Dice Wows Wall Street and Sees Stock Zoom

Nov 2, 2010
This article is part of a series called Financial.

Dice has accomplished the nontrivial. For the third quarter it earned more money and had more revenue, and now expects to end the year all better than Wall Street expected. For that, the Street rewarded the once-bankrupt job board company with a stunning 19 percent jump today in its stock price.

Dice Holdings, Inc., owner of owner of job boards in the financial, security and energy sectors, and, its flagship IT career site, reported its third quarter financial results today.

“The third quarter performance included our best sales growth of any quarter this year illustrating how strongly we are performing in this sideways employment market,” said Scot Melland, chairman, president and CEO of Dice Holdings.

Some of the revenue contribution came from acquisitions the company made this year. Rigzone (oil and gas industry news and jobs) and WorldwideWorker (energy industries with an emphasis on petroleum) contributed $1.5 million to revenue during the quarter. But even without them, Dice grew revenue by 23 percent over last year’s 3rd quarter.

Profit doubled over last year to $6.1 million, which translates into 9 cents a share. A consensus of Wall Street analysts predicted Dice would earn 6 cents. For the full year, analysts were expecting $123.57 in revenue. In today’s financial release, Dice said it expected to be around $127.6 million.

The company’s stock, which hit a low of $2.23 last year, closed today at $10.75, up 18.92 percent on the day.

This article is part of a series called Financial.
Get articles like this
in your inbox
Subscribe to our mailing list and get interesting articles about talent acquisition emailed weekly!