Monster Worldwide Posts Loss; Cancels Conference Call Due To Deal With Randstad

(RTTNews) - Monster Worldwide, Inc. (MWW), which has been agreed to be acquired by Dutch human resources services provider Randstad Holding nv, in $429 million cash deal, reported Tuesday that its second-quarter net loss from continuing operations was $124.2 million, or $1.40 per share.

The latest results included a pre-tax goodwill impairment charge of $142.0 million. Adjusted net loss from continuing operations was $2.1 million, or $0.02 per share.

Revenue from continuing operations were $150.9 million with Careers-North America operations generating $103.7 million and Careers- International contributing $47.2 million.

Cash EBITDA was $7.0 million in the second quarter of 2016, while deferred revenue from continuing operations was $239.3 million.

Monster said it has canceled its second quarter 2016 conference call with analysts and investors previously scheduled for August 9, in light of the announced agreement with Randstad.

Monster has also suspended any prior guidance provided as a result of the transaction announcement.