-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PsdXToouq4aSbgGdbBV6POzb5KP2z2YwHQgd0Ds3Yce5zAbYsaGEMfqWCtI03ewu wXlh47wghtbnRBXc1tRD3Q== 0000912057-00-004283.txt : 20000208 0000912057-00-004283.hdr.sgml : 20000208 ACCESSION NUMBER: 0000912057-00-004283 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000207 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOTJOBS COM LTD CENTRAL INDEX KEY: 0001087728 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-26891 FILM NUMBER: 525849 BUSINESS ADDRESS: STREET 1: 24 WEST 40TH STREET STREET 2: 14TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 MAIL ADDRESS: STREET 1: 24 WEST 40TH STREET 14TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 7, 2000 ---------------- HotJobs.com, Ltd. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-26891 13-3931821 - ------------------------ ------------------------------------ (Commission File Number) (I.R.S. Employer Identification No.) 24 West 40th Street, 14th Floor, New York, NY 10018 - --------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (212) 699-5300 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events A copy of the Company's press release announcing certain of its financial results for three months any year ended December 31, 1999 is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The Company's prospectus dated November 10, 1999 states that "17,875,000 shares will be eligible for sale 90 days after the date of this prospectus, subject in some cases to the restrictions of Rule 144." As of the date hereof, after taking into account the restrictions of Rule 144, only approximately 6,000,000 shares will be saleable within the 90-day period beginning February 9, 2000. Item 7. Financial Statements and Exhibits (c) Exhibits. The following documents are filed as exhibits to this report: 99.1 Press Release dated February 7, 2000. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HotJobs.com, Ltd. ----------------- (Registrant) By: /s/ Richard S. Johnson -------------------------- Name: Richard S. Johnson Title: President and Chief Executive Officer Dated: February 7, 2000 Exhibit Index Exhibit 99.1 Press Release, dated February 7, 2000. EX-99.1 2 EXHIBIT 99.1 Exhibit 99.1 [LOGO OF HOTJOBS.COM] [GRAPHIC OMITTED] FOR IMMEDIATE RELEASE - --------------------- February 7, 2000 FOURTH QUARTER REVENUES AT HOTJOBS.COM -------------------------------------- CLIMB 572% OVER PRIOR YEAR'S QUARTER ------------------------------------ NEW YORK, NY, FEBRUARY 7, 2000 -- HotJobs.com, Ltd. (Nasdaq: HOTJ) today announced its financial results for the quarter and year ended December 31, 1999. Revenue for the fourth quarter of 1999 increased to approximately $8.6 million, an increase of 572% over the fourth quarter 1998 revenue of approximately $1.3 million, and an increase of 53% over third quarter 1999 revenue of approximately $5.6 million. Revenue for the year ended December 31, 1999 increased to approximately $20.7 million, an increase of 489% over the year ended December 31, 1998 of approximately $3.5 million. The Internet-based recruiting solutions company, which went public just last August, continues to make strong gains during the "invest and scale" phase of its business strategy. Excluding the effects of a non-cash compensation charge and the beneficial conversion feature recognized during the year in conjunction with the company's IPO, the net loss was $0.15 per basic and diluted share for the quarter ended December 31, 1999, compared to a net loss of $.05 for the same period in 1998. Excluding these non-cash items for the full year ended December 31, 1999, the net loss equals $0.68 per basic and diluted share, compared to a net loss of $0.11 for the year ended December 31, 1998. The increase in the company's net loss per share, excluding the non-cash items mentioned above, in the quarter and year ended December 31, 1999, compared to the same periods in 1998, primarily reflects increased sales and marketing and general and administrative expenditures incurred to heighten brand awareness, increase staffing and support its "invest and scale" business strategy. HotJobs.com reported a $0.16 net loss per basic and diluted share attributable to common stockholders for the fourth quarter of 1999, compared to a net loss of $0.05 for the same period in 1998. HotJobs.com reported a $1.46 net loss per basic and diluted share attributable to common stockholders for the year ended December 31, 1999, compared to a net loss of $0.11 for the same period in 1998. The reported net loss per basic and diluted share attributable to common stockholders includes the effects of the non-cash compensation charge and the non-cash beneficial conversion feature. The impact of the non-cash compensation charge and beneficial conversion feature on net loss per basic and diluted share attributable to common stockholders was $0.01 and $0.78 for the quarter and year ended December 31, 1999, respectively. The non-cash compensation charge relates to options granted in 1999. The non-cash beneficial conversion feature relates to the 1,620,000 shares of Series A Preferred Stock issued by HotJobs.com in May 1999 with a conversion price below the then-expected IPO price. Refer to Table 1 for a reconciliation of net loss per share excluding non-cash items to reported net loss per share attributable to common stockholders. --MORE-- "1999 was an incredibly exciting year for us at HotJobs.com," said Richard Johnson, President and Chief Executive Officer of HotJobs.com. "It is our goal in 2000 to continue to attract high quality job seekers to our site, and really distinguish HotJobs.com as the site where quality companies find quality applicants. By doing that, we will be able to achieve greater penetration across our entire base of corporate clients." SIGNIFICANT MILESTONES ACHIEVED BY HOTJOBS.COM DURING 1999: - - Raised gross proceeds of approximately $165 million in equity funding and became a public company. - - Increased its already strong customer base, ending the year with more than 3,200 corporate members and over 5,000 recruiter Webstations. - - Added nine new licensees in 1999, including PepsiCo, Inc., Sabre Inc., and Warburg Dillon Read for Softshoe(R), the company's proprietary, Web-based, applicant tracking software, ending the year with 13 Softshoe licenses. - - Launched its branding campaign by airing its first ever Super Bowl ad in January 1999; in December 1999, HotJobs.com unveiled its new "Hottest Hand on the Web" campaign featuring the voice of Samuel L. Jackson. - - Bolstered its "Click & Mortar" strategy by staging seven WorkWorld job fairs in San Francisco (twice), New York (twice), San Jose, Chicago, and Somerset, NJ. - - Opened two additional domestic offices and one international office, ending the year with offices in Boston, Chicago, New York, San Francisco and Sydney, Australia. - - Formed strategic alliances in 1999 with partners such as About.com, Inc., FastCompany Media Group, L.L.C., and Juno Online Services, Inc. - - Broadened the executive management team by naming Steve Ellis as CFO and George J. Nassef, Jr. as CIO, and ended the year with 207 employees. ABOUT HOTJOBS.COM HotJobs.com is a leading Internet-based recruiting solutions company that provides a direct exchange of information between job seekers and employers. Over 3,200 member employers subscribe to the HotJobs.com online employment exchange, http://www.hotjobs.com. HotJobs.com also provides employers with additional recruiting solutions, such as its proprietary Softshoe -Registered Trademark- and Shoelace-TM- recruiting software, its WorkWorld job fairs and online advertising and consulting services. "Safe Harbor" Statement Under The Private Securities Litigation Reform Act: Statements in this release that are not strictly historical are "forward looking" statements which are subject to the many risks and uncertainties that exist in the Company's operations and business environment. These risks and uncertainties include, but are not limited to, the Company's limited operating history, history of losses and anticipation of continued losses, potential volatility of quarterly operating results, the ability to successfully implement the Company's expansion plans, risks related to the Internet, risks related to legal uncertainty and other risks which are set forth in more detail in the Company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on September 23, 1999, as well as other reports and documents filed from time to time with the Securities and Exchange Commission. # # #
CONTACTS - -------- AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD - -------------- -------------------------------- Eric Lipkind - Investor Info Michael Lawson - General Info 212-661-8030 Vice President of Finance Jean Young - Analyst Info 212-661-8030 212-699-5327 Claudine Cornelis - Media Info 212-661-8030 eric@hotjobs.com Robert Liu - Media Info AT BURSON-MARSTELLER Dir. Of Corp. Comm. Peter Himler 212-699-5316 (212) 614-4082 bob@hotjobs.com Peter_Himler@bm.com
--MORE-- TABLE 1 HOTJOBS.COM, LTD. NET LOSS PER SHARE RECONCILIATION
THREE MONTHS ENDED DECEMBER 31ST (Unaudited) 1999 1998 ---- ---- Net loss per share, excluding non-cash items $ (0.15) $ (0.05) Non-cash compensation charge (0.01) $ - Non-cash beneficial conversion feature - - --------- --------- Net loss per share attributable to common stockholders, reported $ (0.16) $ (0.05) ========= =========
TWELVE MONTHS ENDED DECEMBER 31ST 1999 1998 ---- ---- Net loss per share, excluding non-cash items $ (0.68) $ (0.11) Non-cash compensation charge (0.09) - Non-cash beneficial conversion feature (0.69) - --------- --------- Net loss per share attributable to common stockholders, reported $ (1.46) $ (0.11) ========= =========
--MORE-- HOTJOBS.COM, LTD. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS THREE MONTHS ENDED DECEMBER 31, 1999 AND 1998 (IN MILLIONS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED)
1999 1998 ---- ---- Revenues $ 8.6 $ 1.3 Cost Of Revenues 1.3 0.2 -------- ------- Gross Profit 7.3 1.1 Operating Expenses: Product Development 0.3 0.2 Sales and Marketing 8.4 1.2 General and Administrative 4.0 0.7 Non-Cash Compensation 0.5 - -------- ------- Total Operating Expenses 13.2 2.1 -------- ------- Loss From Operations (5.9) (1.0) Net Interest Income 1.1 - -------- ------- Net Loss $ (4.8) $ (1.0) ======== ======= Net Loss Per Basic and Diluted Share, Excluding Non-Cash Items $ (0.15) $ (0.05) Basic and Diluted Net Loss Per Common Share $ (0.16) $ (0.05) Weighted Average Shares Outstanding Used in Basic and Diluted Net Loss Per Common Share Calculation 29.2 20.8
HOTJOBS.COM, LTD. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS TWELVE MONTHS ENDED DECEMBER 31, 1999 AND 1998 (IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
1999 1998 ---- ---- Revenues $ 20.7 $ 3.5 Cost Of Revenues 3.5 0.5 -------- ------- Gross Profit 17.2 3.0 Operating Expenses: Product Development 1.0 0.5 Sales and Marketing 23.6 3.1 General and Administrative 9.7 1.6 Non-Cash Compensation 2.0 - -------- ------- Total Operating Expenses 36.3 5.2 -------- ------- Loss From Operations (19.1) (2.2) Net Interest Income(Expense) 1.3 (0.1) -------- ------- Net Loss $ (17.8) $ (2.3) ======== ======= Deemed Dividend Attributable To Issuance Of Convertible Preferred Stock (16.2) - -------- ------- Net Loss Attributable To Common Stock $ (34.0) $ (2.3) ======== ======= Net Loss Per Basic and Diluted Share, Excluding Non-Cash Items $ (0.68) $ (0.11) Basic and Diluted Net Loss Per Common Share $ (1.46) $ (0.11) Weighted Average Shares Outstanding Used in Basic and Diluted Net Loss Per Common Share Calculation 23.3 21.0
HOTJOBS.COM, LTD. CONDENSED CONSOLIDATED BALANCE SHEETS ($ MILLIONS)
DECEMBER 31, DECEMBER 31, 1999 1998 ---- ---- Cash & Cash Equivalents $ 88.4 $ 0.2 Marketable Securities 49.9 - Accounts Receivable, net 6.5 1.6 Property and Equipment, net 4.6 0.6 Other Assets 3.1 1.3 -------- ------- Total Assets $ 152.5 $ 3.7 ======== ======= Accounts Payable and Accrued Expenses $ 9.2 $ 0.6 Deferred Revenue 5.4 2.0 Due to Affiliate - 3.6 Other Liabilities 2.4 0.4 -------- ------- Total Liabilities 17.0 6.6 Stockholders' Equity (Deficit) 135.5 (2.9) -------- ------- Total Liabilities and Stockholders' Equity (Deficit) $ 152.5 $ 3.7 ======== =======
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