HotJobs.com ( HOTJ) narrowly beat Wall Street's earnings estimates for the fourth quarter, but the job-hunting Web site expects to significantly cut its losses for 2001.
The company posted a loss of 19 cents a share for the quarter, excluding noncash compensation charges and the amortization of goodwill. Eight analysts polled by First Call/Thomson Financial were calling for the company to lose 20 cents in the quarter. The company lost 15 cents in the year-ago period, and 21 cents in the latest third quarter. Revenue rose to $31.5 million from $8.6 million in the same period last year. The top line rose 9.3% sequentially. Shares of HotJobs.com gained 22 cents, or 2.7%, to $8.47 in recent Nasdaq trading. The company also said "we are on target for HotJobs to achieve profitability no later than the fourth quarter of 2001." For the full year, HotJobs.com projected a loss of 35 cents a share, before noncash compensation and goodwill. The company lost 98 cents in 2000. Analysts are calling for a loss of 39 cents for the year. Revenue should total $145 million to $150 million, the company said.