Monster Worldwide Posts 33 Percent Revenue Decline
February 18, 2010 – Monster Worldwide, Inc./(NYSE:MWW) has posted revenues of $213 million for the fourth quarter ended December 31, 2009, compared with $293 million in the comparable quarter of 2008, a 27 percent decline. The company generated 42 percent of its revenue outside the U.S. and total revenue was positively impacted by approximately $8 million from foreign exchange rates. Monster posted a net loss of $2.1 million, or one cent per share, matching analysts forecasts. For the full year, Monster Worldwide reported total revenue of $905 million compared to $1.3 billion last year, a 33 percent decrease. During 2009, the company posted net income of $18.9 million, or 16 cents per share, down from $124.8 million, or $1.04 per share, a year earlier. “We ended the year with a strong sales quarter as our major geographic markets showed signs of continued stability and improvement. The proposed acquisition of HotJobs and the traffic agreement with Yahoo! will allow Monster to add relevant job seekers efficiently while significantly expanding our customer base,” said Sal Iannuzzi, chairman, president and CEO. “We are excited about our progress in building Monster as we enter 2010 and are confident we are well positioned to capture additional market share as the global economy recovers.”