Monster Worldwide Sales Decline
12 February 2016 - 1:50AM
Dow Jones News
Monster Worldwide Inc. on Thursday said its sales declined 9.2%
in the fourth quarter, falling short of analysts' estimates, though
adjusted profit rose in line with company expectations.
The company's outlook for the current quarter was also below
analysts' expectations. Monster said it anticipates earnings for
the current quarter in the range of 6 cents to 10 cents on an
adjusted basis. Analysts had projected 13 cents.
The job-search website operator has put a focus on its core
online-recruitment platform in recent quarters. The company sold
its remaining stake in JobKorea for about $85 million. The results
for the fourth quarter include the impact of the sale, which the
company said added 50 cents a share to its earnings for the
period.
Over all, Monster reported a profit of $56.1 million, or 62
cents a share, compared with a prior-year loss of $289.7 million,
or $3.31 a share. Excluding one-time items, such as proceeds from
the JobKorea stake sale and a $325.8 million goodwill charge in the
year-ago period, earnings were 12 cents a share, up from a nickel a
year ago.
The company had previously forecast per-share earnings in a
range of 10 cents to 14 cents on an adjusted basis.
Revenue slipped 9.2% to $159.2 million. Analysts polled by
Thomson Reuters had expected revenue of $167 million.
Operating expenses, adjusted to exclude the goodwill charge and
other items, declined 12%.
Shares in the company, down 33% in the past three months, were
inactive in premarket trading.
Monster also said Thursday it would integrate its Monster Social
Job Ads recruitment tool on Facebook, allowing employers to
advertise job openings to Facebook users. The company already uses
the tool on Twitter, where it said its customers had seen 90
million impressions on the ads.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
February 11, 2016 09:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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