posted a solid second quarter and guided to in line third-quarter numbers.
For its second quarter ended June 30, the New York online jobs company earned $25.6 million, or 21 cents a share, from continuing operations. That's up from the year-ago $16.2 million, or 12 cents a share. Revenue rose 32% from a year ago to $239 million.
The company said Monster division revenue rose 40% from a year ago to $198 million, while advertising and communications revenue inched up 4% to $41 million. The company sold its directional marketing segment in the second quarter, and those results were classified as discontinued operations.
Organic revenue growth was 26% for the company and 34% for the Monster division, and cash from operating activities tripled to $52.9 million.
"We are extremely pleased with our revenue and earnings growth as well as margin expansion in the second quarter and are determined to carry the strong momentum of the first six months of the year into the remainder of 2005," said CEO Andrew J. McKelvey. "The second quarter results reflect the execution of our sales strategy to grow Monster's penetration of enterprise businesses while also broadening our coverage of the promising small and medium size markets. In addition, the recent sale of our Yellow Pages division has enabled us to further concentrate our resources on extending Monster's domestic leadership position and expanding our global footprint to continue capitalizing on the significant revenue opportunities in foreign markets."
The company also offered second half guidance that was mostly in line with Wall Street's estimates. Monster forecast third-quarter earnings of 23-24 cents a share on revenue of $243 million or so, and full year earnings of 88-91 cents a share on revenue in the range of $975 million. Analysts were expecting a 2005 profit of 88 cents on revenue of right around $1 billion.
Early Wednesday, Monster was at $28.45.