Career-website service provider Dice Holdings, Inc. (DHX) reported Thursday a decrease in its first-quarter profit, reflecting a lull in recruitment activities. The company also provided guidance for second quarter and fiscal 2009.
For the first quarter, net income declined to $3.86 million, or $0.06 per share, from $4.28 million, or $0.07 per share, in the previous year.
Revenues for the quarter shrank 25% $29.6 million from $39.6 million in the same period last year, reflecting a drop in recruitment activity which impacted both Dice.com and eFinancialCareers. Currency translation from pound sterling to U.S. dollars adversely impacted revenues by $2.2 million in the period last year.
Revenue from Dice's DCS Online segment decreased 19% to $22.0 million from $27.1 million and from eFinancialCareers declined 40% to $5.9 million from $9.8 million in the year-ago period.
Total operating expenses decreased year-over-year to $21.87 million from $29.15 million, reflecting a reduction in sales and marketing costs to $9.44 million from $14.91 million.
Looking ahead, Dice expects to record net income of $2.3 million and total revenue of $27 million for the second quarter. Analysts are expecting revenues of $27.05 million for the second quarter.
For fiscal 2009, the company forecast earnings of $10.8 million, on revenue of $106 million. Analysts are looking for revenues of $108.10 million in fiscal 2009.
DHX is currently trading at $3.81, up $0.09 or 2.42%, on the NYSE.
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