Thursday, Dice Holdings, Inc. (DHX), a provider of career websites for professional communities, reported a decline in profit for the second quarter, reflecting a 33% decline in revenues due mainly to reduced recruitment activity amidst global recession.
Net income for the second quarter decreased to $7.55 million or $0.04 per share from $7.55 million or $0.12 per share in the previous year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings or $0.04 per share for the second quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined 33% to $27.01 million from $40.28 million last year, as a result of a significant decline in recruitment activity which impacted both Dice.com and eFinancialCareers. Currency translation from pound sterling to U.S. dollars negatively impacted revenues by $1.5 million or 4% from the same quarter in 2008.
Eight analysts had a consensus revenue estimate of $26.98 million for the company.
Segment wise, DCS Online revenues were $20.1 million, representing a 27% decrease from the comparable 2008 quarter. The decline was a result of fewer Dice.com recruitment package customers and a decrease in the average monthly revenue generated.
Revenues from eFinancialCareers segment, which consists of eFinancialCareers operations outside of North America, declined 45% to $5.5 million. The decline of $1.5 million was the result of an unfavorable currency translation from pound sterling to U.S. dollars.
Other revenues, which include the eFinancialCareers operations in North America, AllHealthcareJobs, JobsintheMoney and Targeted Job Fairs, decreased 51% to $1.4 million for the quarter ended June 30, 2009.
Operating expenses declined 29% to $21.33 millionfrom $30.11 million in the comparable quarter a year ago, including a 47% decrease in sales and marketing expense.
Adjusted earnings before interest, taxes, depreciation and amortization for the second quarter was $12.25 million or 45% of revenues, compared to $16.80 million last year.
For the six-month period, net income was $6.63 million or $0.10 per share, compared to $11.84 million or $0.18 per share in the same quarter of the previous year. Revenues for the period declined 29% to $56.58 million from $79.85 million a year ago.
DHX is currently trading at $4.38, up 1.62% on the NYSE.
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