UPDATE 1-Heidrick & Struggles posts higher profit

* Q4 EPS $0.52 vs year-ago $0.30

* Q4 search confirmations up 7.1 pct

Feb 23 (BestGrowthStock) – Executive recruiter Heidrick & Struggles
International Inc (HSII.O: ) posted higher quarterly profit and
said the number of search confirmations grew year-over-year for
the first time since 2007.

For the fourth quarter, the company’s net income was $9.4
million, or 52 cents a share, compared with $5.3 million, or 30
cents a share, a year ago.

Tax rate for the current quarter was 11.4 percent, much
lower than the year-ago 27.9 percent.

Net revenue fell 19 percent to $109.9 million.

Analysts were expecting earnings of 35 cents a share on
revenue of $105.8 million, according to Thomson Reuters
I/B/E/S.

The number of executive search confirmations in the quarter
increased 7.1 percent.

For 2010, the company forecast revenue of $440 million to
$480 million. Analysts were looking for $439.2 million.

Shares of the company closed at $29.09 Monday on Nasdaq.

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(Reporting by A.Ananthalakshmi in Bangalore)

UPDATE 1-Heidrick & Struggles posts higher profit