O-STA

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

MONSTER WORLDWIDE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the Six Months Ended June 30,
(in thousands, except per share amounts)
(unaudited)
20042003
Revenue:
Monster$ 264.065$ 204.093
Advertising & Communications82.99773.730
Directional Marketing50.05457.389
Total revenue397.116335.212
Operating expenses:
Salaries and related185.875154.145
Office and general84.99080.231
Marketing and promotion78.50766.475
Business reorganization, spin-off and other special charges-47.922
Amortization of intangibles2.1481.212
Total operating expenses351.520349.985
Operating income (loss)45.596(14.773)
Interest and other, net(938)(867)
Income (loss) from continuing operations before income taxes44.658(15.640)
Income taxes15.6442.492
Income (loss) from continuing operations29.014(18.132)
Loss from discontinued operations, net of tax(369)(88.087)
Net income (loss)$ 28.645$ (106.219)
Basic earnings (loss) per share:
Income (loss) per share from continuing operations$ 0,25$ (0,16)
Loss per share from discontinued operations, net of tax-(0,79)
Basic earnings (loss) per share$ 0,25$ (0,95)
Diluted earnings (loss) per share:
Income (loss) per share from continuing operations$ 0,24$ (0,16)
Loss per share from discontinued operations, net of tax-(0,79)
Diluted earnings (loss) per share$ 0,24$ (0,95)
Weighted average shares outstanding:
Basic116.479111.661
Diluted119.004111.661
Reconciliation of income (loss) from continuing operations to
non-GAAP income from continuing operations:
Income (loss) from continuing operations before accounting change$ 29.014$ (18.132)
Business reorganization, spin off and other special charges-47.922
Tax benefit on merger, integration, business reorganization, spin-off and other special charges-(9.346)
Non-GAAP income from continuing operations*N/A*$ 20.444
Non-GAAP diluted income from continuing operations per share
Income (loss) from continuing operations per share before accounting change$ 0,24$ (0,16)
Business reorganization, spin off and other special charges per share-0,42
Tax benefit per share on business reorganization, spin-off and other special charges-(0,08)
Non-GAAP diluted income from continuing operations per shareN/A*$ 0,18
Weighted average diluted shares outstanding used in calculating Non-GAAP
income from continuing operations per share119.004112.861
Adjusted EBITDA:
Net income (loss)$ 28.645$ (106.219)
Interest expense, net359369
Income taxes15.6442.492
Depreciation and amortization17.39513.026
EBITDA62.043(90.332)
Add back:
Loss from discontinued operations, net of tax36988.087
Business reorganization, spin-off and other special charges-47.922
Adjusted EBITDA$ 62.412$ 45.677
* - Not applicable

Media: David Rosa,

212-351-7067

david.rosa@monsterworldwide.com