Monster Worldwide, Inc. (NYSE: MWW) today reported summary financial results and a GAAP to Non GAAP reconciliation schedule for the second quarter ended June 30, 2016. The Company will file full second quarter and six months financial results on Form 10-Q before today's market open, which will be available on the investor relations section of its corporate website,www.monster.com.
As separately announced today, Monster has entered into a definitive agreement under which Randstad Holding nv (AMS: RAND), through a wholly-owned subsidiary, will acquire Monster for $3.40 per share in cash, or a total purchase price of approximately $429 million (enterprise value).
Second Quarter Financial Results:
Revenue from continuing operations were $150.9 million with Careers-North America operations generating$103.7 million and Careers- International contributing $47.2 million. Total GAAP operating expenses from continuing operations were $301.5 million, including a pre-tax goodwill impairment charge of $142.0 million, and the net loss from continuing operations was $124.2 million, or $1.40 per share. Non GAAP net loss from continuing operations was $2.1 million, or $0.02 per share. Cash EBITDA was $7.0 million in the second quarter of 2016. Deferred revenue from continuing operations was $239.3 million.
Cancelling Second Quarter Conference Call:
In light of the announced agreement with Randstad, Monster has cancelled its second quarter 2016 conference call with analysts and investors previously scheduled for August 9, 2016 at 8:30 AM ET. Monster has also suspended any prior guidance provided as a result of the transaction announcement.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the Company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com® and a vast array of products and services. For more information visit http://monster.com/about.
