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financials RSS feed Tag: financials

Monster Reports Weak Quarter; Outlook Is Not Promising

by
John Zappe
Aug 2, 2012, 11:09 am ET

Even Monster’s CEO had a hard time finding much to be optimistic about in the company’s 2nd quarter performance.

There’s some improvement in bookings in North America; Power Resume Search, with its premium pricing is beginning to gain some traction in Europe; and the big Kforce deal is the first of several in the admittedly slow process of being forged with staffing companies.

Potential, however, doesn’t trump results, and the numbers for Monster’s last quarter were not entirely what Wall Street was expecting. The company reported earning 6 cents a share after adjustments, in line with predictions. But revenue was $237 million, some $6 million below the average of analysts’ estimates of $243.3 million. keep reading…

LinkedIn the Likely Winner In 2nd-quarter Financial Reports

by
John Zappe
Aug 1, 2012, 6:11 pm ET

This is a big week for the job board industry. Monster reports its second-quarter results Thursday morning before the market opens, and LinkedIn reports later, after the market closes.

The two couldn’t be more of a contrast. Wall Street expects Monster to have earned six cents a share for the quarter, a drop of a third from last year’s nine cents a share in earnings. LinkedIn is expected to report earning 16 cents a share, a 60 percent increase over last year.

The headline on a Motley Fool post says it all: “Why LinkedIn Might Kill It Tomorrow.”  Why? It’s because “LinkedIn’s Hiring Solutions business is on fire.” Continues writer John Reeves: “In the first quarter of 2012, Hiring Solutions grew 121% to $103 million. This accounted for 54% of LinkedIn’s revenue, and that percentage has been steadily climbing over the past few quarters.” keep reading…

Softness in IT Job Ads Prompts Dice to Lower Estimates

by
John Zappe
Jul 25, 2012, 3:53 pm ET

A slowdown in tech hiring among the long tail — smaller firms outside the major markets — coupled with a falloff in financial services hiring has prompted Dice Holdings to reduce its revenue and earnings outlook for the rest of this year.

Despite beating analyst expectations on earnings, and missing on revenue by less than 1 percent, Wall Street responded to the lowered expectation by selling down the stock. Dice saw its stock price slip by just over $1 a share. In late trading today Dice was selling at $7.20 a share, a 12.5 percent drop.

While reporting earnings of 14 cents a share versus the 13 cents Wall Street expected, Dice officials declared themselves “disappointed” with the company’s performance. In April, Dice predicted Q2 revenue of $49 million, versus the $48.46 million it reported.

The company also lowered full-year revenue by $10 million to $189 million, and said the current third quarter revenue would be $47 million.

“Q2 is not the quarter we expected,” Chairman and CEO Scot Melland told analysts on a conference call this morning. “We were surprised by the quick change in the environment in Q2.”

Tech hiring, still strong in tech centers such as Silicon Valley, New York, and Boston, has fallen off elsewhere, especially among smaller companies.

“Tech is still tight,” Melland explained in response to an analyst’s question. “But it tends to be tight in the tech centers. When you get outside of the tech industry and the tech centers, it’s a different story.” keep reading…

LinkedIn Reports Big 1st Q; Buys SlideShare; Stock Soars

by
John Zappe
May 3, 2012, 6:12 pm ET

LinkedIn served up a double surprise today, reporting it grew revenue in the first quarter by 101 percent, and buying content sharing site SlideShare.

Minutes after the markets closed in New York, LinkedIn made the two announcements, sending its already pricey shares up almost 10 percent in after-hours trading. The stock, which closed the day at $109.41, hit $119.80 after the reports were out.

LinkedIn said the SlideShare purchase is worth about $118.75 million, to be paid in a combination of stock and cash. Like LinkedIn, SlideShare is widely used by businesses and professionals, who use it to host their PowerPoint, documents, and other presentations. Users upload their materials, which can then be shared, and viewed in much the same way videos are on YouTube. keep reading…

Monster Doubles Profit Estimate, Sending Stock Soaring

by
John Zappe
Apr 26, 2012, 4:17 pm ET

Monster is a winner today on Wall Street; its stock up more than 16 percent at one point after reporting earnings that were double what analysts forecast.

It closed at $8.93; up 9.44 percent.

In the first quarter, the company saved its way to a 4 cent per share profit, not including one-time expenses or income. Though less than last year’s 5 cents, the earnings reflected the commitment Chairman and CEO Sal Iannuzzi made in previous financial reports to strengthen the company and keep a lid on expenses. keep reading…

Dice Has Strong Quarter; Monster Expected to Show Declines

by
John Zappe
Apr 25, 2012, 7:52 pm ET

Dice had a strong first quarter, as quickening tech hiring boosted the company’s revenues, helping it to beat analysts’ estimates by a comfortable 2 cents a share.

Dice Holdings, Inc., owner of several niche job boards, reported earning $8.6 million on revenues of $46.1 million, or 13 cents a share. Wall Street investors liked what they heard, bidding up Dice shares by 7.18 percent. The stock closed at $10.30 and was headed somewhat higher in after-hours trading.

While the company’s flagship Dice.com accounted for the bulk of the revenue at $31.1 million, the energy industry sector saw the fastest growth, increasing to $4 million versus last year’s $3.1 million. Only its eFinancial boards saw a decline, reflecting the general softness of the financial industry worldwide. keep reading…

Monster For Sale: Buy All or Part. Offers Accepted

by
John Zappe
Mar 22, 2012, 6:40 pm ET

Saying, “At a certain price, anything’s for sale,” Monster CEO and Board Chairman Sal Iannuzzi unequivocally confirmed today that the job board or pieces of it could be sold off in the coming months.

However, not just any deal will be accepted, he said in interviews conducted at the company’s Innovation Day demonstrations in New York City. “It would have to be compelling and it would have to make sense to Monster as a whole. This is not just about raising money.”

The buyer is less important, Iannuzzi implied, telling Bloomberg, “We’re agnostic as to what type of acquirer it is.

“The real issue is we know we have value, and we know we can go around and look for opportunities to get that.” keep reading…

Monster’s 7 Warning Signs May Have Come Too Late

by
John Zappe
Mar 16, 2012, 5:10 am ET

Is Monster becoming a Mini-ster?

That’s the kind of question that’s really meant to be a statement. No matter how you answer it, the predicate already tells us it’s going to be bad for the subject. No surprise, then, that Jason Buss posed it last week in the midst of offering “7 Warning Signs For Monster.com.”

It’s a sad litany of the ills that have befallen the once-mighty job board. The company that is synonymous with digital recruiting, is up for sale, or in the Wall Street speak used by CEO Sal Iannuzzi, it’s exploring “strategic alternatives.”

The company has retained financial advisers to help it with that exploring. The outcome could be almost anything from nothing to a partial divestiture to the outright sale that many think is the likely path. The only mystery there is who would buy. keep reading…

Strong ADP Jobs Report Does Little to Help Monster

by
John Zappe
Mar 7, 2012, 1:07 pm ET

Job board operator Monster, which CNN says is officially up for sale, got little help today from a positive jobs employment report that buoyed the rest of the market, helping it regain some of Tuesday’s triple-digit loss.

Payroll processor ADP said 216,000 private sector jobs were created in February. The company’s closely watched National Employment Report offers clues to what the official jobs report from the U.S. Department of Labor will show when it is released Friday. (ADP counts only private-sector jobs, while the Labor Department report includes all levels of government workers, a sector that has seen deep cuts in its workforce.) keep reading…

Monster May Be For Sale

by
John Zappe
Mar 1, 2012, 7:12 pm ET

The long-rumored sale of employment publisher Monster could become a reality following news today the company is seeking “strategic alternatives” to improving its shareholder performance.

Speaking at a business conference in Boston today, Monster Chairman and CEO Sal Iannuzzi said the company is weighing “strategic alternatives to increasing shareholder value.” Although Iannuzzi did not specifically say a sale is being considered, he strongly hinted at it when he added that company leaders will “ensure that we extract the maximum amount of shareholder value in any way we can.”

Investors took the hint, bidding up the stock from this morning’s opening price of $6.89 a share to $8.01.

Reuters reported that a Monster spokeswoman declined to expand on Iannuzzi’s comments. Investors evidently anticipate that whatever alternative the board and management eventually come up with, it will be good for the stock price. Options volume on Monster’s stock increased 32 times over an average day. keep reading…

Strong Financial Report Sends LinkedIn Stock Zooming

by
John Zappe
Feb 9, 2012, 7:09 pm ET

LinkedIn’s financial report released after the New York markets closed this afternoon is sending its stock soaring in after-hours trading as investors reward the company for its galloping growth that the company predicts will continue this year, and at faster rate than Wall Street expects.

LinkedIn closed Thursday at $76.39, down 15 cents. But after investors got a look at the report, the stock climbed up, and within two hours was trading at $83.25, up 9 percent.

The company reported fourth quarter revenue of $167.7 million, more than double its fourth quarter last year. Analysts, who had been expecting the company to finish strong, predicted revenues of $159.7 million. They also expected a 7 cent per share profit. LinkedIn reported earning an adjusted 12 cents per share.

Calling 2011 “A landmark year for LinkedIn,” CEO Jeff Weiner said the company would continue to grow this year, putting an emphasis on expanded mobile capabilities, the international market, and plans to “refresh a number of our pillar products.” Many of those are recruiting related.

Before today’s financial report and an after-market conference call, analysts projected LinkedIn would earn 57 cents a share on revenue of $828.2 million. Now, the company says it expects revenue in a range of $840-$860 million. For 2011, LinkedIn’s revenue totaled $522.1 million. keep reading…

Dice Reports Strong 4th Q, Less Certain About 2012

by
John Zappe
Feb 2, 2012, 1:58 pm ET

Dice this morning became the second job board in a week to see its stock price drop after reporting a profitable quarter and a year of growth.

Hours after the company reported it nearly doubled its fourth-quarter profit over the same quarter in 2010, meeting Wall Street’s expectations, its stock price took a 16 percent beating. In afternoon trading in New York, Dice Holdings was selling for $8.40 a share, down $1.59 on the day.

Last week Monster’s stock took a 20 percent hit after it missed analyst profit expectations and announced layoffs. The company earned 11 cents a share, rather than the 12 cents Wall Street expected. Yet, the company grew revenue for the year by about 14 percent and turned 2010′s loss into a 37 cents a share profit.

keep reading…

Facebook Files For IPO

by
John Zappe
Feb 1, 2012, 6:01 pm ET

Facebook did today what everyone expected: It filed for an IPO.

In the paperwork submitted to the Securities and Exchange Commission, Facebook said it expects to raise $5 billion from the public sale of its stock. That’s based on the registration fee it paid. The New York Times says it could end up raising much more.

Facebook reported in its S-1 filing that it earned $1 billion on revenue of $3.7 billion, most of it coming from advertising. It reported having 845 million monthly active users as of the end of the year, a 39 percent increase over the year before. In the U.S., Facebook saw a 16 percent bump over 2010, ending last year with 161 million monthly average users, or about half the country’s total population.

Its average daily user count is 483 million, meaning more than half those who visit the site in a month do so every day. The company also reported 425 million monthly mobile users, a number it expects will grow with some of it replacing PC access. keep reading…

Monster Lays Off 400, Misses on Revenue, Earnings

by
John Zappe
Jan 26, 2012, 1:06 pm ET

Monster is taking a battering on Wall Street today after the company missed the earnings expectations of the financial markets and warned it may just break even in the current quarter.

Monster’s stock price was down almost 20 percent at lunchtime in New York, a drop of $1.79 on the day. Trading below $10 for so long that Standard & Poors moved the company out of its S&P 500 stock basket in December, Monster’s price is now right at $7.19 a share.

The jobs advertising company, which yesterday laid off 400 employees, issued its fourth-quarter and full-year financials this morning before the markets opened. Despite growing revenue by almost 14 percent for the year, the company fell short in the final quarter. It earned 11 cents a share versus the 12 cents analysts were expecting. Monster’s revenue for the quarter also fell short, coming in at $250 million instead of the $259 million average estimate of Wall Street analysts. keep reading…

Mystery Applicants and More in Today’s Roundup

by
John Zappe and Todd Raphael
Dec 23, 2011, 5:00 am ET

Ending what, for most, is a short week, we bring you the penultimate Friday roundup for 2011. Today’s collection includes mystery applicants, a police recruiting campaign gone bad, and Salesforce’s Rypple.

We start with a job seeker good deed from the Challenger people:

Free Job Hunting Advice By Phone

For two days next week, job seekers will be able to get career advice directly from professional counselors at no charge. From 9 a.m. to 5 p.m. CST on December 27 and 28, counselors will accept calls from job seekers nationwide, answering questions and offering advice about the job hunting process.

The number is 312-422-5010. Job hunters can get more information about the call-in at firm’s website and blog.

This is the 26th year that the global outplacement firm Challenger, Gray  & Christmas will offer this free call-in service .

Salesforce Acquires Rypple

Rypple, the company that brought a social, collaborative networking approach to performance management, is being acquired by Salesforce.com. The CRM company announced last week that it was buying Toronto-based Rypple for an undisclosed amount. keep reading…

Monster Out of S&P 500; Could Be a Takeover Target

by
John Zappe
Dec 16, 2011, 2:17 am ET

With a stock price so low Monster is about to fall out of the S&P 500, there’s some very public speculation that the global employment advertising company could be bought by a private equity fund.

Rumors have periodically made the rounds of a potential or even pending sale — 20 of them since 2006, according to Bloomberg. All have proven false. But now, says the financial news service, financial analysts and some of Monster’s largest shareholders say the time and price may be right for a takeover.

“The valuation is absurdly cheap,” Eric Green, a Philadelphia-based fund manager at Penn Capital, told Bloomberg. With 3.2 million shares of Monster stock, Penn Capital is one of the company’s largest shareholders.

“The stock has been a clear disappointment,” Green is quoted as saying. He suggested a takeover price of $15 a share. That’s a 92 percent premium over Thursday’s closing price of $7.83. “I would love to see someone buy it,” he said.

Monster’s stock price has declined steadily since hitting a 10-year high of $59.28 in May, 2006. In the last 12 months, the stock has been as high as $25.90, reaching there in January, when the economy seemed ready for a hiring surge. Since August, it has been under $10 a share.

The market value of the company is now about $1 billion, $5 billion less than it was worth in 2006. Its 66 percent decline since the start of this year is the largest of any company included in the S&P 500. As a result, Monster is being moved by Standard & Poors to its MidCap 400 after the market closes today. keep reading…

Obtaining Strategic Hiring Targets With a Limited Budget

by
Brendan Shields
Nov 9, 2011, 5:05 pm ET

Most of you are no strangers to slashed budgets over the past few years. Yet just because budgets are reduced doesn’t mean your workload is. So how do you maintain quality of hire without the budget for your preferred tools and technology? Pacific Northwest National Laboratory did just that, by developing a carefully planned strategy and thinking outside the box. Join us as Rob Dromgoole explains how they make big hires on a small budget.

For more podcasts, webinars, and articles on recruiting be sure to check out ERE.net!

 

Kennedy OnRec Conference Business Sold

by
John Zappe
Nov 3, 2011, 8:55 pm ET

The OnRec and Kennedy conferences, operated jointly as “The Recruiting Conference,” which just ended today in Chicago, have been acquired by an investment group led by two brothers who previously owned Kennedy Information.

Greenhaven Partners bought the annual conference and RecruitingTrends.com, the online successor to the venerable Kennedy Information print newsletter of the same name. The price was not disclosed. The conference and the website were owned by Tarsus Group, a publicly held U.K.-based international business-to-business media and conference firm. Tarsus bought OnRec several years ago, just as it was beginning to hold its first North American conference. OnRec was founded in the United Kingdom, and has a strong presence there with its website, print magazine, and conferences.  OnRec’s UK assets were not part of the sale. keep reading…

LinkedIn Riding The Bulls. Plans to Sell More Stock and Hire 500

by
John Zappe
Nov 3, 2011, 8:49 pm ET

LinkedIn lost money, but still beat analyst estimates, blowing through the most optimistic projections by millions and ending the quarter with $139.5 million in revenue. The company also announced it would sell $100 million more of its shares to finance its aggressive expansion.

The company told investors and analysts during a conference call after the markets closed this afternoon that it would add some 500 to 600 more employees by the end of the year. CEO Jeff Weiner said the rapid expansion would give LinkedIn a jump on 2012. keep reading…

Dice Reports Strong Growth, But Is Cautious About What’s Ahead

by
John Zappe
Nov 2, 2011, 2:58 pm ET

Strong demand for IT and finance helped propel job board operator Dice Holdings to a 36 percent increase in revenue and a 51 percent jump in earnings.

The company this morning reported earning $9.3 million on revenue of $46.8 million in the 3rd quarter, yielding per share earning of 13 cents. Last year for the same quarter the company earned 9 cents per share.

The company said growth was driven by its flagship site, Dice.com, which saw an 18 percent increase in its recruitment-package customers whose average monthly spend grew by 12 percent. The eFinancialCareers operations also saw strong growth with a 29 percent increase over the same quarter last year.

Overall, the numbers were in line with analysts’ expectations. Revenue, in fact, slightly exceeded the estimates.

However, company officials estimated revenue for the current 4th quarter would come in at $47.5 million, $1 million below what Wall Street was projecting. The guidance pushed Dice’s stock to a low of $8.50 after opening at $9.50.

Dice CEO Scot Melland said, “Recruitment activity did improve in September after a seasonally slower summer; however, the magnitude was less than what we traditionally experience. As expected, recruitment activity slowed in financial services and economic uncertainty is impacting the urgency some companies place on recruiting.’

His comments echoed those of Monster Worldwide executives who noted an apparent slowdown in hiring activity beginning in September. Monster officials said the slowdown appeared to be extending into October.