US-listed global executive search firm CTPartners has announced its net revenue for Q4 and full-year 2014 increased 22.7% and 32.4% to $42.1m (£28.2m) and $34.3m respectively. 

As previously reported, the company delayed the filing of its annual and Q4 results as it was seeking alternative funding. 

CTPartners announced yesterday (15 April) it had closed a round of fundraising with a “publicly traded insurance company and an affiliate thereof”.

The financial results showed net revenue for the quarter ending 31 December 2014 increased from $34.3m to $42.1m with a particularly strong performance from the Asia Pacific region where revenue was up 84.8% to $4.5m. Revenue in the North American region, the biggest for the company, increased 13.9% to $23.1m. 

Revenue within the company’s largest practice, financial services, increased 41.5% to $14.4m but it was the life science practice that increased at the fastest rate with revenue up 42.2% to $8m. The professional services division, however, saw a revenue decrease of 23.9% to $5.2m. 

On a sequential basis, compared to Q3 2014, revenue in all regions except Asia Pacific and all practices except financial services was down. Overall, revenue was down 7.3% to $42m sequentially. 

Full year revenue increased to $172.5m. As in Q4, the Asia Pacific region saw strong growth with revenue up 93.1% to $13.5m, followed by Europe, the Middle East and Africa (EMEA) in which revenue increased 31.3% to $42.8m. Revenue in the company’s North American operations increased 28.3% to $100.3m.

Over the year, financial services was the top performing division with revenue increasing 51% to $52.3m, followed by technology media & telecom in which revenue increased $45.2m to $21.4m.

The statement also said the special committee of its board continued to “review all of CTPartners strategic alternatives… including a previously announced, unsolicited, non-binding proposal from DHR International, Inc.”.

DHR International, also an executive search firm, proposed to acquire all outstanding shares of CTPartners, as announced on 6 February.