CTPartners Executive Search Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenue increased 22.7% to $42.1 million over the $34.3 million reported in the prior year's fourth quarter. GAAP net loss attributable to the Company for the fourth quarter was $1.3 million, or $0.17 per share, compared to net income of $0.1 million, or $0.02 per share, for last year's fourth quarter. Excluding after-tax non-operating items of $0.7 million and $0.9 million for 2014 and 2013, respectively, 2014 fourth quarter adjusted net loss was $0.6 million, or $0.08 per share, compared to an adjusted net income of $0.9 million, or $0.12 per share, in the prior year's fourth quarter. Adjusted operating loss was $0.09 million in the fourth quarter compared to an adjusted operating income of $1.5 million in the year-ago fourth quarter. Adjusted EBITDA was a loss of $0.3 million in the 2014 fourth quarter compared to $2.1 million in the year-ago fourth quarter.

For the year, the company reported total revenue of $176.823 million against $134.28 million a year ago. Operating income was $5.742 million against operating loss of $2.706 million a year ago. Income before income taxes was $5.476 million against loss before income taxes of $2.885 million a year ago. Net income attributable to company was $3.307 million or $0.46 basic and diluted per share against net profit attributable to company of $1.632 million or $0.23 basic and diluted per share a year ago. Adjusted net income was $5.223 million or $0.70 adjusted per share against adjusted net income of $1.818 million or $0.24 adjusted per share a year ago. Adjusted EBITDA was $11.052 million compared to $5.144 million a year ago. Net cash used in operating activities was $0.191 million against net cash provided by operating activities of $2.918 million a year ago. Purchase of leasehold improvements and equipment was $2.696 million against $1.665 million a year ago.

The company expects to report approximately $35 million in revenue during the first quarter 2015. The company stated that it has withdrawn its full year 2015 revenue guidance that was previously reported.