NEW YORK--(BUSINESS WIRE)--Oct. 19, 2004--
2004 Third Quarter Financial Highlights
-- Total Revenue Increases 33% to $227.1 Million
-- Diluted EPS Reach $0.17, Up 55%
-- Monster Division's Revenue Increases 52% From a Year Ago and
11% Sequentially to $157.7 Million
-- Monster Division's Deferred Revenue Hits New High of $195.4
Million
-- Company Raises Fourth Quarter EPS Guidance to $0.19
Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of the
leading global online careers property, Monster(R), the world's
largest Yellow Pages advertising agency, and one of the world's
largest Recruitment Advertising agency networks, today reported
financial results for the third quarter ended September 30, 2004.
Third Quarter Results
Monster Worldwide's total revenue increased 33% to $227.1 million
in the third quarter of 2004 from $170.8 million in the comparable
quarter last year. The solid revenue growth was driven by strong
global performance at the Monster division, continued improvements in
the Company's Advertising & Communications business in North America,
peak seasonal revenues at the Directional Marketing division, and
contributions from recent acquisitions. The Monster division recorded
revenue of $157.7 million, a 52% increase over last year's third
quarter level of $103.8 million. Sequentially, the division's revenues
grew 11% over the $141.9 million reported in the second quarter of
this year. Organic revenue growth over the 2003 third quarter was 27%.
The Monster division's deferred revenue balance was a record $195.4
million, an increase over the former high of $178.9 million for this
year's second quarter. Consolidated net income for the third quarter
grew to $20.0 million, or $0.17 per diluted share, compared to $12.2
million, or $0.11 cents per diluted share in the third quarter of
2003.
Andrew McKelvey, Chairman and Chief Executive Officer of Monster
Worldwide, said "The strong momentum we established in the beginning
of the year continued in the third quarter. Monster's strong top line
performance was driven by our ability to optimize our integrated sales
strategy despite an uneven job recovery. We realized the benefits of
our investments in both our global sales force and innovative new
products for our customers. We believe we are well positioned to
continue to grow revenues and earnings in the fourth quarter."
Cash generated from operating activities was $42.1 million in the
third quarter of 2004, a $28.8 million increase over the $13.3 million
of cash from operating activities in the comparable 2003 quarter. The
Company's cash position was $117.2 million at September 30, 2004. Cash
and cash equivalents at June 2004 and December 2003 were $82.2 million
and $142.3 million, respectively. Net cash at September 30, 2004
increased to $60.2 million from the $25.4 million reported at June 30,
2004.
Nine Months Results
Monster Worldwide reported total revenue of $618.1 million for the
nine months ended September 30, 2004, compared to $499.2 million in
the comparable prior year period. Income from continuing operations
was $48.5 million, or $0.41 per diluted share, compared to a loss from
continuing operations of $6.5 million, or $0.06 per share in the prior
year period. Non-GAAP income from continuing operations was $32.1
million, or $0.28 per share for the nine months ended September 30,
2003.
Recent Developments/Operating Highlights
-- Monster Employment Index
Demand for workers and related online job recruitment activity
across the United States rose during the third quarter, according to
results of the Monster Employment Index. Overall, the Index rose to
151 in September, from 145 in August and 134 in July. The continued
upward trend for 2004 is an indication of the strong, sustained growth
of online job availability. Index results show an eight-month growth
trend in Finance & Insurance, which we believe is reflective of
increased corporate expansion. According to the Index, the healthcare
industry has had the largest number of job opportunities throughout
the year. IT-related positions have seen growth over the last three
months, jumping from 103 in June to 123 in September. Sales-related
positions have seen nine months of steady growth, rising from 83 in
December to 132 in September, which may be indicative of companies
seeking to expand. The Monster Employment Index -- a broad and
comprehensive monthly analysis of U.S. online job demand based on data
from more than 1,500 Web sites -- has become widely adopted by
government agencies and financial institutions worldwide and is often
referenced by major media outlets.
-- Monster Government Solutions Participates in Extreme Hiring
Makeover
Monster Government Solutions announced its participation in
Extreme Hiring Makeover, a program designed to streamline hiring at
three pilot Federal agencies, including the Centers for Medicare &
Medicaid Services (Department of Health and Human Services), the
National Nuclear Security Administration (Department of Energy) and
the entire Department of Education. Working in collaboration with the
Partnership for Public Service and six other private recruitment
experts, the goal of Extreme Hiring Makeover is to streamline hiring
at each of the pilot agencies and show other agencies that positive
change is possible, triggering a domino effect to improve hiring
processes throughout the federal government.
-- Monster U.S. Launches Next Phase of Brand Campaign
Monster in the United States announced the launch of the next
phase of "Portraits," a series of new commercials from its "Today's
the Day" brand campaign. The six :15 second spots feature candid
appeals from real-life job seekers in search of fulfilling work or
employers seeking qualified candidates. One television spot highlights
three-time Olympic Gold Medalist and Monster job seeker Lenny
Krayzelburg. Lenny captured three gold medals at the 2000 Olympic
Games and retired from competitive swimming after the 2004 Games. He
plans to start a career in the financial industry.
-- Republican National Convention Volunteer Drive
Monster Worldwide served as the primary recruiter for the more
than 8,000 volunteers needed at the 2004 Republican National
Convention held in New York City from August 30th through September
2nd. The Company helped the New York City Host Committee identify and
recruit volunteers by utilizing all of its resources and Web-hiring
technologies, including that of its QuickHire subsidiary, which serves
federal, state and local governments. In addition, Monster sponsored a
Web site (http://nyc2004.monster.com) that served as an online
community for the volunteers, keeping them informed and connected
throughout both the pre-Convention process and the sixteen-day
Convention deployment. This was the first ever paperless interactive,
end-to-end recruitment effort- from initial registration to final
deployment- for a U.S. political convention.
-- Monster India Launches Television and Print Advertising
Campaign
Monster India announced the launch of a new brand campaign, "Happy
Jobs." As part of its planned national marketing program, Monster
India will advertise on television and in print media; it will also
continue its online initiatives alongside other non-traditional
marketing activities. "Happy Jobs" launches the debut of a new
creative campaign. Monster India's campaign will include a continuous
TV advertising presence, which started in September and will run
through to December.
Outlook
Monster Worldwide anticipates reporting continued strong year over
year financial results in the fourth quarter of 2004. Sequentially,
the Monster division's revenues are expected to increase, while
expenses are expected to decline, leading to an expanded operating
margin at both the Monster division and Company level. As a result,
diluted earnings per share from continuing operations are expected to
be $0.19, representing a significant increase over the $0.10 diluted
earnings per share in the fourth quarter of 2003.
Conference Call Information
Third quarter 2004 results will be discussed on Monster
Worldwide's quarterly conference call taking place on October 20, 2004
at 10:00 AM EDT. To join the conference call, please dial in on
1-888-459-8438 at 9:50 AM EDT and give the operator the password
"Monster." For those outside the United States, please call in on
1-210-839-8501 and give the operator the same password. The call will
begin promptly at 10:00 AM EDT. Individuals can also access Monster
Worldwide's quarterly conference call online through the investor
information section of the Company's website at
www.monsterworldwide.com. Interactive Metrics for Monster Worldwide
and Monster are available at www.monsterworldwide.com or
www.monster.com.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of
Monster(R), the leading global online careers property. The company
also owns TMP Worldwide, the world's largest Yellow Pages advertising
agency and one of the world's largest Recruitment Advertising agency
networks. TMP Worldwide is also a provider of direct marketing
services. Headquartered in New York with approximately 5,000 employees
in 26 countries, Monster Worldwide (NASDAQ: MNST) is a member of the
S&P 500 Index. More information about Monster Worldwide is available
at www.monsterworldwide.com.
Celebrating its 10-year anniversary, Monster is the leading global
online careers property. A division of Monster Worldwide, Monster
works for everyone by connecting quality job seekers at all levels
with leading employers across all industries. Founded in 1994 and
headquartered in Maynard, Mass., Monster has 25 local language and
content sites in 23 countries worldwide. Monster is the official
online career management services sponsor of the 2004 U.S. Olympic
Team. More information is available at www.monster.com or by calling
1-800-MONSTER. To learn more about Monster's industry-leading employer
products and services, please visit http://recruiter.monster.com.
Financial Information Tables
On October 5, 2004, Monster Worldwide, Inc. entered into a Stock
Purchase Agreement with General Yellow Pages Consultants, Inc. d/b/a
The Marquette Group for the sale of US Motivation, Inc., the Company's
wholly-owned subsidiary within the Directional Marketing division. On
March 31, 2003, the Company completed the spin-off of its eResourcing
and Executive Search business units as a publicly traded company known
as Hudson Highland Group, Inc. (NASDAQ: HHGP). In August 2003, the
Company's Monster division terminated its joint venture arrangement in
Australia and New Zealand. As a result, the financial information
tables following this release present the results of US Motivation,
Hudson Highland Group, Inc. and the disposition of the terminated
joint venture as discontinued operations for all periods presented.
Monster Worldwide's 2003 financial results from continuing operations
reflect the remaining results of the Company's Monster, Advertising &
Communications, and Directional Marketing business segments.
Notes Regarding the Use of Non-GAAP Financial Measures
Monster Worldwide, Inc. (the "Company") has provided certain
non-GAAP financial information as additional information for its
operating results. These measures are not in accordance with, or an
alternative for, generally accepted accounting principles and may be
different from non-GAAP measures reported by other companies. The
Company believes that its presentation of non-GAAP measures such as
non-GAAP operating income, non-GAAP earnings per share, adjusted
EBITDA, net cash and free cash flow provide useful information to
management and investors regarding certain financial and business
trends relating to its financial condition and results of operations.
In addition, the Company's management uses these measures for
reviewing the financial results of the Company and for budget planning
purposes.
Non-GAAP operating income, income from continuing operations and
related per share information exclude business reorganization,
spin-off and other special charges and any tax benefits thereon.
Non-GAAP operating income is a measure used by the Company in
reviewing business trends and the financial results of its reportable
segments. These measures are also the primary basis upon which the
Company prepares its budgets and forecasts.
Adjusted EBITDA is one of the measures that determines the
Company's ability to borrow under its $100 million credit facility. If
the Company failed to meet the required level of adjusted EBITDA as
defined in its credit agreement, the lender may terminate the
agreement, requiring the Company to repay any outstanding amount.
EBITDA and adjusted EBITDA are non-GAAP measures and should not be
considered in isolation, or as a substitute for, operating income,
cash flows from operating activities or as a measure of the Company's
profitability or liquidity. EBITDA and adjusted EBITDA reflected
herein may not be comparable with similarly titled measures reported
by other companies.
Free cash flow is defined as cash flow from operating activities
or operating activities of continuing operations, less capital
expenditures. Free cash flow is considered a liquidity measure and
provides useful information about the Company's ability to generate
cash after investments in property and equipment. Free cash flow
reflected herein is a non-GAAP measure and may not be comparable to
similarly titled measures reported by other companies. Free cash flow
does not reflect the total change in the Company's cash position for
the period and should not be considered a substitute for such a
measure.
Net cash is defined as cash and cash equivalents after subtracting
total debt. Net cash is considered a measure of the Company's
liquidity and reflects the amount of cash and cash equivalents that
would remain with the Company after paying off its contractual debt
obligations. Net cash also provides information to investors regarding
the effect that each period's borrowings have on the Company's balance
of cash and cash equivalents. Net cash presented herein is a non-GAAP
measure and may not be comparable to similarly titled measures
reported by other companies.
Special Note: Except for historical information contained herein,
the statements made in this release constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve certain risks and uncertainties,
including statements regarding the Company's strategic direction,
prospects and future results. Certain factors, including factors
outside of our control, may cause actual results to differ materially
from those contained in the forward-looking statements, including
economic and other conditions in the markets in which we operate,
risks associated with acquisitions, competition, seasonality and the
other risks discussed in our Form 10-K and our other filings made with
the Securities and Exchange Commission, which discussions are
incorporated in this release by reference.
MONSTER WORLDWIDE, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(in thousands, except percentages and per share amounts)
(unaudited)
PURCHASE ACQUISITION
INFORMATION:
--------------------
Q1 2004 Q2 2004 Q3 2004 9M 2004
--------- --------- --------- ---------
Acquisition revenue:
Acquisitions completed
in 2004* $ 996 $ 14,425 $ 22,478 37,899
Acquisitions completed
in 2003** 2,336 2,869 3,863 9,068
--------- --------- --------- ---------
Total $ 3,332 $ 17,294 $ 26,341 $ 46,967
========= ========= ========= =========
Q1 2004 Q2 2004 Q3 2004 9M 2004
--------- --------- --------- ---------
Acquisition operating
income:
Acquisitions completed
in 2004* $ 141 $ 1,442 $ 430 $ 2,013
Acquisitions completed
in 2003** 452 374 1,448 2,274
--------- --------- --------- ---------
Total $ 593 $ 1,816 $ 1,878 $ 4,287
========= ========= ========= =========
SEGMENT INFORMATION:
--------------------
Q3 2004 Q3 2003 Inc./(Dec.) % Change
--------- --------- --------- ---------
Revenue:
Monster $ 157,679 $ 103,783 $ 53,896 51.9%
Advertising &
Communications 42,571 36,476 6,095 16.7%
Directional Marketing 26,872 30,544 (3,672) -12.0%
--------- --------- ---------
Total $ 227,122 $ 170,803 $ 56,319 33.0%
========= ========= =========
Operating income (loss):
Monster $ 28,729 $ 21,935 $ 6,794 31.0%
Advertising &
Communications 273 (4,404) 4,677 106.2%
Directional Marketing 2,659 2,167 492 22.7%
--------- --------- ---------
Total $ 31,661 $ 19,698 $ 11,963 60.7%
========= ========= =========
SEGMENT INFORMATION:
--------------------
9M 2004 9M 2003 Inc./(Dec.) % Change
--------- --------- --------- ---------
Revenue:
Monster $ 421,745 $ 307,876 $ 113,869 37.0%
Advertising &
Communications 125,568 110,206 15,362 13.9%
Directional Marketing 70,818 81,142 (10,324) -12.7%
--------- --------- ---------
Total $ 618,131 $ 499,224 $ 118,907 23.8%
========= ========= =========
Operating income (loss):
Monster $ 72,099 $ 32,034 $ 40,065 125.1%
Advertising &
Communications 1,098 (26,988) 28,086 104.1%
Directional Marketing 2,907 (1,619) 4,526 279.6%
--------- --------- ---------
Total $ 76,104 $ 3,427 $ 72,677 2120.7%
========= ========= =========
2004 GAAP operating
income vs.
2003 Non-GAAP operating
income (loss)***:
Monster $ 72,099 $ 60,621 $ 11,478 18.9%
Advertising &
Communications 1,098 (15,223) 16,321 107.2%
Directional Marketing 2,907 5,951 (3,044) -51.2%
--------- --------- ---------
Total $ 76,104 $ 51,349 $ 24,755 48.2%
========= ========= =========
* -- represents the following acquisitions:
-- Military Advantage, Inc., completed on March 1, 2004
-- Jobpilot GMBH, completed on April 22, 2004
-- Tickle, Inc., completed on May 21, 2004
-- 47.9704% interest in, and management control of, WebNeuron
Services Limited (JobsAhead), on June 18, 2004
** -- represents the acquisition of QuickHire, Inc. completed on
July 31, 2003
*** -- A reconciliation of operating income (loss) to Non- GAAP
operating income (loss) in 2003 is calculated as follows:
Add Back:
Business Reorganization
Operating and Other Non-GAAP
9 Months Ended September Income Special Operating
30, 2003 (Loss) Charges Income (Loss)
--------- --------- ---------
Monster $ 32,034 $ 28,587 $ 60,621
Advertising &
Communications (26,988) 11,765 (15,223)
Directional Marketing (1,619) 7,570 5,951
--------- --------- ---------
Total $ 3,427 $ 47,922 $ 51,349
========= ========= =========
SUMMARY BALANCE SHEET
INFORMATION:
---------------------
9/30/2004 6/30/2004 Inc./(Dec.) % Change
--------- --------- --------- ---------
Net cash:
Cash and cash
equivalents $ 117,212 $ 82,204 $ 35,008 42.6%
Debt 57,029 56,803 226 0.4%
--------- --------- ---------
Net cash $ 60,183 $ 25,401 $ 34,782 136.9%
========= ========= =========
Deferred revenue:
Monster $ 195,446 $ 178,887 $ 16,559 9.3%
Other 4,066 4,376 (310) -7.1%
--------- --------- ---------
Total deferred revenue $ 199,512 $ 183,263 $ 16,249 8.9%
========= ========= =========
9/30/2004 12/31/2003 Inc./(Dec.) % Change
--------- --------- --------- ---------
Net cash:
Cash and cash
equivalents $ 117,212 $ 142,255 $ (25,043) -17.6%
Debt 57,029 4,710 52,319 1110.8%
--------- --------- ---------
Net cash $ 60,183 $ 137,545 $ (77,362) -56.2%
========= ========= =========
Deferred revenue:
Monster $ 195,446 $ 153,154 $ 42,292 27.6%
Other 4,066 5,911 (1,845) -31.2%
--------- --------- ---------
Total deferred revenue $ 199,512 $ 159,065 $ 40,447 25.4%
========= ========= =========
SUMMARY CASH FLOW
INFORMATION
-----------------
Free Cash Flow: Q3 2004 Q2 2004 Q3 2003
--------- --------- ---------
Cash flow from operating
activities $ 42,106 $ 17,360 $ 13,284
Less: Capital
expenditures (5,861) (8,632) (6,437)
--------- --------- ---------
Free cash flow and free
cash flow from
continuing operations $ 36,245 $ 8,728 $ 6,847
========= ========= =========
Cash at June 30 2004 $ 82,204
---------
Cash payments for
integration and business
reorganization costs (1,766)
Cash provided by business
held for sale 741
Cash provided by all other
operating activities 43,131
--------- Cash provided by
operating activities 42,106
--------- Cash paid for capital
expenditures (5,861)
Cash paid in connection
with purchase
transactions and
intangible assets, net (1,814)
Cash used in business
held for sale (301)
---------
Cash used in investing
activities (7,976)
---------
Net payments on debt (338)
Cash received from
exercise of employee
stock options 978
---------
Cash provided by
financing activities 640
---------
Effects of exchange rates 238
---------
Cash at September 30,
2004 $ 117,212
=========
MONSTER WORLDWIDE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months Ended September 30,
(in thousands, except per share amounts)
(unaudited)
2004 2003
--------- ---------
Revenue:
Monster $ 157,679 $ 103,783
Advertising & Communications 42,571 36,476
Directional Marketing 26,872 30,544
--------- ---------
Total revenue 227,122 170,803
--------- ---------
Operating expenses:
Salaries and related 108,869 80,605
Office and general 45,878 39,424
Marketing and promotion 37,529 30,473
Amortization of intangibles 3,185 603
--------- ---------
Total operating expenses 195,461 151,105
--------- ---------
Operating income 31,661 19,698
Interest and other, net (352) 36
--------- ---------
Income from continuing operations before income
taxes 31,309 19,734
Income taxes 11,108 7,147
--------- ---------
Income from continuing operations 20,201 12,587
Loss from discontinued operations, net of tax (213) (364)
--------- ---------
Net income $ 19,988 $ 12,223
========= =========
Basic earnings per share:
Income per share from continuing operations $ 0.17 $ 0.11
Loss per share from discontinued operations,
net of tax - -
--------- ---------
Basic earnings per share $ 0.17 $ 0.11
========= =========
Diluted earnings per share:
Income per share from continuing operations $ 0.17 $ 0.11
Loss per share from discontinued operations,
net of tax - -
--------- ---------
Diluted earnings per share $ 0.17 $ 0.11
========= =========
Weighted average shares outstanding:
Basic 118,584 112,342
========= =========
Diluted 120,351 115,249
========= =========
EBITDA:
Net income $ 19,988 $ 12,223
Interest expense, net 424 356
Income taxes 11,108 7,147
Depreciation and amortization 11,142 7,292
--------- ---------
EBITDA $ 42,662 $ 27,018
========= =========
MONSTER WORLDWIDE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the Nine Months Ended September 30,
(in thousands, except per share amounts)
(unaudited)
2004 2003
--------- ---------
Revenue:
Monster $ 421,745 $ 307,876
Advertising & Communications 125,568 110,206
Directional Marketing 70,818 81,142
--------- ---------
Total revenue 618,131 499,224
--------- ---------
Operating expenses:
Salaries and related 291,018 230,156
Office and general 129,571 119,002
Marketing and promotion 116,104 96,902
Business reorganization, spin-off and other
special charges - 47,922
Amortization of intangibles 5,334 1,815
--------- ---------
Total operating expenses 542,027 495,797
--------- ---------
Operating income 76,104 3,427
Interest and other, net (1,291) (830)
--------- ---------
Income from continuing operations before income
taxes 74,813 2,597
Income taxes 26,303 9,054
--------- ---------
Income (loss) from continuing operations 48,510 (6,457)
Income (loss) from discontinued operations,
net of tax 122 (87,539)
--------- ---------
Net income (loss) $ 48,632 $ (93,996)
========= =========
Basic earnings (loss) per share:
Income (loss) per share from continuing
operations $ 0.41 $ (0.06)
Loss per share from discontinued operations,
net of tax - (0.78)
--------- ---------
Basic earnings (loss) per share $ 0.41 $ (0.84)
========= =========
Diluted earnings (loss) per share:
Income (loss) per share from continuing
operations $ 0.41 $ (0.06)
Loss per share from discontinued operations,
net of tax - (0.78)
--------- ---------
Diluted earnings (loss) per share $ 0.41 $ (0.84)
========= =========
Weighted average shares outstanding:
Basic 117,188 111,887
========= =========
Diluted 119,392 111,887
========= =========
Reconciliation of income (loss) from continuing
operations to non-GAAP income from continuing
operations:
Income (loss) from continuing operations
before accounting change $ 48,510 $ (6,457)
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* $ 32,119
========= =========
Non-GAAP diluted income from continuing
operations per share
Income (loss) from continuing operations per
share before accounting change $ 0.41 $ (0.06)
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 income from continuing operations per
share N/A* $ 0.28
========= =========
Weighted average diluted shares outstanding
used in calculating Non-GAAP income from
continuing operations per share 119,392 113,756
========= =========
Adjusted EBITDA:
Net income (loss) $ 48,632 $ (93,996)
Interest expense, net 783 722
Income taxes 26,303 9,054
Depreciation and amortization 28,356 20,263
--------- ---------
EBITDA 104,074 (63,957)
Add back:
(Income) loss from discontinued operations,
net of tax (122) 87,539
Business reorganization, spin-off and other
special charges - 47,922
--------- ---------
Adjusted EBITDA $ 103,952 $ 71,504
========= =========
* Not Applicable
MONSTER WORLDWIDE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
September June 30, December
30, 2004 2004 31, 2003
--------- --------- ---------
Assets:
Cash and cash equivalents $ 117,212 $ 82,204 $ 142,255
Accounts receivable, net 423,229 375,675 338,931
Property and equipment, net 95,910 97,963 85,607
Intangibles, net 669,336 663,920 441,047
Other assets 82,103 87,751 95,530
Assets held for sale 21,201 20,108 18,909
---------- ---------- ----------
Total Assets $1,408,991 $1,327,621 $1,122,279
========== ========== ==========
Liabilities and Stockholders'
Equity:
Accounts payable and accrued
expenses $ 429,287 $ 395,918 $ 416,797
Accrued integration and
restructuring 9,526 12,065 6,688
Accrued business reorganization
and spin-off costs 23,428 25,035 33,958
Deferred revenue 199,512 183,263 159,065
Other liabilities 17,515 17,078 12,118
Debt 57,029 56,803 4,710
Liabilities held for sale 18,262 16,008 20,751
---------- ---------- ----------
Total Liabilities 754,559 706,170 654,087
Stockholders' Equity 654,432 621,451 468,192
---------- ---------- ----------
Total Liabilities and
Stockholders' Equity $1,408,991 $1,327,621 $1,122,279
========== ========== ==========
CONTACT: Monster Worldwide, Inc.
Investors: Robert Jones, 212-351-7032
robert.jones@monsterworldwide.com
or
Media: David Rosa, 212-351-7067
david.rosa@monsterworldwide.com
