Monster Worldwide (MWW) reported revenues of $270 million, up 25% year over year and up 3.5% sequentially. Currency translation had an $11 million positive impact on revenue in the first quarter.
Bookings (represent the dollar value of contractual orders received, and are considered a key indicator of future revenues) increased 26% to $262 million year over year.
Careers revenue came in at $236 million, up 28% year over year. North America generated revenues of $123 million, up 26% year over year and flat year over year. Careers-International revenue increased 31% to $113 million. Internet Advertising & Fees revenue of $34 million was up 8% year over year.
Monster reported a net income of $10.9 million or $0.09 per diluted share compared to a net loss of $0.3 million or $0.02 per diluted share in the year-ago quarter and a net income of $0.1 million or break-even earnings in the previous quarter. The reported net income per share beat the Zacks Consensus Estimate by a penny.
Monster generated $28.1 million of cash from operations and used $16.3 million in capital expenditures. Monster ended the cash and equivalents of $199.0 million, up from $191.0 million at the end of the previous quarter. As of June 30, 2011, deferred revenue was $382.8 million, down from $399.1 million at the end of the previous quarter.
Guidance: Going forward, Monster expects bookings to grow in the range of 20% and 25% to $1,162 – $ 1,212 million in 2011. Revenues are projected between $1,074 and $1,120 million in 2011, up 20% – 25% year over year. Earnings per share are forecasted in the range $0.40 to $0.48.
For the third quarter, Monster expects bookings between $266 million and $276 million, up 20% – 25% year over year. Revenues are projected between $260 million and $270 million, up 20% – 25% year over year. Earnings per share are forecasted in the range of $0.10 and $0.14.
Investors were not impressed with the results. Shares fell 9.21% to close at $11.93.
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