11-7-13 7:30 AM EST | Email Article

Monster Worldwide, Inc. (NYSE:MWW) today reported financial results for the third quarter ended September 30, 2013.

“Our third quarter results were encouraging as we experienced stability in North America, protected profitability and continued executing on several important initiatives to enhance future growth,” said Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide. “The stabilization we experienced in North America in the second quarter continued and we are cautiously optimistic that this positive momentum will result in sequential revenue growth in North America in the fourth quarter of 2013.”

“We are pleased to announce the sale of a minority stake in our South Korean business for $90 million which demonstrates the underlying value of the Monster enterprise. We look forward to working with our partner, H&Q Korea, to grow this profitable business as well as to explore the potential expansion of this partnership throughout the Asia Pacific region. We are also excited to announce the expansion of our alliance with Alma Media in Eastern Europe and the Baltic region, which will enhance the profitability of these businesses and grow our market share position. Finally, consistent with our objective to enhance shareholder returns, we successfully repurchased $37 million worth of our shares in the quarter.”

Third Quarter 2013 Results

Revenue was $197 million, compared to third quarter 2012 revenue of $221 million. Careers – North America revenue of $110 million was flat on a sequential basis. Historical data on revenue for prior quarters is available in the Company’s supplemental financial information.

Consolidated operating expenses of $183 million decreased 9% compared to $201 million of Non-GAAP operating expenses in the third quarter 2012. Income from continuing operations for the third quarter of 2013 was $8.2 million, or $0.08 per share, compared to $41.1 million, or $0.37 per share in the third quarter 2012, which included a $31 million non-cash tax benefit. Non-GAAP net income from continuing operations in the third quarter of 2012 was $11.7 million, or $0.10 per share. EBITDA margin of 17% was led by Careers-North America with a 23% margin. Pro-forma items are described in the "Notes Regarding the Use of Non-GAAP Financial Measures" and are reconciled to the GAAP measure in the accompanying tables.

Net cash provided by operating activities in the quarter was $2.3 million, which included approximately $5 million of non-recurring cash outflows associated with restructuring activities. Deferred revenue was $316 million compared to $329 million as of June 30, 2013 and $352 million as of December 31, 2012. The Company ended the quarter with total available liquidity of $214 million.

Sale of Minority Stake in JobKorea

The Company has announced today that it has agreed to sell a 49.9% minority stake of JobKorea to H&Q Korea (“H&Q”) for a purchase price of $90 million. H&Q is a leading Asian private equity firm focused on companies with leading market positions, solid growth potential and profitability. Monster will retain management control in JobKorea and will leverage H&Q’s expertise and extensive Asia Pacific regional network to enhance and grow this profitable business. Monster will continue to consolidate the results of JobKorea.

Joint Venture with Alma Media

The Company has also announced an agreement to expand its current relationship with its joint venture partner in Finland. Alma Media is a leading media company focused on digital services and publishing in Finland, the Nordic countries, the Baltics and Central Europe. Monster and Alma Media will each contribute several additional entities and businesses into the existing joint venture and form a significantly larger joint venture where Monster will have an initial equity ownership of 15%, with the opportunity to increase ownership to 20%. Combining these assets will create an entity with the #1 market share position in the region and allow Monster to leverage another significant strategic partner for expanding and competing in new markets across the region.

Share Repurchase

During the third quarter 2013, Monster repurchased 8 million shares of its common stock at an average price of $4.64 per share, for a total of $37.2 million. At September 30, 2013, there was approximately $139.5 million remaining under the Company’s previously announced $200 million share repurchase program. Year to date, the Company has repurchased 12 million shares, or 11% of its total shares outstanding.

Nine Months Results

Monster Worldwide reported total revenue of $609 million for the first nine months ended September 30, 2013 compared to $679 million in the same period last year, a 10% decrease. Monster Careers revenue decreased 11% to $554 million compared with $621 million in the 2012 period. Internet Advertising & Fees reported revenue of $55 million compared to $58 million in the prior year period. The Company reported income from continuing operations of $23 million, or $0.21 per share, compared to $63 million, or $0.55 per share, in the prior period.

Company Provides Q4 EPS Guidance

Beginning this quarter, any guidance provided will exclude non-cash, stock-based compensation expense in order to provide a better measurement of Monster’s operating performance, cash generation potential and value as a company.

Fourth quarter 2013 Non-GAAP EPS from continuing operations is expected to be in the range of $0.09 to $0.13, which excludes approximately $8 million of stock-based compensation expense.

Third quarter 2013 Non-GAAP EPS from continuing operations would have been $0.11 excluding approximately $5 million of stock-based compensation expense.

Historical data on Non-GAAP EPS excluding stock-based compensation expense for prior quarters is available in the Company’s supplemental financial information.

Conference Call and Webcast

Third quarter 2013 results will be discussed on Monster Worldwide’s quarterly conference call on November 7, 2013 at 8:30 AM ET. A live webcast of the conference call can be accessed online through the Investor Relations section of the Company’s website at http://ir.monster.com. To join the conference call by telephone, please dial (888) 696-1396 or (706) 758-9636 and reference conference ID# 90871551.

A presentation of financial slides will be referenced during the conference call and will be viewable through the live webcast. A PDF of the financial presentation can also be accessed directly through the Company’s Investor Relations website at http://ir.monster.com.

The Company has also made available certain supplemental financial information which can be accessed directly through the Company’s Investor Relations website at http://ir.monster.com.

For a replay of the conference call, please dial (855) 859-2056 or (404) 537-3406 and reference ID# 90871551. This number is valid until midnight on November 21, 2013.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE:MWW), is the global leader in successfully connecting job opportunities and people. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about.monster.com

Special Note: The statements in this release that are not strictly historical, including, without limitation, statements regarding the Company's strategic direction, prospects and future results, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties and, therefore, actual results may differ materially from what is expressed or implied herein and no assurance can be given that the Company will achieve, among other things, its outlook with respect to earnings per share for the fourth quarter 2013. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated into this release by reference. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on the forward-looking statements in this release as they reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any of the forward-looking statements contained in this release or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Notes Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain non-GAAP financial information as additional information for its operating results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles (“GAAP”) and may be different from non-GAAP measures reported by other companies. The Company believes that its presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations.

Non-GAAP revenue, operating expenses, operating income from continuing operations, operating margin, income from continuing operations, (loss) income from discontinued operations, net of tax, and diluted earnings (loss) per share all exclude certain pro-forma adjustments including: costs incurred for the 2012 restructurings; recovery of restitution award from former executive; costs incurred related to the Company’s review of strategic alternatives; income tax benefits associated with the reversal of income tax reserves on uncertain tax positions and a tax benefit related to certain losses arising from the Company’s restructuring programs; and the results of the businesses in Careers – China, Latin America and Turkey as they have been classified as discontinued operations. The Company uses these non-GAAP measures for reviewing the ongoing results of the Company’s core business operations and in certain instances, for measuring performance under certain of the Company’s incentive compensation plans. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is defined as net income or loss before interest income or expense, income tax expense or benefit, net gain or loss in equity interests, depreciation and amortization, non-cash compensation expense and non-cash restructuring costs. The Company considers EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. EBITDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

Free cash flow is defined as cash flow from operating activities less capital expenditures. Free cash flow is considered a liquidity measure and provides useful information about the Company's ability to generate cash after investments in property and equipment. Free cash flow reflected herein is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies. Free cash flow does not reflect the total change in the Company's cash position for the period and should not be considered a substitute for such a measure.

Net cash and securities are defined as cash and cash equivalents plus short-term marketable securities, less total debt. Total available liquidity is defined as cash and cash equivalents, plus short-term marketable securities plus unused borrowings under our credit facilities. The Company considers net cash and securities and total available liquidity to be important measures of liquidity and indicators of its ability to meet its ongoing obligations. The Company also uses net cash and securities and total available liquidity, among other measures, in evaluating its choices for capital deployment. Net cash and securities and total available liquidity are presented herein as non-GAAP measures and may not be comparable to similarly titled measures used by other companies.

MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
       
Three Months Ended September 30, Nine Months Ended September 30,
2013 2012 2013 2012
 
Revenue $ 196,817   $ 220,821   $ 608,861   $ 679,148  
 
Salaries and related 92,931 98,780 279,973 310,904
Office and general 51,542 60,651 154,936 171,104
Marketing and promotion 38,089 43,099 130,750 143,823
Restructuring and other special charges - 244 19,995 25,527
Recovery of restitution award from former executive   -     -     -     (5,350 )
Total operating expenses   182,562     202,774     585,654     646,008  
 
Operating income 14,255 18,047 23,207 33,140
 
Interest and other, net   (1,482 )   (1,532 )   (4,107 )   (4,184 )
 
Income before income taxes and loss in equity interests 12,773 16,515 19,100 28,956
 
Provision for (benefit from) income taxes 4,480 (24,871 ) (5,153 ) (35,245 )
Loss in equity interests, net   (119 )   (271 )   (822 )   (726 )
 
Income from continuing operations 8,174 41,115 23,431 63,475
 
Income (loss) from discontinued operations, net of tax   3,095     (235,354 )   (3,798 )   (249,170 )
 
Net income (loss) $ 11,269   $ (194,239 ) $ 19,633   $ (185,695 )
 
*Basic earnings (loss) per share:
 
Income from continuing operations $ 0.08 $ 0.37 $ 0.21 $ 0.56
Income (loss) from discontinued operations, net of tax   0.03     (2.12 )   (0.03 )   (2.20 )
Basic earnings (loss) per share $ 0.11   $ (1.75 ) $ 0.18   $ (1.64 )
 
*Diluted earnings (loss) per share:
 
Income from continuing operations $ 0.08 $ 0.37 $ 0.21 $ 0.55
Income (loss) from discontinued operations, net of tax   0.03     (2.10 )   (0.03 )   (2.17 )
Diluted earnings (loss) per share $ 0.11   $ (1.73 ) $ 0.18   $ (1.62 )
 
 
Weighted average shares outstanding:
 
Basic   105,394     111,239     109,221     113,460  
 
Diluted   105,967     112,212     110,247     114,622  
 
 
 
EBITDA:
 
Operating income $ 14,255 $ 18,047 $ 23,207 $ 33,140
Depreciation and amortization of intangibles 14,545 16,076 46,374 47,893
Amortization of stock-based compensation 4,901 5,683 17,165 21,189
Restructuring non-cash expenses   -     -     5,315     6,417  
 
EBITDA $ 33,701   $ 39,806   $ 92,061   $ 108,639  
 
*Earnings per share may not add in certain periods due to rounding.
 
MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
   
Nine Months Ended September 30,
2013 2012
Cash flows provided by operating activities:
Net income (loss) $ 19,633   $ (185,695 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization 46,374 52,741
Provision for doubtful accounts 1,750 2,064
Non-cash compensation 17,165 21,582
Deferred income taxes 2,218 (294 )
Non-cash restructuring charges 5,315 6,417
Loss in equity interests, net 822 726
Amount reclassified from accumulated other comprehensive income (23,109 ) -
Tax benefit from change in uncertain tax positions (14,355 ) (43,193 )
Impairment of goodwill - 216,221
Excess income tax benefit from equity compensation plans (4,014 ) -
Changes in assets and liabilities, net of acquisitions:
Accounts receivable 41,461 13,341
Prepaid and other 12,184 11,109
Deferred revenue (47,824 ) (28,277 )
Accounts payable, accrued liabilities and other   (48,603 )   (30,904 )
Total adjustments   (10,616 )   221,533  
Net cash provided by operating activities   9,017     35,838  
 
Cash flows used for investing activities:
Capital expenditures (24,990 ) (46,902 )
Cash funded to and dividends received from equity investee and other   (2,499 )   (1,349 )
Net cash used for investing activities   (27,489 )   (48,251 )
 
Cash flows used for financing activities:
Proceeds from borrowings on credit facilities 69,500 221,355
Payments on borrowings on credit facilities (39,799 ) (271,802 )
Proceeds from borrowings on term loan - 100,000
Payments on borrowings on term loan (5,000 ) (42,500 )
Repurchase of common stock (60,782 ) (65,611 )
Tax withholdings related to net share settlements of restricted stock awards and units (5,914 ) (8,030 )
Excess income tax benefit from equity compensation plans 4,014 -
Proceeds from the exercise of employee stock options   -     23  
Net cash used for financing activities   (37,981 )   (66,565 )
 
Effects of exchange rates on cash   (4,787 )   3,764  
 
Net decrease in cash and cash equivalents (61,240 ) (75,214 )
Cash and cash equivalents, beginning of period   148,185     250,317  
Cash and cash equivalents, end of period $ 86,945   $ 175,103  
 
Free cash flow:
 
Net cash provided by operating activities $ 9,017 $ 35,838
Less: Capital expenditures   (24,990 )   (46,902 )
Free cash flow $ (15,973 ) $ (11,064 )
 
MONSTER WORLDWIDE, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
   
Assets: September 30, 2013 December 31, 2012
 
Cash and cash equivalents $ 86,945 $ 148,185
Accounts receivable, net 298,823 335,905
Property and equipment, net 128,409 147,613
Goodwill and intangibles, net 915,842 919,854
Other assets 113,911 111,606
Current assets of discontinued operations   -   21,702
Total Assets $ 1,543,930 $ 1,684,865
 
Liabilities and Stockholders' Equity:
 
Accounts payable, accrued expenses and other current liabilities $ 151,778 $ 181,914
Deferred revenue 315,645 351,546
Current portion of long-term debt and borrowings on credit facilities 8,750 18,264
Long-term income taxes payable 51,298 63,465
Long-term debt, less current portion 180,200 145,975
Other long-term liabilities 5,752 10,406
Current liabilities of discontinued operations   2,137   33,256
Total Liabilities $ 715,560 $ 804,826
 
Stockholders' Equity 828,370 880,039
     
Total Liabilities and Stockholders' Equity $ 1,543,930 $ 1,684,865
 
MONSTER WORLDWIDE, INC.
UNAUDITED NON-GAAP STATEMENTS OF OPERATIONS AND RECONCILIATIONS
(in thousands, except per share amounts)
         
Three Months Ended September 30, 2013 Three Months Ended September 30, 2012
As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

 
Revenue $ 196,817   $ -   $ 196,817   $ 220,821   $ -   $ 220,821  
 
Salaries and related 92,931 - 92,931 98,780 - 98,780
Office and general 51,542 - 51,542 60,651 (1,483 ) a 59,168
Marketing and promotion 38,089 - 38,089 43,099 - 43,099
Restructuring and other special charges   -     -     -     244     (244 ) b   -  
Total operating expenses   182,562     -     182,562     202,774     (1,727 )   201,047  
Operating income 14,255 - 14,255 18,047 1,727 19,774
Operating margin 7.2 % 7.2 % 8.2 % 9.0 %
 
Interest and other, net   (1,482 )   -     (1,482 )   (1,532 )   -     (1,532 )
 
Income before income taxes and loss in equity interests 12,773 - 12,773 16,515 1,727 18,242
 
Provision for (benefit from) income taxes 4,480 - 4,480 (24,871 ) 31,168 d,e 6,297
Loss in equity interests, net   (119 )   -     (119 )   (271 )   -     (271 )
Income from continuing operations   8,174     -     8,174     41,115     (29,441 )   11,674  
 
Income (loss) from discontinued operations, net of tax 3,095 (3,095 ) g - (235,354 ) 235,354 g -
           
Net income (loss) $ 11,269   $ (3,095 ) $ 8,174   $ (194,239 ) $ 205,913   $ 11,674  
 
Diluted earnings (loss) per share:*
Income from continuing operations $ 0.08 $ - $ 0.08 $ 0.37 $ (0.27 ) $ 0.10
Income (loss) from discontinued operations, net of tax   0.03     (0.03 )   -     (2.10 )   2.10     -  
Diluted earnings (loss) per share $ 0.11   $ (0.03 ) $ 0.08   $ (1.73 ) $ 1.83   $ 0.10  
 
Weighted average shares outstanding:
Basic 105,394 105,394 105,394 111,239 111,239 111,239
Diluted 105,967 105,967 105,967 112,212 112,212 112,212
 
 
Nine Months Ended September 30, 2013 Nine Months Ended September 30, 2012
As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

 
Revenue $ 608,861   $ -   $ 608,861   $ 679,148   $ -   $ 679,148  
 
Salaries and related 279,973 - 279,973 310,904 - 310,904
Office and general 154,936 (2,920 ) a 152,016 171,104 (3,312 ) a 167,792
Marketing and promotion 130,750 - 130,750 143,823 - 143,823
Restructuring and other special charges 19,995 (19,995 ) b - 25,527 (25,527 ) b -
Recovery of restitution award from former executive   -     -     -     (5,350 )   5,350   c   -  
Total operating expenses   585,654     (22,915 )   562,739     646,008     (23,489 )   622,519  
Operating income 23,207 22,915 46,122 33,140 23,489 56,629
Operating margin 3.8 % 7.6 % 4.9 % 8.3 %
 
Interest and other, net   (4,107 )   -     (4,107 )   (4,184 )   -     (4,184 )
 
Income before income taxes and loss in equity interests 19,100 22,915 42,015 28,956 23,489 52,445
 
(Benefit from) provision for income taxes (5,153 ) 19,878 d,e 14,725 (35,245 ) 52,902 d,e,f 17,657
Loss in equity interests, net   (822 )   -     (822 )   (726 )   -     (726 )
Income from continuing operations   23,431     3,037     26,468     63,475     (29,413 )   34,062  
 
Loss from discontinued operations, net of tax (3,798 ) 3,798 g - (249,170 ) 249,170 g -
           
Net income (loss) $ 19,633   $ 6,835   $ 26,468   $ (185,695 ) $ 219,757   $ 34,062  
 
Diluted earnings (loss) per share:*
Income from continuing operations $ 0.21 $ 0.03 $ 0.24 $ 0.55 $ (0.26 ) $ 0.30
Loss from discontinued operations, net of tax   (0.03 )   0.03     -     (2.17 )   2.17     -  
Diluted earnings (loss) per share $ 0.18   $ 0.06   $ 0.24   $ (1.62 ) $ 1.92   $ 0.30  
 
Weighted average shares outstanding:
Basic 109,221 109,221 109,221 113,460 113,460 113,460
Diluted 110,247 110,247 110,247 114,622 114,622 114,622
 

Note Regarding Non GAAP Adjustments:

  The financial information included herein contains certain non-GAAP financial measures. This information is not intended to be used in place of the financial information prepared and presented in accordance with GAAP, nor is it intended to be considered in isolation. We believe that the above presentation of non-GAAP measures provide useful information to management and investors regarding certain core operating and business trends relating to our results of operations, exclusive of certain restructuring related and other special charges.
 
  Non GAAP adjustments consist of the following:
 
a Costs directly associated with our previously announced review of strategic alternatives.
 
b Restructuring related charges pertaining to the strategic actions that the Company announced in January and November 2012. These charges include costs related to the reduction in the Company’s workforce, fixed asset write-offs, costs relating to the consolidation of certain office facilities, and professional fees.
 
c Restitution award paid by a former executive to the United States government in connection with the Company's historical stock option practices.
 
d Non-GAAP income tax adjustment includes the reversal of income tax reserves inclusive of interest due to uncertain tax positions.
 
e Income tax adjustment is calculated using the effective tax rate of the reported period multiplied by the Non GAAP adjustment to income (loss) before income taxes and loss in equity interests.
 
f Non-GAAP adjustment includes a tax benefit due to certain losses arising from the company's restructuring.
 
g Discontinued operations related to our sale of ChinaHR and the exit of our businesses in Latin America and Turkey.
 
*Earnings per share may not add in certain periods due to rounding.
 
MONSTER WORLDWIDE, INC.
UNAUDITED NON-GAAP OPERATING SEGMENT INFORMATION
(in thousands)
         
Three Months Ended September 30, 2013

Careers -
North America

Careers -
International

Internet
Advertising &
Fees

Corporate
Expenses

Total
       
Revenue - GAAP $ 109,622   $ 69,115   $ 18,080   $ 196,817  
 
Operating income (loss) - GAAP $ 16,346 $ (325 ) $ 5,902 $ (7,668 ) $ 14,255
Non GAAP Adjustments   -     -     -     -     -  
Operating income (loss) - Non GAAP $ 16,346   $ (325 ) $ 5,902   $ (7,668 ) $ 14,255  
 
EBITDA - GAAP $ 25,542 $ 6,953 $ 7,429 $ (6,223 ) $ 33,701
Non GAAP Adjustments   -     -     -     -     -  
EBITDA - Non GAAP $ 25,542   $ 6,953   $ 7,429   $ (6,223 ) $ 33,701  
 
Operating margin - GAAP 14.9 % -0.5 % 32.6 % 7.2 %
Operating margin - Non GAAP 14.9 % -0.5 % 32.6 % 7.2 %
 
EBITDA margin - GAAP 23.3 % 10.1 % 41.1 % 17.1 %
EBITDA margin - Non GAAP 23.3 % 10.1 % 41.1 % 17.1 %
 
Three Months Ended September 30, 2012

Careers -
North America

Careers -
International

Internet
Advertising &
Fees

Corporate
Expenses

Total
       
Revenue - GAAP $ 115,455   $ 86,562   $ 18,804   $ 220,821  
 
Operating income (loss) - GAAP $ 17,169 $ 7,543 $ 4,990 $ (11,655 ) $ 18,047
Non GAAP Adjustments   (116 )   569     9     1,265     1,727  
Operating income (loss) - Non GAAP $ 17,053   $ 8,112   $ 4,999   $ (10,390 ) $ 19,774  
 
EBITDA - GAAP $ 26,887 $ 13,877 $ 6,990 $ (7,948 ) $ 39,806
Non GAAP Adjustments   (116 )   569     9     1,265     1,727  
EBITDA - Non GAAP $ 26,771   $ 14,446   $ 6,999   $ (6,683 ) $ 41,533  
 
Operating margin - GAAP 14.9 % 8.7 % 26.5 % 8.2 %
Operating margin - Non GAAP 14.8 % 9.4 % 26.6 % 9.0 %
 
EBITDA margin - GAAP 23.3 % 16.0 % 37.2 % 18.0 %
EBITDA margin - Non GAAP 23.2 % 16.7 % 37.2 % 18.8 %
 
Nine Months Ended September 30, 2013

Careers -
North America

Careers -
International

Internet
Advertising &
Fees

Corporate
Expenses

Total
       
Revenue - GAAP $ 335,274   $ 218,936   $ 54,651   $ 608,861  
 
Operating income (loss) - GAAP $ 48,041 $ (15,370 ) $ 18,476 $ (27,940 ) $ 23,207
Non GAAP Adjustments   9,537     7,866     341     5,171     22,915  
Operating income (loss) - Non GAAP $ 57,578   $ (7,504 ) $ 18,817   $ (22,769 ) $ 46,122  
 
EBITDA - GAAP $ 80,165 $ 8,830 $ 23,196 $ (20,130 ) $ 92,061
Non GAAP Adjustments   7,543     6,481     341     3,238     17,603  
EBITDA - Non GAAP $ 87,708   $ 15,311   $ 23,537   $ (16,892 ) $ 109,664  
 
Operating margin - GAAP 14.3 % -7.0 % 33.8 % 3.8 %
Operating margin - Non GAAP 17.2 % -3.4 % 34.4 % 7.6 %
 
EBITDA margin - GAAP 23.9 % 4.0 % 42.4 % 15.1 %
EBITDA margin - Non GAAP 26.2 % 7.0 % 43.1 % 18.0 %
 
Nine Months Ended September 30, 2012

Careers -
North America

Careers -
International

Internet
Advertising &
Fees

Corporate
Expenses

Total
       
Revenue - GAAP $ 351,418   $ 270,002   $ 57,728   $ 679,148  
 
Operating income (loss) - GAAP $ 35,279 $ 16,760 $ 13,565 $ (32,464 ) $ 33,140
Non GAAP Adjustments   14,213     9,281     1,166     (1,171 )   23,489  
Operating income (loss) - Non GAAP $ 49,492   $ 26,041   $ 14,731   $ (33,635 ) $ 56,629  
 
EBITDA - GAAP $ 71,071 $ 38,217 $ 20,532 $ (21,181 ) $ 108,639
Non GAAP Adjustments   8,965     8,748     543     (1,183 )   17,073  
EBITDA - Non GAAP $ 80,036   $ 46,965   $ 21,075   $ (22,364 ) $ 125,712  
 
Operating margin - GAAP 10.0 % 6.2 % 23.5 % 4.9 %
Operating margin - Non GAAP 14.1 % 9.6 % 25.5 % 8.3 %
 
EBITDA margin - GAAP 20.2 % 14.2 % 35.6 % 16.0 %
EBITDA margin - Non GAAP 22.8 % 17.4 % 36.5 % 18.5 %
 

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Morningstar - - Monster Worldwide Reports Third Quarter 2013 Results
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

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