EX-99.1 2 a06-3312_2ex99d1.htm PRESS RELEASE

Exhibit 99.1

 

 

Monster Worldwide Reports Fourth Quarter and Full Year 2005 Results

 

Total Revenue Increases 24% to $267 Million for the Quarter; Monster Division Revenue Grows 30% to $224 Million with the Division’s Deferred Revenue Up 42% to $327 Million

 

Diluted Earnings Per Share from Continuing Operations Increases 56% to $0.28; Income from Continuing Operations Climbs 63% to $35 Million

 

Free Cash Flow of $45 Million in Fourth Quarter Brings 2005 Free Cash Flow to $182 Million

 

 

New York, February 1, 2006— Monster Worldwide, Inc. (NASDAQ:MNST) today reported financial results for the fourth quarter and year ended December 31, 2005.

 

Fourth Quarter Results

Total revenue increased 24% to $266.6 million in the fourth quarter of 2005 from $215.0 million in last year’s fourth quarter, while revenue at the Monster division grew 30% to $223.8 million over the $172.2 million recorded in the same period of 2004.  The Company’s Advertising & Communications business contributed $42.8 million to total revenue, essentially flat with last year’s comparable quarter.

 

Organic revenue growth for the Company and the Monster division was 24% and 29%, respectively, compared to last year’s fourth quarter.   Income from continuing operations for the fourth quarter increased 63% to $35.3 million from $21.7 million in the comparable quarter in 2004.  Net income was $36.5 million compared to $24.5 million in last year’s fourth quarter, a 49% increase.  Diluted earnings per share from continuing operations were $0.28, a 56% increase over $0.18 for the fourth quarter of 2004, and diluted earnings per share, including the results of discontinued operations, were $0.29, a 45% increase over $0.20 for the fourth quarter of 2004. The Monster division’s deferred

 

 

1


 

revenue balance at December 31, 2005 was $327.4 million, a 42% increase over last year’s fourth quarter balance of $230.1 million.

 

Cash generated from operating activities in the fourth quarter of 2005 was $60.9 million compared with $44.1 million for the comparable year ago quarter.  Free cash flow (a non-GAAP measure), defined as cash flow from operating activities less capital expenditures, increased to $45.2 million, a 9.5% increase, compared to $41.3 million in the fourth quarter of 2004.   At the end of the fourth quarter of 2005, Monster Worldwide’s net cash position, defined as cash and cash equivalents plus marketable securities, less total debt, totaled $273.3 million, compared to $134.9 million at December 31, 2004 and $269.0 million at September 30, 2005.  During the fourth quarter of 2005, the Company used $89.6 million, net of cash and marketable securities acquired, to purchase JobKorea, the leading online recruitment company in South Korea; and also used $7.9 million on share repurchases.  Stock option exercises generated an additional $57.3 million of cash for the Company in the fourth quarter.

 

“We are very pleased to report a strong finish to another outstanding year for Monster Worldwide.  Our solid financial performance for the fourth quarter and throughout the year directly reflects our ability to deliver effective and innovative solutions for a growing list of small, medium and global customers and job seekers,” said Andrew J. McKelvey, Chairman and Chief Executive Officer, of Monster Worldwide.  “The combination of Monster’s talented, experienced sales force worldwide and the Company’s expanding presence in overseas markets contributed to our strong revenue growth.  Overseas, Monster’s organic revenue growth rate improved for the second quarter in a row, with International growing 46% year to year.  In North America, we continued to attract thousands of new customers each month, while deepening our relationships with the nation’s largest employers.   Our singular focus is on continuing to develop and expand our industry while delivering strong, consistent financial results that drive shareholder value.  We are confident that our industry knowledge and operational expertise will enable us to build on our leadership position this year and in the years ahead.”

 

 

2


 

Full Year Results

Monster Worldwide reported total revenue of $986.9 million for the year ended December 31, 2005 compared to $756.1 million last year, a 31% increase.  Monster division revenue grew 38% to $818.3 million compared with $593.9 million in 2004. Income from continuing operations was $115.1 million, or $0.92 per diluted share compared to $64.9 million, or $0.54 per diluted share in the prior year.  Net income for 2005 was $107.4 million up from $73.1 million in 2004.  Diluted earnings per share, including the results of discontinued operations, were $0.86 compared to $0.61 reported in 2004.  For 2005, Monster Worldwide generated $221.6 million in cash flow from operating activities, and free cash flow was $181.8 million, up from $75.9 million in 2004.

 

Recent Developments

 

Monster #1 Job Site in Europe

•      A study done by Web research firm Neilsen//NetRatings in November 2005 ranked Monster the #1 most visited job site in Europe with 5.2 million unique visitors in the third quarter of 2005.  The study found that one in every four web users, or 29 million Europeans, visited job sites between July and September 2005, a 25% increase over the same period in the prior year.

Stock Repurchase Program

•      On November 10, 2005, the Company’s Board of Directors approved a share repurchase plan.  Under terms of the plan, Monster Worldwide is authorized to purchase up to $100 million of its shares of common stock in the open market or otherwise from time to time over a 30-month period as conditions warrant.  The Company repurchased 200,000 shares at a total cost of $7.9 million in the fourth quarter of 2005.

Monster Employment Index

•      The Monster Employment Index U.S. increased 32 points, or 28% over last year.  The Index showed strong, steady growth in online recruitment activity compared to the prior year with particular strength in construction, retail and military. Launched in April 2004 with data collected since October 2003, the Index culls

 

 

3


 

over 1500 Web sites including a variety of corporate career sites and job boards to present a snapshot of U.S. online job demand.

 

The Monster Employment Index Europe, which represents the first ongoing analysis of European online hiring activity, was up slightly in December 2005 having risen to an all time high of 112.  Since its inception in June 2005, with data collected since December 2004, the Index has exhibited a generally upward growth trend, showing a 29 point, or a 35% increase in online job demand year over year.

NASDAQ 100

•      On December 19, 2005, Monster Worldwide rejoined the NASDAQ-100 Index — one of the world’s most widely followed barometers of stock market activity.

 

Supplemental Financial Information

 

The Company has made available certain supplemental financial information, in a separate document that can be accessed directly at http://www.monsterworldwide.com/Q405.pdf or through the Company’s Investor Relations website at http://ir.monsterworldwide.com. 

 

Business Outlook

 

The following forward-looking statements reflect Monster Worldwide’s expectations as of February 1, 2006.  These expectations do not include the effect of any future acquisitions or dispositions, or factors outside of our control, which may have an impact on future financial results and are subject to the Special Note regarding forward-looking statements elsewhere in this release.

 

 

$’s in millions, except per share amounts

 

First
Quarter 2006

 

Full Year 2006

 

Total revenue

 

$278 - $285

 

$1,165 - $1,215

 

Monster division revenue

 

$239- $244

 

$1,005- $1,045

 

 

 

 

 

 

 

Diluted EPS from continuing operations

 

$0.26 - $0.27

 

$1.21 - $1.26

 

 

The 2006 earnings per share outlook includes an anticipated cost of approximately $0.05 per diluted share for new long term (non-cash) stock compensation grants which will be expensed ratably over the year.

 

 

4


 

Conference Call Information

Fourth quarter 2005 results will be discussed on Monster Worldwide’s quarterly conference call taking place on February 1, 2006 at 10:00 AM EST.  To join the conference call, please dial in on 888-551-5973 at 9:50 AM EST with the password “Monster.”  For those outside the United States, please call in on 706-643-3467 using the same password.  The call will begin promptly at 10:00 AM EST.  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.  For a replay of the call, please dial (800) 642-1687 or for outside the US dial (706) 645-9291 and use reference ID # 4395460.  This number is valid until midnight on February 9, 2006.

Contacts

 

Investors:

 

Robert Jones, (212) 351-7032, bob.jones@monsterworldwide.com

Media:

 

David Rosa, (212) 351-7067, david.rosa@monsterworldwide.com

 

About Monster Worldwide

 

Founded in 1967, Monster Worldwide, Inc. is the parent company of MonsterÒ, the leading global online careers property. The company also owns TMP Worldwide, one of the world’s largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,800 employees in 26 countries.  Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and NASDAQ 100. More information about Monster Worldwide is available at www.monsterworldwide.com.

 

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 26 local language and content sites in 24 countries worldwide. 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.

 

Note on Discontinued Operations

 

On June 1, 2005, the Company disposed of its Directional Marketing segment.  As a result, substantially all the operating results of such businesses have been reclassified to discontinued operations for all periods presented.  Entities that were retained are now included with the results of the Company’s Advertising & Communications international business for all periods presented.

 

 

5


 

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 (“GAAP”) and may be different from non-GAAP measures reported by other companies.  The Company believes that its presentation of non-GAAP measures, such as operating income before depreciation and amortization and free cash flow, provides 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 budgeting and planning purposes.

 

Operating income before depreciation and amortization is defined as income from operations before depreciation, amortization of intangible assets and amortization of stock based compensation. The Company considers operating income before depreciation and amortization to be an important indicator of its operational strength. This measure eliminates the effects of depreciation, amortization of intangible assets and amortization of stock based compensation from period to period, which the Company believes is useful to management and investors in evaluating its operating performance.  Operating income before depreciation and amortization is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

 

Free cash flow is defined as cash flow from operating activities 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.

 

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.

 

 

6


 

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

 

 

 

Three Months Ended December 31,

 

Twelve Months Ended December 31,

 

 

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

266,597

 

$

214,974

 

$

986,917

 

$

756,131

 

 

 

 

 

 

 

 

 

 

 

Salaries and related

 

111,774

 

102,308

 

427,226

 

348,254

 

Office and general

 

48,029

 

42,521

 

187,204

 

158,975

 

Marketing and promotion

 

53,636

 

37,079

 

196,070

 

150,359

 

Total operating expenses

 

213,439

 

181,908

 

810,500

 

657,588

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

53,158

 

33,066

 

176,417

 

98,543

 

 

 

 

 

 

 

 

 

 

 

Interest and other, net

 

4,538

 

(68

)

6,229

 

(1,010

)

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes and equity interests

 

57,696

 

32,998

 

182,646

 

97,533

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

20,196

 

11,343

 

64,186

 

32,638

 

Losses in equity interests

 

(2,180

)

—

 

(3,397

)

—

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

35,320

 

21,655

 

115,063

 

64,895

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations, net of tax

 

1,145

 

2,816

 

(7,631

)

8,209

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

36,465

 

$

24,471

 

$

107,432

 

$

73,104

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

$

0.28

 

$

0.18

 

$

0.94

 

$

0.55

 

Income (loss) per share from discontinued operations, net of tax

 

0.01

 

0.02

 

(0.06

)

0.07

 

Basic earnings per share

 

$

0.29

 

$

0.20

 

$

0.88

 

$

0.62

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations

 

$

0.28

 

$

0.18

 

$

0.92

 

$

0.54

 

Income (loss) per share from discontinued operations, net of tax

 

0.01

 

0.02

 

(0.06

)

0.07

 

Diluted earnings per share

 

$

0.29

 

$

0.20

 

$

0.86

 

$

0.61

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

124,348

 

119,373

 

122,055

 

117,738

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

127,418

 

122,353

 

125,038

 

120,075

 

 

 

 

 

 

 

 

 

 

 

Operating income before depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

$

53,158

 

$

33,066

 

$

176,417

 

$

98,543

 

Depreciation and amortization of intangibles

 

10,211

 

8,222

 

37,955

 

33,028

 

Amortization of stock based compensation

 

693

 

639

 

2,735

 

2,722

 

 

 

 

 

 

 

 

 

 

 

Operating income before depreciation and amortization

 

$

64,062

 

$

41,927

 

$

217,107

 

$

134,293

 

 


 

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 

 

 

Three Months Ended
December 31,

 

Twelve Months
Ended December 31,

 

 

 

2005

 

2004

 

2005

 

2004

 

Cash flows provided by operating activities:

 

 

 

 

 

 

 

 

 

Net income

 

$

36,465

 

$

24,471

 

$

107,432

 

$

73,104

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

 

 

(Income) loss from discontinued operations, net of tax

 

(1,145

)

(2,816

)

7,631

 

(8,209

)

Depreciation and amortization of intangibles

 

10,211

 

8,222

 

37,955

 

33,028

 

Provision for doubtful accounts

 

1,616

 

1,853

 

9,592

 

5,310

 

Tax benefit on stock option exercises and stock based compensation

 

17,773

 

5,637

 

26,487

 

7,325

 

Non-cash compensation

 

214

 

639

 

2,735

 

2,722

 

Common stock issued for matching contribution to
401(k) plan and other

 

973

 

604

 

3,813

 

4,280

 

Deferred income taxes

 

5,274

 

4,017

 

16,508

 

23,084

 

Minority interests and other

 

2,196

 

958

 

3,624

 

1,352

 

Changes in assets and liabilities, net of business combinations:

 

 

 

 

 

 

 

 

 

Accounts Receivable

 

(71,768

)

(20,663

)

(79,135

)

(81,294

)

Prepaid and other

 

9,109

 

(12,926

)

(14,364

)

(5,207

)

Deferred revenue

 

79,950

 

34,940

 

92,642

 

63,120

 

Accounts payable, accrued expenses and other liabilities

 

(29,919

)

(3,353

)

26,293

 

14,617

 

Net cash provided by (used for) operating activities of discontinued operations

 

—

 

2,509

 

(19,643

)

(40,697

)

Total adjustments

 

24,484

 

19,621

 

114,138

 

19,431

 

Net cash provided by operating activities

 

60,949

 

44,092

 

221,570

 

92,535

 

 

 

 

 

 

 

 

 

 

 

Cash flows used for investing activities:

 

 

 

 

 

 

 

 

 

Capital expenditures

 

(15,711

)

(2,777

)

(39,807

)

(16,603

)

Purchase of marketable securities

 

(118,461

)

—

 

(118,461

)

—

 

Payments for acquisitions and intangible assets, net of cash acquired

 

(96,597

)

(1,958

)

(148,349

)

(119,884

)

Investment in unconsolidated affiliate

 

—

 

—

 

(50,137

)

—

 

Sale of long-term investment

 

2,713

 

—

 

4,716

 

—

 

Net proceeds from sale of businesses

 

1,000

 

6,810

 

50,091

 

6,810

 

Net cash used for investing activities of discontinued operations

 

—

 

(764

)

(710

)

(9,634

)

Net cash provided by (used for) investing activities

 

(227,056

)

1,311

 

(302,657

)

(139,311

)

 

 

 

 

 

 

 

 

 

 

Cash flows provided by financing activities:

 

 

 

 

 

 

 

 

 

Borrowings (payments) on line of credit and capital lease obligations

 

323

 

(763

)

(1,814

)

(1,472

)

Proceeds from exercise of employee stock options

 

57,317

 

34,068

 

95,026

 

45,811

 

Proceeds from the issuance of common stock

 

—

 

—

 

—

 

55,673

 

Repurchase of common stock

 

(7,906

)

—

 

(9,304

)

—

 

Net cash provided by financing activities

 

49,734

 

33,305

 

83,908

 

100,012

 

 

 

 

 

 

 

 

 

 

 

Effects of exchange rates on cash

 

(739

)

2,191

 

(4,335

)

2,620

 

 

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

(117,112

)

80,899

 

(1,514

)

55,856

 

Cash and cash equivalents, beginning of period

 

313,709

 

117,212

 

198,111

 

142,255

 

Cash and cash equivalents, end of period

 

$

196,597

 

$

198,111

 

$

196,597

 

$

198,111

 

 

 

 

 

 

 

 

 

 

 

Free cash flow:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities

 

$

60,949

 

$

44,092

 

$

221,570

 

$

92,535

 

Less: Capital expenditures

 

(15,711

)

(2,777

)

(39,807

)

(16,603

)

Free cash flow

 

$

45,238

 

$

41,315

 

$

181,763

 

$

75,932

 

 


 

MONSTER WORLDWIDE, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

 

 

 

December 31, 2005

 

September 30, 2005

 

December 31, 2004

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

196,597

 

$

313,709

 

$

198,111

 

Marketable securities

 

123,747

 

—

 

—

 

Accounts receivable, net

 

392,439

 

321,243

 

318,530

 

Property and equipment, net

 

93,352

 

84,542

 

81,415

 

Goodwill and intangibles, net

 

735,678

 

640,655

 

664,738

 

Other assets

 

136,902

 

129,086

 

68,997

 

Total assets of discontinued operations

 

—

 

—

 

211,822

 

Total assets

 

$

1,678,715

 

$

1,489,235

 

$

1,543,613

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable, accrued expenses and other

 

$

336,308

 

$

340,304

 

$

308,060

 

Deferred revenue

 

328,902

 

248,063

 

231,382

 

Other liabilities

 

46,774

 

37,578

 

23,259

 

Debt

 

47,056

 

44,708

 

63,237

 

Total liabilities of discontinued operations

 

—

 

—

 

162,161

 

Total liabilities

 

759,040

 

670,653

 

788,099

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

919,675

 

818,582

 

755,514

 

 

 

 

 

 

 

 

 

Total liabilities and stockholders’ equity

 

$

1,678,715

 

$

1,489,235

 

$

1,543,613

 

 


 

MONSTER WORLDWIDE, INC.

UNAUDITED OPERATING SEGMENT INFORMATION

(in thousands)

 

 

 

Monster

 

Advertising & Communications

 

 

 

 

 

Three Months Ended December 31, 2005

 

North America

 

International

 

Total

 

North America

 

International

 

Total

 

Corporate

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

168,628

 

$

55,184

 

$

223,812

 

$

25,031

 

$

17,754

 

$

42,785

 

 

 

$

266,597

 

Operating income (loss)

 

58,331

 

891

 

59,222

 

6,838

 

625

 

7,463

 

$

(13,527

)

53,158

 

OIBDA

 

63,440

 

4,139

 

67,579

 

7,861

 

1,094

 

8,955

 

(12,472

)

64,062

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

34.6

%

1.6

%

26.5

%

27.3

%

3.5

%

17.4

%

 

 

19.9

%

OIBDA Margin

 

37.6

%

7.5

%

30.2

%

31.4

%

6.2

%

20.9

%

 

 

24.0

%

 

 

 

Monster

 

Advertising & Communications

 

 

 

 

 

Three Months Ended December 31, 2004

 

North America

 

International

 

Total

 

North America

 

International

 

Total

 

Corporate

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

135,252

 

$

36,912

 

$

172,164

 

$

21,427

 

$

21,383

 

$

42,810

 

 

 

$

214,974

 

Operating income (loss)

 

44,764

 

3,328

 

48,092

 

1,240

 

(3,340

)

(2,100

)

$

(12,926

)

33,066

 

OIBDA

 

49,405

 

4,849

 

54,254

 

2,361

 

(2,653

)

(292

)

(12,035

)

41,927

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

33.1

%

9.0

%

27.9

%

5.8

%

-15.6

%

-4.9

%

 

 

15.4

%

OIBDA Margin

 

36.5

%

13.1

%

31.5

%

11.0

%

-12.4

%

-0.7

%

 

 

19.5

%

 

 

 

Monster

 

Advertising & Communications

 

 

 

 

 

Twelve Months Ended December 31, 2005

 

North America

 

International

 

Total

 

North America

 

International

 

Total

 

Corporate

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

631,155

 

$

187,116

 

$

818,271

 

$

85,265

 

$

83,381

 

$

168,646

 

 

 

$

986,917

 

Operating income (loss)

 

211,342

 

(4,843

)

206,499

 

11,808

 

3,304

 

15,112

 

$

(45,194

)

176,417

 

OIBDA

 

231,313

 

5,716

 

237,029

 

16,226

 

5,112

 

21,338

 

(41,260

)

217,107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

33.5

%

-2.6

%

25.2

%

13.8

%

4.0

%

9.0

%

 

 

17.9

%

OIBDA Margin

 

36.6

%

3.1

%

29.0

%

19.0

%

6.1

%

12.7

%

 

 

22.0

%

 

 

 

Monster

 

Advertising & Communications

 

 

 

 

 

Twelve Months Ended December 31, 2004

 

North America

 

International

 

Total

 

North America

 

International

 

Total

 

Corporate

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

483,039

 

$

110,870

 

$

593,909

 

$

75,767

 

$

86,455

 

$

162,222

 

 

 

$

756,131

 

Operating income (loss)

 

134,155

 

1,813

 

135,968

 

4,893

 

(2,701

)

2,192

 

$

(39,617

)

98,543

 

OIBDA

 

152,266

 

8,578

 

160,844

 

9,610

 

(345

)

9,265

 

(35,816

)

134,293

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

27.8

%

1.6

%

22.9

%

6.5

%

-3.1

%

1.4

%

 

 

13.0

%

OIBDA Margin

 

31.5

%

7.7

%

27.1

%

12.7

%

-0.4

%

5.7

%

 

 

17.8

%