Monster Posts 10 Percent Revenue Decline

February 7, 2013 – Monster Worldwide, Inc./(NYSE:MWW) has posted revenues of $211.2 million for the fourth quarter, a 10 percent drop compared with $250 million in the comparable quarter last year. The company reported a net loss of $73 million, or 66 cents per share, in the fourth quarter, compared with a profit of $10.9 million, or nine cents per share, a year earlier. The year over year decline in total bookings is primarily attributable to continued weakness in Europe, which has been negatively impacted by global economic challenges, partially offset by strength in North America’s e-commerce, staffing and newspaper channels. Monster reported total revenue from continuing operations of $890 million for the full year, compared to $994 million in the same period last year, which included $22 million from IAF’s arbitrage lead generation business and a $2.7 million purchase accounting adjustment related to the HotJobs acquisition. Sal Iannuzzi, chairman, president and CEO of Monster Worldwide, said: “During the fourth quarter, we implemented a series of actions designed to improve profitability and cash flow, consistent with our previously announced restructuring. As a leaner, more focused company, we are concentrating our resources on our core markets and are aggressively taking the steps necessary to strengthen our business. Our advanced product offerings, robust government business and a leading traffic position provide a solid foundation for future growth as the global economy recovers.”