Dice Holdings Inc. (DHX, Financial) filed Quarterly Report for the period ended 2010-06-30.
Dice Holdings Inc. has a market cap of $493.1 million; its shares were traded at around $7.86 with a P/E ratio of 39.3 and P/S ratio of 4.5. DHX is in the portfolios of Pioneer Investments, Jim Simons of Renaissance Technologies LLC.
We experienced an increase in the eFinancialCareers segment revenues of $1.3 million, or 23%. The increase is the result of an increase in recruitment activity in all of the markets we serve, partially offset by the weakening of the pound sterling versus the U.S. dollar in comparing the three months ended June 30, 2010 with the same period in 2009. Revenue related to increased recruitment activity was $1.5 million. The offsetting decrease in revenue due to the unfavorable effect of foreign exchange rates was $246,000. Similar to in the United States, we have continued to see an improvement in recruitment activity, particularly in the United Kingdom and Asia. Revenue from our United Kingdom market measured in pound sterling increased 23% during the three months ended June 30, 2010 compared to the prior year period. Similarly, revenue from our Asia market measured in Singapore dollars increased 76% year over year.
Revenues from the Other segment, which consists of eFinancialCareers North America operations, Targeted Job Fairs, JobsintheMoney.com, AllHealthcareJobs (beginning June 2009) and WorldwideWorker (beginning May 2010), increased $404,000, or 28%. Our two recent acquisitions, AllHealthcareJobs and WorldwideWorker, combined for revenue of $442,000. eFinancialCareers North America operations grew 12% compared to the prior year period. Revenue from JobsintheMoney.com declined by $168,000 as revenue during the current year period was minimal. The operations of JobsintheMoney.com have been shut down as of June 30, 2010.
Our cost of revenues for the three months ended June 30, 2010 were $2.2 million compared to $1.8 million for the same period in 2009, an increase of $370,000, or 20%. The increase in cost of revenues experienced at DCS Online of $440,000 was primarily due to an increase in subscription and maintenance contracts and due to the number of network services personnel we employed to support our websites. Cost of revenues at eFinancialCareers increased by $69,000 primarily due to an increase in the number of customer support and network services personnel. These increases were partially offset by a decrease of $150,000 in the Other segment primarily due to a decrease in the number of job fairs conducted.
Product development expenses for the three months ended June 30, 2010 were $1.4 million compared to $961,000 for the same period of 2009, an increase of $471,000, or 49%. Product development expenses increased by $340,000 for the U.S. businesses, due to costs incurred related to adding features and functionality on the Dice and ClearanceJobs sites, a redesign of the AllHealthcareJobs site and due to costs related to building the editorial and community aspects of the websites. Product development expenses increased at eFinancialCareers by $126,000 due primarily to an increase in salaries and benefit costs for the product development team.
Sales and marketing expenses for the three months ended June 30, 2010 were $11.1 million compared to $8.5 million for the same period in 2009, an increase of $2.6 million, or 31%. Of the increase, $2.0 million is related to the U.S. businesses. An increase of $530,000 relates to the eFinancialCareers segment.
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Dice Holdings Inc. has a market cap of $493.1 million; its shares were traded at around $7.86 with a P/E ratio of 39.3 and P/S ratio of 4.5. DHX is in the portfolios of Pioneer Investments, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Our revenues were $29.9 million for the three months ended June 30, 2010 compared to $27.0 million for the same period in 2009, an increase of $2.9 million, or 11%. The increase in revenues is a result of increased recruitment activity during late 2009 into 2010, which impacted customer usage of our primary services.We experienced an increase in the eFinancialCareers segment revenues of $1.3 million, or 23%. The increase is the result of an increase in recruitment activity in all of the markets we serve, partially offset by the weakening of the pound sterling versus the U.S. dollar in comparing the three months ended June 30, 2010 with the same period in 2009. Revenue related to increased recruitment activity was $1.5 million. The offsetting decrease in revenue due to the unfavorable effect of foreign exchange rates was $246,000. Similar to in the United States, we have continued to see an improvement in recruitment activity, particularly in the United Kingdom and Asia. Revenue from our United Kingdom market measured in pound sterling increased 23% during the three months ended June 30, 2010 compared to the prior year period. Similarly, revenue from our Asia market measured in Singapore dollars increased 76% year over year.
Revenues from the Other segment, which consists of eFinancialCareers North America operations, Targeted Job Fairs, JobsintheMoney.com, AllHealthcareJobs (beginning June 2009) and WorldwideWorker (beginning May 2010), increased $404,000, or 28%. Our two recent acquisitions, AllHealthcareJobs and WorldwideWorker, combined for revenue of $442,000. eFinancialCareers North America operations grew 12% compared to the prior year period. Revenue from JobsintheMoney.com declined by $168,000 as revenue during the current year period was minimal. The operations of JobsintheMoney.com have been shut down as of June 30, 2010.
Our cost of revenues for the three months ended June 30, 2010 were $2.2 million compared to $1.8 million for the same period in 2009, an increase of $370,000, or 20%. The increase in cost of revenues experienced at DCS Online of $440,000 was primarily due to an increase in subscription and maintenance contracts and due to the number of network services personnel we employed to support our websites. Cost of revenues at eFinancialCareers increased by $69,000 primarily due to an increase in the number of customer support and network services personnel. These increases were partially offset by a decrease of $150,000 in the Other segment primarily due to a decrease in the number of job fairs conducted.
Product development expenses for the three months ended June 30, 2010 were $1.4 million compared to $961,000 for the same period of 2009, an increase of $471,000, or 49%. Product development expenses increased by $340,000 for the U.S. businesses, due to costs incurred related to adding features and functionality on the Dice and ClearanceJobs sites, a redesign of the AllHealthcareJobs site and due to costs related to building the editorial and community aspects of the websites. Product development expenses increased at eFinancialCareers by $126,000 due primarily to an increase in salaries and benefit costs for the product development team.
Sales and marketing expenses for the three months ended June 30, 2010 were $11.1 million compared to $8.5 million for the same period in 2009, an increase of $2.6 million, or 31%. Of the increase, $2.0 million is related to the U.S. businesses. An increase of $530,000 relates to the eFinancialCareers segment.
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