Monster Worldwide Posts Seven Percent Revenue Dip

May 11, 2015 – Moster Worldwide, Inc./(NYSE:MWW) has posted revenues of $184 million for the first quarter ended March 31, 2015, a decline of seven percent from revenues of $194 million in the comparable quarter of 2014. Revenue from the company's Careers – North America operations decreased four percent year-over-year and revenue from Careers – International decreased 13 percent year-over-year and one percent on a constant currency basis. Non-GAAP net income attributable to the company was $7 million, or $0.08 per share, compared to $7 million, or $0.08 per share in the first quarter of 2014.

In February, Monster committed to implement a series of cost savings initiatives to reduce costs. The initiatives include a global workforce reduction of approximately 300 associates, lease exit costs, impairment of certain assets, and office and general expense controls.

"Our first quarter profitability, cash flow and leverage metrics all exceeded our expectations," said Tim Yates, president and chief executive officer.

"The bookings momentum we saw in our core North American Careers segment continued from previous quarters with six percent year-over-year growth. While we are pleased with the recent bookings trends, and expect them to continue, revenue growth and sales execution continues to be a primary focus."

Share This Article

RECOMMENDED ARTICLES

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz