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) | ||||
| 2004 | 2003 | |||
| Revenue: | ||||
| Monster | $ 264.065 | $ 204.093 | ||
| Advertising & Communications | 82.997 | 73.730 | ||
| Directional Marketing | 50.054 | 57.389 | ||
| Total revenue | 397.116 | 335.212 | ||
| Operating expenses: | ||||
| Salaries and related | 185.875 | 154.145 | ||
| Office and general | 84.990 | 80.231 | ||
| Marketing and promotion | 78.507 | 66.475 | ||
| Business reorganization, spin-off and other special charges | - | 47.922 | ||
| Amortization of intangibles | 2.148 | 1.212 | ||
| Total operating expenses | 351.520 | 349.985 | ||
| Operating income (loss) | 45.596 | (14.773) | ||
| Interest and other, net | (938) | (867) | ||
| Income (loss) from continuing operations before income taxes | 44.658 | (15.640) | ||
| Income taxes | 15.644 | 2.492 | ||
| Income (loss) from continuing operations | 29.014 | (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: | ||||
| Basic | 116.479 | 111.661 | ||
| Diluted | 119.004 | 111.661 | ||
| 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 share | N/A* | $ 0,18 | ||
| Weighted average diluted shares outstanding used in calculating Non-GAAP | ||||
| income from continuing operations per share | 119.004 | 112.861 | ||
| Adjusted EBITDA: | ||||
| Net income (loss) | $ 28.645 | $ (106.219) | ||
| Interest expense, net | 359 | 369 | ||
| Income taxes | 15.644 | 2.492 | ||
| Depreciation and amortization | 17.395 | 13.026 | ||
| EBITDA | 62.043 | (90.332) | ||
| Add back: | ||||
| Loss from discontinued operations, net of tax | 369 | 88.087 | ||
| Business reorganization, spin-off and other special charges | - | 47.922 | ||
| Adjusted EBITDA | $ 62.412 | $ 45.677 | ||
| * - Not applicable | ||||
Media: David Rosa,
212-351-7067