Monster Worldwide Inc., which owns the online job search site Monster.com, on Thursday reported a wider first-quarter loss as revenue tumbled amid a tight job market.
For the three months ended March 31, the company lost $24.2 million, or 20 cents per share. That compared with a loss of $10.3 million, or 9 cents per share, in the year-ago period.
Not including one-time expenses, such as severance costs and transaction charges related to its proposed acquisition of Yahoo! HotJobs, the company lost $17 million, or 14 cents per share.
By that measure, analysts surveyed by Thomson Reuters on average expected a loss of 16 cents per share.
Shares of Monster slipped 11 cents to $17.69 in after-hours trading, after gaining 54 cents to $17.89 during the regular session.
For the quarter, Monster said revenue was down 16 percent to $215.3 million, from $254.4 million in the first quarter of last year.
Revenue from North America fell 19 percent to $97 million, from $119.2 million the same period in 2009. International revenue fell 17 percent to $85.6 million, from $103.7 million.
Revenue from Internet advertising and fees rose slightly to $32.7 million, from $31.6 million.
April 29, 2010
source: businessweek.com