Dice Holdings Revenues Down by a Third

Dice Holdings Inc, parent company of US based technology and engineering jobs portal dice.com, has announced its financial results for the third quarter of 2009. Its revenues declined to US$26.7 million – 33 percent less than the third quarter of 2008.

Dice Holdings states the drop is due to a significant decline in recruitment activity impacting both dice.com and efinancialcareers.com, another of Dice Holdings’ specialist job websites that operates across 22 countries. Dice Holdings also runs clearancejobs.com, allhealthcarejobs.com, jobsinthemoney.com and targetedjobfairs.com.

While its revenues were down, Dice Holdings also registered a $7.8 million cut in operating expenses, which the company says is primarily due to reduced expenses in sales and marketing.

Dice Holdings’ operating income came to $5.9 million for the third quarter, versus $11 million in the third quarter of 2008. Net income came to $3 million, or $0.05 earnings per diluted share.

Scot Melland, Dice Holdings’ chairman, president and chief executive officer, had this to say about the results:

“The tone of our customer conversations improved during the third quarter as some customers and prospects became more optimistic about the business climate. This mild improvement is not consistent across geographies or customer segments, but, it is encouraging.

We continue to believe that improvement in the labour markets will lag any improvements in the overall economy. Regardless, we are confident that our specialty focus gives us an edge in our markets.”

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