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Dice Holdings Inc. Reports Operating Results (10-Q)

October 26, 2012 | About:
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10qk

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Dice Holdings Inc. (DHX) filed Quarterly Report for the period ended 2012-09-30.

Dice Holdings Incorporated has a market cap of $528.1 million; its shares were traded at around $8.89 with a P/E ratio of 15.5 and P/S ratio of 3. Dice Holdings Incorporated had an annual average earning growth of 0.8% over the past 5 years.
This is the annual revenues and earnings per share of DHX over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of DHX.


Highlight of Business Operations:

We experienced an increase in the Tech & Clearance segment of $3.0 million, or 10.0%. The increase was partially a result of our recruitment package customers increasing from approximately 8,250 at September 30, 2011 to approximately 8,650 at September 30, 2012. In addition, our customers' usage of our websites increased, as demonstrated through an increase in average monthly revenue per recruitment package customer of approximately 4% from the three month period ended September 30, 2011 to the three month period ended September 30, 2012. Customer yield on annual contracts at Dice.com has continued to increase, reaching record revenue per customer in the current period. Revenues increased at ClearanceJobs by $269,000 for the three month period ended September 30, 2012 as compared to the same period in 2011, an increase of nearly 12%. From September 30, 2011 to September 30, 2012, ClearanceJobs increased its customers served by approximately 5%. Revenues increased by $761,000 due to the acquisition of Geeknet Media on September 17, 2012 for the three and nine month periods ended September 30, 2012.

The Finance segment experienced a decline in revenue of $2.4 million, or 20.1%. The decrease was the result of continued declines in recruitment activity, beginning in the second half of 2011, primarily due to the global economic slowdown including the European debt crisis and United Kingdom recession causing companies to slow hiring, decreasing demand for our product. Currency impact for the three month period ended September 30, 2012 was a decrease to revenue of approximately $150,000. In originating currency, revenue decreased 42% in Continental Europe, 20% in the UK, 7% in the Asia Pacific region, and increased 4% in North America. The increase in the North America region was due to additional revenue from the FINS.com acquisition.

Our cost of revenues for the three month period ended September 30, 2012 was $3.6 million compared to $3.3 million for the same period in 2011, an increase of $270,000, or 8.1%. The Tech & Clearance segment experienced an increase of $383,000 due to our investment in planning for an integrated enterprise platform including the related personnel and consulting services to drive this initiative. The increase was also due to the acquisition of Geeknet Media, partially offset by a decrease in expense for sales tax liabilities. The Finance segment experienced an increase of $91,000, primarily due to increased site hosting costs for the FINS.com site. The Other segment experienced an increase in cost of revenues of $61,000 compared to same period in 2011.

Sales and marketing expenses for the three month period ended September 30, 2012 were $16.2 million compared to $14.9 million for the same period in 2011, an increase of $1.3 million or 8.7%. The Tech & Clearance segment experienced an increase in sales and marketing of $872,000 compared to the same period in 2011 to $9.8 million. The increase is primarily related to an increase in advertising and other marketing costs, due to increased spend for our online advertising, email and social network campaigns, as well as various advertising programs focused on specific geographical markets. To increase usage of our sites by customers and professionals we use marketing and continue to improve product features and functionality.

The Finance segment experienced a decline in revenue of $4.7 million, or 13.9%. The decrease was the result of a continued decline in recruitment activity that began in the second half of 2011, primarily due to the European debt crisis and United Kingdom recession causing companies to slow hiring, decreasing the demand for our product. Currency impact for the nine month period ended September 30, 2012 was a decrease to revenue of approximately $580,000. In originating currency, revenue decreased 25% in Continental Europe, 12% in the UK, 8% in North America, and 5% in the Asia Pacific region.

Read the The complete Report

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