slid 5% Tuesday after the big online job and ad firm trimmed second-quarter guidance.
The New York-based company also hit first-quarter earnings targets and said it would put its so-called directional marketing arm on the block. The directional marketing unit focuses on search-engine and Yellow Pages advertising.
"Given our corporate strategy of focusing our energy and resources on growing the Monster franchise across key local, national and global markets, we believe it is an appropriate time to evaluate strategic alternatives for our Directional Marketing business, while considering what's in the best interests of our shareholders and other stakeholders," said CEO Andrew McKelvey.
For its quarter ended March 31, Monster posted earnings from continuing operations of $20.6 million, or 18 cents a share, up from the year-ago $13 million, or 11 cents a share. Revenue rose to $247 million from $182 million a year earlier.
Monster guided to second-quarter earnings of 19 cents to 20 cents a share on revenue of $253 million. Those figures are at the low end of Wall Street's expectations, which call for a 20-cent profit on sales of $256 million.
The company maintained 2005 guidance of 88 cents a share on revenue of $1.04 billion, though.
Monster slipped $1.16 Tuesday to $24.79.