Dice Holdings, a provider of specialized career sites, reported that revenues for their first quarter totaled $29.6 million, a decline of 25% from $39.6 million in the first quarter of 2008, largely due to abating recruitment activity which impacted both Dice.com and eFinancialCareers.
Net income for first quarter totaled $3.9 million. Operating income decreased 26% to $7.7 million versus $10.4 million in the first quarter of 2008.
Net cash provided by operating activities was $6.8 million, compared to $23.2 million in the comparable quarter of 2008.
DCS Online revenues were $22.0 million or 74% of Dice Holdings’ consolidated revenues, representing a 19% decrease from the comparable 2008 quarter. The decrease was primarily a result of a decline in the average number of recruitment package customers served, slightly offset by a 32% year-over-year increase in revenues at ClearanceJobs.
The eFinancialCareers segment, which consists of eFinancialCareers operations outside of North America, accounted for 20% of Dice Holdings’ consolidated revenues in the first quarter of 2009. eFinancialCareers revenues declined 40% or $3.9 million to $5.9 million. Measured in pound sterling, the eFinancialCareers international business declined 17%; U.K. business decreased 28%.
The remaining businesses operated by Dice Holdings, which include the eFinancialCareers operations in North America, JobsintheMoney and Targeted Job Fairs, are reported in the Other category. Other revenue decreased 39% to $1.7 million for the quarter ended March 31, 2009. The decline was driven by significant decreases in revenue at each of the businesses.
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April 23rd, 2009 at 12:53 pm
Not good. Monster looks like it will be worse than that come next week
April 23rd, 2009 at 5:38 pm
Unlike Monster, Dice isn’t a bloated mess. They’ll come through the recession just fine. Stock went up 5% today.