Dice Posts Four Percent Revenue Decline; Looks to Europe for Growth
November 11, 2015 – Dice Holdings, Inc./(NYSE:DHX) posted revenues of $65.1 million, a decrease of four percent from $67.6 million in the comparable quarter of 2014. This was due primarily to revenues from businesses acquired over the past year, which contributed $13.2 million of growth in the quarter.
The company’s net income for the quarter totaled $6.5 million, or 12 cents per share, compared to earnings of $9.5 million, or per share of 18 cents per share, a year ago. The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
“Our third quarter results reflect the progress we are making on our path of innovation, integration and evolution, and we are confident our approach is helping us expand our market opportunity and strengthen our vertical leadership positioning,” said Michael Durney, president and chief executive officer.
“As we continue to enhance our product portfolio, we are seeing increased engagement with our customers, who are looking to expand the ways in which they find and interact with professionals,” he said. “With a great deal of the integration and positioning work related to our recent acquisitions now complete, we are better positioned than ever before to leverage capabilities across our business and drive growth long-term.”
One of the new technologies Dice implemented during the quarter was the launch of Open Web, which gives customers the ability to narrow candidate searches based on the likelihood of candidates to change professional positions.
The New York-based company also expanded the market opportunity in its healthcare service, Health eCareers, through the full commercial launch of its latest product, SHIFT, which addresses the need for temporary help in the healthcare industry. The tool enables employers to quickly find and hire experienced professionals for locum tenens, travel nursing, per diem and other temporary positions.
Dice has also expanded the offerings of its service into the U.K. and Continental Europe through the rebranding of its European tech career service, The IT Job Board.
For the current quarter ending in December, Dice Holdings said it expects revenue in the range of $61.5 million to $62.5 million. The company’s shares have fallen 21 percent since the beginning of the year. The stock has fallen roughly six percent in the last 12 months.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media
