This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Monster Worldwide's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Bookings in Europe were up 13%, excluding the DWP that was down 16%. Economic indicators in Europe throughout the quarter were weaker than was generally forecasted. Euro area unemployment was an all-time high. According to Eurostat, and it is widely believed that many countries within Europe sank set into recession. We believe that the decline in Monsters' European bookings reflected this economic uncertainty and does not reflect a competitive concern.

Bookings in Asia-Pac were flat year-over-year despite the general cooling of Asian economy. While bookings of our Korean business declined 3%, the business continues to be extremely profitable and is well positioned to retain its growth, when the Korean economy picks up. Bookings in China increased by 4% and India, 2%.

Consolidated revenue was down 3%. EPS was $0.04 versus our guidance of $0.00 to $0.04. During the first quarter, we largely completed our restructuring, and as anticipated, began the redeployment of expense dollars into marketing. During the quarter, we purchased 4.4 million shares at an average cost of $7.58, deploying $33 million.

As I mentioned at the recent Baird conference, and as many of you are able to observe, at our recent Innovation Day, we are very focused on bringing our new products to our customers on a global basis. We are aggressively pursuing market share gains in all of our key markets and are supporting this asset with increased B2B marketing dollars.

Client interest in 6Sense technology, PRS and SeeMore continues to increase. A number of our current government contracts, including DWP, ohiomeansjobs and V Aid for vets [ph] have PRS and SeeMore embedded in the solution. And the 6Sense functionality was a critical ingredient in securing those transactions. In addition, our enterprise pipeline has essentially doubled during the quarter and interest within our Staffing vertical, in particular, have significantly increased.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs