   $           $         $          $       $    
                137,162      31,650       29,275          -       198,087
Net income                                                          $     
                                                                      12,028
 Other                                                          2,761
income, net

Interest                                                              (511)
expense, net
 Income                                                         6,152
tax provision
 Equity
in earnings of
unconsolidated                                                        578
subsidiaries,
net
Operating      $          $        $         $           15,352
income (loss)  22,419       4,971        1,333         (13,371)

Depreciation    2,103         671          285           591          3,650
and
amortization
 Other    218           18           9             2,516        2,761
income, net
 Equity
in earnings of
unconsolidated  159           -            -             419          578
subsidiaries,
net
EBITDA        24,899        5,660        1,627         (9,845)      22,341
EBITDA         18.2%         17.9%        5.6%                       11.3%
margin

Separation      -             -            920           999          1,919
costs
Adjusted       $          $        $         $          $     
EBITDA         24,899       5,660        2,547         (8,846)     24,260
Adjusted       18.2%         17.9%        8.7%                       12.2%
EBITDA margin



KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF NET INCOME AND OPERATING INCOME (GAAP) TO
EBITDA AND ADJUSTED EBITDA (NON-GAAP)
(in thousands)
(unaudited)
                Year Ended April 30, 2013
                Executive    Leadership
                Recruitment  & Talent     Futurestep  Corporate  Consolidated
                              Consulting
Fee revenue   $           $          $           $       $    
                522,479      168,115      122,237         -       812,831
Net income                                                          $     
                                                                      33,293
 Other                                                          6,309
income, net

Interest                                                              (2,365)
expense, net
 Income                                                         16,637
tax provision
 Equity
in earnings of
unconsolidated                                                        2,110
subsidiaries,
net
Operating      $          $        $          $           43,876
income (loss)  80,965       6,424        10,975        (54,488)

Depreciation    8,991         6,012        1,180         2,821        19,004
and
amortization
 Other
income (loss),  793           (75)         51            5,540        6,309
net
 Equity
in earnings of
unconsolidated  434           -            -             1,676        2,110
subsidiaries,
net
EBITDA        91,183        12,361       12,206        (44,451)     71,299
EBITDA         17.5%         7.4%         10.0%                      8.8%
margin

Restructuring   8,194         10,198       3,527         938          22,857
charges, net

Transaction
and             -             -            -             3,106        3,106
integration
costs

Separation      516           -            -             -            516
costs
Adjusted       $          $         $          $           $     
EBITDA         99,893       22,559       15,733        (40,407)    97,778
Adjusted       19.1%         13.4%        12.9%                      12.0%
EBITDA margin
                Year Ended April 30, 2012
                Executive    Leadership
                Recruitment  & Talent     Futurestep  Corporate  Consolidated
                              Consulting
Fee revenue   $           $          $           $       $    
                561,202      115,407      113,896         -       790,505
Net income                                                          $     
                                                                      54,303
 Other                                                          (271)
loss, net

Interest                                                              (1,791)
expense, net
 Income                                                         28,351
tax provision
 Equity
in earnings of
unconsolidated                                                        1,850
subsidiaries,
net
Operating      $           $         $         $           82,866
income (loss)  109,934      16,360       8,445         (51,873)

Depreciation    8,140         2,613        1,070         2,194        14,017
and
amortization
 Other
(loss) income,  (145)         146          41            (313)        (271)
net
 Equity
in earnings of
unconsolidated  159           -            -             1,691        1,850
subsidiaries,
net
EBITDA        118,088       19,119       9,556         (48,301)     98,462
EBITDA         21.0%         16.6%        8.4%                       12.5%
margin

Restructuring   783           -            146           -            929
charges, net

Separation      -             -            920           999          1,919
costs
Adjusted       $           $         $          $           $    
EBITDA         118,871      19,119       10,622        (47,302)    101,310
Adjusted       21.2%         16.6%        9.3%                       12.8%
EBITDA margin



SOURCE Korn/Ferry International

Website: http://www.kornferry.com
Contact: Investor Relations, Gregg Kvochak, +1-310-556-8550, or Media, Mike
Distefano +1-310-843-4199