본문 바로가기 검색 바로가기 메뉴 바로가기
배너
배너

[실시간뉴스]

최종업데이트YYYY-mm-dd hh:mm:ss
검색

<PRNewswire>Monster Worldwide Reports Fourth Quarter ... (2/2)

and Full Year 2015 Results

Monster Worldwide Reports Fourth Quarter and Full Year 2015 Results

(WESTON, Massachusetts, Feb. 11, 2016 PRNewswire=연합뉴스)

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

_____ // Three Months Ended December 31, 2015 // Three Months Ended December 31, 2014 // Twelve Months Ended December 31, 2015 // Twelve Months Ended December 31, 2014

Revenue // $159,209 // $175,314 // $666,903 // $725,571

Salaries and related // 71,375 // 103,047 // 325,875 // 394,915

Office and general // 48,553 // 49,246 // 179,983 // 201,442

Marketing and promotion // 28,086 // 30,961 // 119,177 // 139,469

Restructuring and other special charges // 3,992 // - // 32,779 // -

Goodwill impairment // - // 325,800 // - // 325,800

Total operating expenses // 152,006 // 509,054 // 657,814 // 1,061,626

Operating income (loss) // 7,203 // (333,740) // 9,089 // (336,055)

Gain on partial sale of equity method investment // - // - // 8,849 // -

Gain on deconsolidation of subsidiaries, net // - // - // - // 11,828

Interest and other, net // (3,423) // (3,825) // (13,712) // (8,948)

Income (loss) before income taxes and income (loss) in equity interests // 3,780 // (337,565) // 4,226 // (333,175)

Provision for (benefit from) income taxes // 6,018 // (46,697) // (8,469) // (39,782)

Income (loss) in equity interests, net // 144 // (78) // 465 // (78)

(Loss) income from continuing operations // (2,094) // (290,946) // 13,160 // (293,471)

Income from discontinued operations, net of tax // 58,508 // 2,755 // 64,5139,664

Net income (loss) // $56,414 // $ (288,191) // $77,673 // $ (283,807)

Net income attributable to noncontrolling interest // (349) // (1,528) // (4,061)(5,482)

Net income (loss) attributable to Monster Worldwide, Inc. // $56,065 // $(289,719) // $73,612 // $(289,289)

*Basic earnings (loss) per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations // $ (0.02) // $ (3.33) // $0.15 // $ (3.33)

Income from discontinued operations, net of tax // 0.64 // 0.01 // 0.67 // 0.05

Basic earnings (loss) per share attributable to Monster Worldwide, Inc. // $0.62 // $ (3.31) // $0.82 // $ (3.29)

*Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations // $ (0.02) // $ (3.33) // $0.14$ (3.33)

Income from discontinued operations, net of tax // 0.64 // 0.01 // 0.64 // 0.05

Diluted earnings (loss) per share attributable to Monster Worldwide, Inc. // $0.62 // $ (3.31) // $0.78 // $ (3.29)

Weighted average shares outstanding:

Basic // 90,205 // 87,478 // 89,942 // 88,045

Diluted // 90,205 // 87,478 // 94,867 // 88,045

Reconciliation of (loss) income from continuing operations to Adjusted EBITDA

(Loss) income from continuing operations // $ (2,094) // $ (290,946) // $13,160 // $ (293,471)

(Income) loss in equity interests, net // (144) // 78 // (465) // 78

Provision for (benefit from) income taxes // 6,018 // (46,697) // (8,469) // (39,782)

Interest and other, net // 3,423 // 3,825 // 13,712 // 8,948

Gain on deconsolidation of subsidiaries, net // - // - // - // (11,828)

Gain on partial sale of equity method investment // - // - // (8,849) // -

Depreciation and amortization of intangibles // 10,705 // 11,775 // 44,390 // 47,317

Stock-based compensation // 287 // 11,366 // 11,673 // 34,914

Goodwill impairment // - // 325,800 // - // 325,800

Impairment of indefinite lived intangible // - // 1,000 // - // 1,000

Restructuring non-cash charges // 690 // - // 4,916 // -

Separation costs // - // 4,603 // 2,000 // 4,603

Impairment of capitalized software costs // 6,703 // - // 6,703 // -

Facilities costs // - // 500 // - // 7,729

Restructuring and other special charges, less non-cash items // 3,302 // - // 27,863 // -

Adjusted EBITDA // $28,890 // $21,304 // $106,634 // $85,308

*Earnings (loss) per share may not add in certain periods due to rounding.

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

_____ // Three Months Ended December 31, 2015 // Three Months Ended December 31, 2014 // Twelve Months Ended December 31, 2015 // Twelve Months Ended December 31, 2014

Cash flows provided by operating activities:

Net income (loss) // $56,414 // $ (288,191) // $77,673 // $ (283,807)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization // 10,797 // 12,095 // 45,422 // 48,643

Provision for doubtful accounts // 586 // 417 // 1,825 // 1,707

Stock-based compensation // 311 // 11,439 // 11,782 // 35,357

Deferred income taxes // 4,908 // (46,873) // 6,395 // (43,418)

Non-cash restructuring charges // 690 // - // 4,916 // -

Impairment of investment and indefinite lived intangible // - // 2,070 // - // 2,070

Goodwill impairment // - // 325,800 // - // 325,800

(Income) loss in equity interests, net // (144) // 78 // (465) // 78

Gain on deconsolidation of subsidiaries // - // - // - // (13,647)

Amount reclassified from accumulated other comprehensive income // 3,589 // - // 3,589 // 1,819

Gain on partial sale of equity method investment // - // - // (8,849) // -

Excess income tax benefit from equity compensation plans // - // - // - // (199)

Impairment of capitalized software costs // 6,703 // - // 6,703 // -

Gain from sale of remaining interest in subsidiary // (76,100) // - // (76,100) // -

Changes in assets and liabilities, net of acquisitions:

Accounts receivable // (31,041) // (24,789) // 9,197 // 40,567

Prepaid and other // 19,578 // (1,663) // 29,357 // (12,508)

Deferred revenue // 29,701 // 24,256 // (9,416) // (32,716)

Accounts payable, accrued liabilities and other // (7,319) // 12,372 // (28,266) // 13,009

Total adjustments // (37,741) // 315,202 // (3,910) // 366,562

Net cash provided by operating activities // 18,673 // 27,011 // 73,763 // 82,755

Cash flows provided by (used for) investing activities:

Capital expenditures // (7,296) // (9,087) // (28,900) // (39,843)

Payments for acquisitions, net of cash acquired // - // - // - // (27,005)

Investment in Alma Career Oy // (2,369) // - // (2,369) // (6,516)

Dividends received from equity investment and other // (750) // (941) // 898 // (2,163)

Capitalized patent defense costs // - // (1,577) // (2,305) // (4,539)

Cash received from partial sale of equity method investment // - // - // 9,128 // -

Net proceeds received from sale of remaining interest in subsidiary // 71,425 // - // 71,425 // -

Net cash provided by (used for) investing activities // 61,010 // (11,605) // 47,877 // (80,066)

Cash flows (used for) provided by financing activities:

Proceeds from borrowings on credit facilities // - // 66,100 // 32,100 // 146,400

Payments on borrowings on credit facilities // - // (184,200) // (32,100) // (192,300)

Proceeds from borrowings on term loan // - // 90,000 // - // 90,000

Payments on borrowings on term loan // (2,568) // (84,750) // (16,318) // (91,625)

Proceeds from Convertible notes // - // 143,750 // - // 143,750

Fees paid on the issuance of debt and purchase of capped call // - // (23,111) // (1,110) // (23,111)

Repurchase of common stock // (8,016) // - // (8,016) // (52,070)

Tax withholdings related to net share settlements of restricted stock awards and units // (645) // (5,551) // (8,684) // (10,565)

Excess income tax benefit from equity compensation plans // - // - // - // 199

Distribution paid to minority shareholder // - // - // (10,018) // (3,021)

Net cash (used for) provided by financing activities // (11,229) // 2,238 // (44,146) // 7,657

Effects of exchange rates on cash // (462) // (3,723) // (3,876) // (4,630)

Net increase in cash and cash equivalents // $67,992 // $13,921 // $73,618 // $5,716

Cash and cash equivalents from continuing operations, beginning of period // $88,389 // $61,399 // $72,030 // $70,066

Cash and cash equivalents from discontinued operations, beginning of period // 11,534 // 18,977 // 22,267 // 18,515

Cash and cash equivalents, beginning of period // $99,923 // $80,376 // $94,297 // $88,581

Cash and cash equivalents from continuing operations, end of period // $167,915 // $72,030 // $167,915 // $72,030

Cash and cash equivalents from discontinued operations, end of period // - // 22,267 // - // 22,267

Cash and cash equivalents, end of period // $167,915 // $94,297 // $167,915 // $94,297

Free cash flow:

Net cash provided by operating activities // $18,673 // $27,011 // $73,763 // $82,755

Less: Capital expenditures // (7,296) // (9,087) // (28,900) // (39,843)

Free cash flow // $11,377 // $17,924 // $44,863 // $42,912

MONSTER WORLDWIDE, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

_____ // December 31, 2015 // December 31, 2014

Assets:

Cash and cash equivalents // $167,915 // $72,030

Accounts receivable, net // 260,518 // 279,569

Property and equipment, net // 110,143 // 117,191

Goodwill and intangibles, net // 524,373 // 531,195

Investment in unconsolidated affiliates // 21,566 // 20,700

Other assets // 75,394 // 125,448

Assets of discontinued operations // - // 71,018

Total Assets // $1,159,909 // $1,217,151

Liabilities and Stockholders' Equity:

Accounts payable, accrued expenses and other current liabilities // $137,069 // $154,103

Deferred revenue // 279,815 // 297,636

Current portion of long-term debt // 10,792 // 9,563

Long-term income taxes payable // 36,348 // 54,636

Long-term debt, net, less current portion // 188,457 // 201,821

Other long-term liabilities // 26,022 // 16,635

Liabilities of discontinued operations // - // 8,012

Total Liabilities // $678,503 // $742,406

Stockholders' Equity // 481,406 // 474,745

Total Liabilities and Stockholders' Equity // $1,159,909 // $1,217,151

MONSTER WORLDWIDE, INC.

UNAUDITED NON-GAAP STATEMENTS OF OPERATIONS AND RECONCILIATIONS

(in thousands, except per share amounts)

_____ // Three Months Ended December 31, 2015 [As Reported // Non GAAP Adjustments // Consolidated Non GAAP] // Three Months Ended December 31, 2014 [As Reported // Non GAAP Adjustments // Consolidated Non GAAP]

Revenue // $159,209 // $- // // $159,209 // $175,314 // $- // $175,314

Salaries and related // 71,375 // (287)a // 71,088 // 103,047 // (15,969)a // 87,078

Office and general // 48,553 // (6,703)d // 41,850 // 49,246 // (1,500)c // 47,746

Marketing and promotion // 28,086 // - // 28,086 // 30,961 // - // 30,961

Restructuring and other special charges // 3,992 // (3,992)b // - // - // - // -

Goodwill impairment // - // - // - // 325,800 // (325,800)e // -

Total operating expenses // 152,006 // (10,982) // 141,024 // 509,054 // (343,269) // 165,785

Operating income (loss) // 7,203 // 10,982 // 18,185 // (333,740) // 343,269 // 9,529

Operating margin // 4.5% // - // 11.4% // (190.4%) // - // 5.4%

Interest and other, net // (3,423) // 1,250 h // (2,173) // (3,825) // 2,361 h // (1,464)

Income (loss) before income taxes and income in equity interests // 3,780 // 12,232 // 16,012 // (337,565) // 345,630 // 8,065

Provision for (benefit from) income taxes // 6,018 // (430)j // 5,588 // (46,697) // 49,743 i,j // 3,046

Income (loss) in equity interests, net // 144 // - // 144 // (78) // - // (78)

(Loss) income from continuing operations // (2,094) // 12,662 // 10,568 // (290,946) // 295,887 // 4,941

Income from discontinued operations, net of tax // 58,508 // (58,508)k // - // 2,755 // (2,755)k // -

Net income (loss) // 56,414 // (45,846) // 10,568 // (288,191) // 293,132 // 4,941

Net income attributable to noncontrolling interest // (349) // 349 // - // (1,528) // 1,528 // -

Net income (loss) attributable to Monster Worldwide, Inc. // $56,065 // $(45,497) // $10,568 // $(289,719) // $294,660 // $4,941

*Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:

(Loss) Income from continuing operations // $(0.02) // $0.14 // $0.12 // $(3.33) // $3.38 // $0.05

Income from discontinued operations, net of tax // 0.64 // (0.64) // - // 0.01 // (0.01) // -

*Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.: // $0.62 // $0.50 // $0.12 // $(3.31) // $3.37 // $0.05

Weighted average shares outstanding:

Diluted // 90,205 // 774 l,m // 90,979 // 87,478 // 3,186 m // 90,664

_____ // Twelve Months Ended December 31, 2015 [As Reported // Non GAAP Adjustments // Consolidated Non GAAP] // Twelve Months Ended December 31, 2014 [As Reported // Non GAAP Adjustments // Consolidated Non GAAP]

Revenue // $666,903 // $- // $666,903 // $725,571 // $- // $725,571

Salaries and related // 325,875 // (13,672) a // 312,203 // 394,915 // (39,517) a // 355,398

Office and general // 179,983 // (6,703) d // 173,280 // 201,442 // (8,729) c // 192,713

Marketing and promotion // 119,177 // - // 119,177 // 139,469 // - // 139,469

Restructuring and other special charges // 32,779 // (32,779) b // - // - // - // -

Goodwill impairment // - // - // - // 325,800 // (325,800) e // -

Total operating expenses // 657,814 // (53,154) // 604,660 // 1,061,626 // (374,046)687,580

Operating income (loss) // 9,089 // 53,154 // 62,243 // (336,055) // 374,046 // 37,991

Operating margin // 1.4% // - // 9.3% // (46.3%) // - // 5.2%

Gain on partial sale of equity method investment // 8,849 // (8,849) g // - // - // - // -

Gain on deconsolidation of subsidiaries, net // - // - // - // 11,828 // (11,828) f // -

Interest and other, net // (13,712) // 5,039 h // (8,673) // (8,948) // 2,361 h // (6,587)

Income (loss) before income taxes and income (loss) in equity interests // 4,226 // 49,344 // 53,570 // (333,175) // 364,579 // 31,404

(Benefit from) provision for income taxes // (8,469) // 27,219 j // 18,750 // (39,782) // 50,461 i,j // 10,679

Income (loss) in equity interests, net // 465 // - // 465 // (78) // - // (78)

Income (loss) from continuing operations // 13,160 // 22,125 // 35,285 // (293,471) // 314,118 // 20,647

Income from discontinued operations, net of tax // 64,513 // (64,513) k // - // 9,664 // (9,664) k // -

Net income (loss) // 77,673 // (42,388) // 35,285 // (283,807) // 304,454 // 20,647

Net income attributable to noncontrolling interest // (4,061) // 4,061 // - // (5,482) // 5,482 // -

Net income attributable to Monster Worldwide, Inc. // $73,612 // $(38,327) // $35,285 // $(289,289) // $309,936 // $20,647

*Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:

Income (loss) from continuing operations // $0.14 // $0.25 // $0.39 // $(3.33) // $3.56 // $0.23

Income from discontinued operations, net of tax // 0.64 // (0.64) // - // 0.05 // (0.05) // -

Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.: // $0.78 // $(0.39) // $0.39 // $(3.29) // $3.51 // $0.23

Weighted average shares outstanding:

Diluted // 94,867 // (3,977) l // 90,890 // 88,045 // 3,046 m // 91,091

Note Regarding Non GAAP Adjustments:

The financial information included herein contains certain Non-GAAP financial measures. This information is not intended to be used in place of the financial information prepared and presented in accordance with GAAP, nor is it intended to be considered in isolation. We believe that the above presentation of Non-GAAP measures provide useful information to management and investors regarding certain core operating and business trends relating to our results of operations, exclusive of certain restructuring related and other special charges.

Non GAAP adjustments consist of the following:

a. Costs related to stock based compensation. Additionally, the YTD 2015 period includes $2.0m of separation costs associated with the former CEO's resignation which occurred in Q4 2014. Similarly, both the QTD and YTD 2014 periods include $4.4m of expense associated with the acceleration of shares and $5.0m of cash separation costs in connection with his resignation.

b. Restructuring related charges pertaining to the"Reallocate to Accelerate" program announced in February 2015.

c. Charges related to exited facilities primarily associated with the move to our corporate headquarters in Weston, Massachusetts. In addition, the Company recorded a $1.0m impairment on an indefinite-lived intangible in Q4 2014.

d. Impairment charge relating to capitalized software costs.

e. Goodwill impairment charge resulting from our 2014 annual impairment test which was recognized in our Careers-North America segment.

f. Gain on deconsolidation of subsidiaries, net

g. Gain on partial sale of an equity method investment during Q1 2015.

h. Non-GAAP interest expense related to the debt discount and amortization of deferred financing costs associated with the Company's convertible notes due 2019. The QTD and YTD 2014 periods also include an impairment charge related to a cost basis investment recognized in Q4 2014.

i. Non-GAAP adjustment for both the QTD and YTD 2014 periods includes a tax benefit of approximately $63.0m related to the goodwill impairment charge recognized in Q4 2014. The YTD 2014 period also includes a Non-GAAP adjustment for the tax provison on the gain on deconsolidation of subsidiaries, net recognized during Q1 2014.

j. Beginning in Q1 2015, the Non-GAAP income tax provision is calculated using a fixed long-term projected Non-GAAP tax rate of 35% as applied to Non-GAAP pre-tax income. Prior to Q1 2015, the Non-GAAP income tax adjustment was calculated using the effective rate of the reporting period, as adjusted for the effects of certain non-deductible stock based compensation and provisions for tax valuation allowances.

k. Non-GAAP adjustment relates to the sale of our remaining interest in our former subsidiary in South Korea which closed in October 2015, and primarily includes the operations of our former subsidiary. The adjustment in the QTD and YTD 2015 periods includes a net gain recognized on the sale of $76.1m ($57.4m after tax) recognized in Q4 2014.

l. Non-GAAP adjustment includes the impact, based on the average share price for the period, of the Company's outstanding capped call transactions, which are anti-dilutive in GAAP earnings per share but are expected to mitigate the dilutive effect of the Company's convertible notes due 2019.

m. Non-GAAP adjustment includes the dilutive impact of the Company's non-vested stock under employee compensation plans as anitidilutive on a GAAP basis.

*Earnings (loss) per share may not add in certain periods due to rounding.

MONSTER WORLDWIDE, INC.

UNAUDITED NON-GAAP OPERATING SEGMENT INFORMATION

(in thousands)

Three Months Ended December 31, 2015 // Careers - North America // Careers - International // Corporate Expenses // Total

Revenue // $112,121 // $47,088 // - // $159,209

Operating income (loss) - GAAP // $18,030 // $(4,956) // $(5,871) // $7,203

Non GAAP Adjustments // 6,051 // 3,408 // 1,523 // 10,982

Operating income (loss) - Non GAAP // $24,081 // $(1,548) // $(4,348) // $18,185

Adjusted EBITDA // $31,027 // $1,961 // $(4,098) // $28,890

Operating margin - GAAP // 16.1% // (10.5%) // - // 4.5%

Operating margin - Non GAAP // 21.5% // (3.3%) // - // 11.4%

Adjusted EBITDA margin // 27.7% // 4.2% // - // 18.1%

Three Months Ended December 31, 2014 // Careers - North America // Careers - International // Corporate Expenses // Total

Revenue // $122,486 // $52,828 // - // $175,314

Operating loss - GAAP // $(305,847) // $(9,178) // $(18,715) // $(333,740)

Non GAAP Adjustments // 329,768 // 1,995 // 11,506 // 343,269

Operating income (loss) - Non GAAP // $23,921 // $(7,183) // $(7,209) // $9,529

Adjusted EBITDA // $30,790 // $(2,918) // $(6,568) // $21,304

Operating margin - GAAP // (249.7%) // (17.4%) // - // (190.4%)

Operating margin - Non GAAP // 19.5% // (13.6%) // - // 5.4%

Adjusted EBITDA margin // 25.1% // (5.5%) // - // 12.2%

Twelve Months Ended December 31, 2015 // Careers - North America // Careers - International // Corporate Expenses // Total

Revenue // $473,806 // $193,097 // - // $666,903

Operating income (loss) - GAAP // $82,354 // $(39,420) // $(33,845) // $9,089

Non GAAP Adjustments // 22,469 // 20,917 // 9,768 // 53,154

Operating income (loss) - Non GAAP // $104,823 // $(18,503) // $(24,077) // $62,243

Adjusted EBITDA // $133,719 // $(4,227) // $(22,858) // $106,634

Operating margin - GAAP // 17.4% // (20.4%) // - // 1.4%

Operating margin - Non GAAP // 22.1% // (9.6%) // - // 9.3%

Adjusted EBITDA margin // 28.2% // (2.2%) // - // 16.0%

Twelve Months Ended December 31, 2014 // Careers - North America // Careers - International // Corporate Expenses // Total

Revenue // $500,949 // $224,622 // - // $725,571

Operating loss - GAAP // $(246,918) // $(38,888) // $(50,249) // $(336,055)

Non GAAP Adjustments // 342,359 // 8,241 // 23,446 // 374,046

Operating income (loss) - Non GAAP // $95,441 // $(30,647) // $(26,803) // $37,991

Adjusted EBITDA // $123,359 // $(12,747) // $(25,304) // $85,308

Operating margin - GAAP // (49.3%) // (17.3%) // - // (46.3%)

Operating margin - Non GAAP // 19.1% // (13.6%) // - // 5.2%

Adjusted EBITDA margin // 24.6% // (5.7%) // - // 11.8%

Logo - http://photos.prnewswire.com/prnh/20150113/168978LOGO

SOURCE: Monster Worldwide, Inc.

<저작권자(c) 연합뉴스, 무단 전재-재배포 금지> 2016/02/12 11:54 송고

광고
댓글쓰기
배너
광고
AD(광고)
광고
많이 본 뉴스
많이 본 뉴스
종합
정치
산업/경제
사회
전국
스포츠
연예ㆍ문화
세계
더보기
AD(광고)
광고
AD(광고)