Monster Worldwide Sees Lower Q3 Revenues - Quick Facts

(RTTNews) - Monster Worldwide Inc. (MWW) said that it expects revenue from continuing operations for the third quarter ended September 30, 2016 to be in the range of $143 million to $145 million. This result is down about 14% from third quarter 2015 revenue of $167.1 million.

"While we are gaining traction in North America as a result of our new product initiatives and pay per click business, the continued pressure on our core traditional product offerings combined with the weakness in bookings in prior quarters has resulted in a decline in third quarter 2016 revenue in North America of 16% on a year over year basis," said Tim Yates, CEO, Monster Worldwide.

The company noted that it intends to release complete results for the third quarter of 2016 on October 21, 2016.

As previously announced on August 9, 2016, Monster entered into a definitive agreement with Randstad under which Randstad will acquire Monster for $3.40 per share in cash. The transaction is expected to close during the fourth quarter of 2016.