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DHI Group Reports Fourth Quarter and Full Year 2019 Financial Results

2020-02-05 16:15 ET - News Release

Delivers Sequential Quarterly Growth in Total Revenues and Dice Revenues

NEW YORK, Feb. 5, 2020 /PRNewswire/ -- DHI Group, Inc. (NYSE: DHX) ("DHI" or the "Company") today announced the following financial results for the fourth quarter and full-year ended December 31, 2019.

Fourth Quarter 2019 Financial Results

  • Total revenues1 were $37.7 million, up 1% on a sequential basis and down 1% year over year.
  • Dice1 revenues were $23.3 million, up 1% on a sequential basis and down 3% year over year.
  • eFinancialCareers revenues were $7.8 million, down 1% on a sequential basis and down 6% year over year.
  • ClearanceJobs revenues were $6.6 million, up 5% on a sequential basis and up 16% year over year.
  • Excluding the impact of foreign exchange, total revenues were up 1% on a sequential basis and down 1% year over year while eFinancialCareers was down 4% on a sequential basis and down 6% year over year.
  • Net income was $3.5 million, or $0.07 per diluted share, compared to net income of $2.9 million, or $0.06 per diluted share, in the year-ago quarter.
  • Cash flow from operations was $3.9 million compared to $6.2 million in the year-ago quarter.
  • Adjusted EBITDA2 was $8.6 million, and Adjusted EBITDA margin2 was 23% compared to $8.3 million and 22% in the year-ago quarter.

Full Year 2019 Financial Results

  • Total revenues1 were $149.4 million, flat year over year.
  • Dice1 revenues were $92.5 million, down 2% year over year.
  • eFinancialCareers revenues were $32.1 million, down 5% year over year.
  • ClearanceJobs revenues were $24.7 million, up 17% year over year.
  • Excluding the impact of foreign exchange, total revenues were up 1% year over year while eFinancialCareers was down 2% year over year.
  • Net income was $12.6 million, or $0.24 per diluted share, compared to net income of $7.2 million, or $0.14 per diluted share in 2018.
  • Cash flow from operations was $22.9 million compared to $14.9 million in the prior year period.
  • Cash was $5.4 million; total debt of $10 million.
  • Adjusted EBITDA2 was $34.9 million, and Adjusted EBITDA margin2 was 23% compared to $32.0 million and 21% in the prior year period.

1 Excludes Dice Europe, which ceased operations August 31, 2018.
2 See "Notes Regarding the Use of Non-GAAP Financial Measures" later in this press release.

Commenting on the quarter and the year, Art Zeile, President and CEO of DHI Group, Inc., said:

"We made significant progress during the year in building a strong foundation for future revenue growth and the long-term success of the Company. We delivered more product innovation in 2019 than the Company had delivered in the prior five years combined, and we intend to accelerate that pace of innovation in 2020 as the industry leader in the growing market for matching technologists with employers. We also strengthened our go-to-market strategy, with our new Chief Revenue Officer, Arie Kanofsky, adding top-notch sales leadership to his teams during the fourth quarter, while at the same time standing up new Dice commercial sales teams in Denver and New York. We believe our investments to further strengthen our product offerings and go-to-market strategy positions the Company to generate sustained long-term revenue growth in the future."

Product Highlights

In 2019, DHI delivered more than 20 marquee product releases and dozens of minor releases. DHI expects the pace of product development to increase in 2020 as a result of its investment in, and transformation of, its engineering team to a domain-driven engineering model. Below are the product highlights delivered during the fourth quarter:

Dice

  • Delivered Dice multi-location search and completed an update of Dice application management, which was the last piece in the complete renovation of the Dice client experience. In addition, all Dice clients have now been transitioned to TalentSearch 4.0. Dice Candidate Match, which was launched earlier in 2019, and the machine learning algorithm behind it, continues to improve with over 14 million successful matches in fiscal 2019.

eFinancialCareers

  • eFC marketplace capabilities expanded with the launch of an upgraded Candidate Profile, which added new fields for candidates to share career experience and goal information. Candidate Profile and the Messaging feature drove thousands of messages sent, connecting employers and candidates on the platform.

ClearanceJobs

  • ClearanceJobs continues to take the lead in driving new important capabilities, and in the fourth quarter delivered new dashboards for both employers and candidates that provide insight into their profile performance, network reach, and IntelliSearch-based recommendations to improve their connections.

Business Outlook

DHI expects revenue will turn to positive year-over-year growth in the second half of 2020, primarily driven by product development and increased investment in sales resources. The Company expects an Adjusted EBITDA margin2 of 20% for 2020, given its increased investment in product and engineering capacity and the ramp up of sales resources to accelerate revenue growth. The Company is not providing guidance for net income because it cannot reasonably assess the impact of stock-based compensation and income tax expense.

Conference Call Information

Art Zeile, President and Chief Executive Officer, and Kevin Bostick, Chief Financial Officer, will host a conference call today, February 5, 2020, at 5:00 p.m. Eastern Time to discuss the Company's financial results, recent developments and progress on its tech-focused strategy.

The call can be accessed by dialing 844-890-1790 (in the U.S.) or 412-380-7407 (outside the U.S.). Please ask to be placed into the DHI Group, Inc. call. A live webcast of the call will simultaneously be available through the Investor Relations section of the Company's website, https://www.dhigroupinc.com, and available for replay after the call ends.

About DHI Group, Inc.

DHI Group, Inc. (NYSE: DHX) is a leading provider of data, insights and employment connections through our specialized services for technology professionals and other select online communities. Our mission is to empower technology professionals and organizations that hire them to compete and win through expert insights and relevant employment connections. Employers and recruiters use our websites and services to source, hire and connect with the most qualified and highly-skilled technology professionals, while professionals use our websites and services to find ideal employment opportunities, relevant job advice and tailored career-related data. For nearly 30 years, we have built our Company on providing employers and professionals with career connections, news, tools and information. Today, we serve multiple markets in North America, Europe, the Middle East and the Asia Pacific region. Find out more at www.dhigroupinc.com.

1 Excludes Dice Europe, which ceased operations August 31, 2018.
See "Notes Regarding the Use of Non-GAAP Financial Measures" later in this press release.

Notes Regarding the Use of Non-GAAP Financial Measures

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, measures in accordance with generally accepted accounting principles in the United States ("GAAP") and may be different from similarly titled non-GAAP measures reported by other companies.  The Company believes that its presentation of non-GAAP measures, such as Adjusted Revenues, Adjusted EBITDA and Adjusted EBITDA margin 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.  The non-GAAP measures apply to consolidated results and results by segment or other measure as shown within this document. The Company has provided required reconciliations to the most comparable GAAP measures elsewhere in the document.

Adjusted Revenues

Adjusted Revenues is a non-GAAP metric used by management to measure operating performance. Adjusted Revenues represents Revenues less the revenues of divested businesses. We consider Adjusted Revenues to be an important measure to evaluate the performance of our ongoing businesses and provide comparable results excluding our divestitures.

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP metrics used by management to measure operating performance. Management uses Adjusted EBITDA as a performance measure for internal monitoring and planning, including preparation of annual budgets, analyzing investment decisions and evaluating profitability and performance comparisons between us and our competitors. The Company also uses this measure to calculate amounts of performance based compensation under the senior management incentive bonus program.  Adjusted EBITDA represents net income plus (to the extent deducted in calculating such net income) interest expense, income tax expense, depreciation and amortization, non-cash stock based compensation, losses resulting from certain dispositions outside the ordinary course of business including prior negative operating results of those divested businesses, certain writeoffs in connection with indebtedness, impairment charges with respect to long-lived assets, expenses incurred in connection with an equity offering or any other offering of securities by the Company, extraordinary or non-recurring non-cash expenses or losses, transaction costs in connection with the credit agreement, deferred revenues written off in connection with acquisition purchase accounting adjustments, writeoff of non-cash stock based compensation expense, severance and retention costs related to dispositions and reorganizations of the Company, losses related to legal claims and fees that are unusual in nature or infrequent, minus (to the extent included in calculating such net income) non-cash income or gains, interest income, business interruption insurance proceeds, and any income or gain resulting from certain dispositions outside the ordinary course of business, including prior positive operating results of those divested businesses, and gains related to legal claims that are unusual in nature or infrequent.

We also consider Adjusted EBITDA, as defined above, to be an important indicator to investors because it provides information related to our ability to provide cash flows to meet future debt service, capital expenditures and working capital requirements and to fund future growth. We present Adjusted EBITDA as a supplemental performance measure because we believe that this measure provides our board of directors, management and investors with additional information to measure our performance, provide comparisons from period to period and company to company by excluding potential differences caused by variations in capital structures (affecting interest expense) and tax positions (such as the impact on periods or companies of changes in effective tax rates or net operating losses), and to estimate our value.

Adjusted EBITDA Margin is computed as Adjusted EBITDA divided by Adjusted Revenues.

Adjusted Revenues, Adjusted EBITDA and Adjusted EBITDA Margin are not measurements of our financial performance under GAAP and should not be considered as an alternative to revenue, net income, operating income, cash provided by operating activities, or any other performance measures derived in accordance with GAAP as a measure of our profitability.

Forward-Looking Statements

This press release and oral statements made from time to time by our representatives contain forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include, without limitation, information concerning our possible or assumed future results of operations. These statements often include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to, our ability to execute our tech-focused strategy, competition from existing and future competitors in the highly competitive markets in which we operate, failure to adapt our business model to keep pace with rapid changes in the recruiting and career services business, failure to maintain and develop our reputation and brand recognition, failure to increase or maintain the number of customers who purchase recruitment packages, cyclicality or downturns in the economy or industries we serve, the uncertainty surrounding the United Kingdom's departure from the European Union, including uncertainty in respect of the regulation of data protection and data privacy, failure to attract qualified professionals to our websites or grow the number of qualified professionals who use our websites, failure to successfully identify or integrate acquisitions, U.S. and foreign government regulation of the Internet and taxation, our ability to borrow funds under our revolving credit facility or refinance our indebtedness and restrictions on our current and future operations under such indebtedness.  These factors and others are discussed in more detail in the Company's filings with the Securities and Exchange Commission, all of which are available on the Investors page of our website at www.dhigroupinc.com, including the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings under the headings "Risk Factors," "Forward-Looking Statements" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." You should keep in mind that any forward-looking statement made by the Company or its representatives herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect us. We have no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

Investor Contact

Todd Kehrli or Jim Byers
MKR Investor Relations, Inc.
212-448-4181
ir@dhigroupinc.com

Media Contact

Rachel Ceccarelli
Senior Director Communications
212-448-8288
media@dhigroupinc.com

 

DHI GROUP, INC.

 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

     (in thousands, except per share amounts)
















For the three months ended
December 31,


For the year ended
December 31,





2019


2018


2019


2018












Revenues

$

37,715



$

37,987



$

149,370



$

161,570













Operating expenses:








Cost of revenues

4,246



4,014



16,237



18,344


Product development

4,508



4,401



17,216



20,212


Sales and marketing

14,241



13,093



55,909



59,721


General and administrative

7,783



9,577



31,003



37,589


Depreciation

2,542



2,125



9,743



9,280


Amortization of intangible assets







482


Disposition related and other costs



2,405



1,700



7,619



Total operating expenses

33,320



35,615



131,808



153,247


Gain (loss) on sale of businesses, net



(66)



(537)



3,369


Operating income

4,395



2,306



17,025



11,692


Interest expense and other

(189)



(684)



(701)



(2,054)


Other expense



6





(36)


Income before income taxes

4,206



1,628



16,324



9,602


Income tax expense (benefit)

685



(1,318)



3,773



2,428


Net income

$

3,521



$

2,946



$

12,551



$

7,174













Basic earnings per share

$

0.07



$

0.06



$

0.26



$

0.15


Diluted earnings per share

$

0.07



$

0.06



$

0.24



$

0.14













Weighted average basic shares outstanding

48,950



48,315



48,739



48,520


Weighted average diluted shares outstanding

51,910



49,547



51,633



49,605


 

DHI GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(in thousands)














For the three months
ended December 31,


For the year ended
December 31,




2019


2018


2019


2018

Cash flows from (used in) operating activities:








     Net income

$

3,521



$

2,946



$

12,551



$

7,174


Adjustments to reconcile net income to net cash flows from operating activities:








     Depreciation

2,542



2,125



9,743



9,280


     Amortization of intangible assets







482


     Deferred income taxes

1,920



869



2,493



2,699


     Amortization of deferred financing costs

37



196



147



342


     Stock based compensation

1,569



1,244



5,704



6,606


     Change in accrual for unrecognized tax benefits

(212)



(1,561)



107



(1,179)


     (Gain) loss on sale of businesses, net



66



537



(3,369)


Changes in operating assets and liabilities:








     Accounts receivable

(5,550)



(3,825)



1,694



11,947


     Prepaid expenses and other assets

(970)



50



(904)



1,759


     Capitalized contract costs

(1,149)



(1,649)



453



(3,236)


     Accounts payable and accrued expenses

2,523



5,923



(5,621)



1,743


     Income taxes receivable/payable

(1,261)



49



(338)



(972)


     Deferred revenue

191



(244)



(4,583)



(18,866)


     Other, net

774



39



940



508


Net cash flows from operating activities

3,935



6,228



22,923



14,918


Cash flows from (used in) investing activities:








     Net cash received from sale of businesses, net





2,683



17,542


     Purchases of fixed assets

(3,843)



(3,449)



(14,188)



(10,053)


Net cash flows from (used in) investing activities

(3,843)



(3,449)



(11,505)



7,489


Cash flows from (used in) financing activities:








     Payments on long-term debt

(3,000)



(1,000)



(28,000)



(31,000)


     Proceeds from long-term debt

5,000



2,000



20,000



7,000


     Payments under stock repurchase plan

(757)



(1,149)



(2,519)



(1,977)


     Purchase of treasury stock related to vested restricted stock units

(538)



(146)



(1,904)



(693)


     Financing costs paid



(504)





(504)


Net cash flows from (used) in financing activities

705



(799)



(12,423)



(27,174)


Effect of exchange rate changes

130



(167)



(86)



(829)


Net change in cash and cash equivalents for the period

927



1,813



(1,091)



(5,596)


Cash and cash equivalents, beginning of period

4,454



4,659



6,472



12,068


Cash and cash equivalents, end of period

$

5,381



$

6,472



$

5,381



$

6,472


 

DHI GROUP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(in thousands)







ASSETS

December 31, 2019


December 31, 2018

Current assets





Cash and cash equivalents

$

5,381



$

6,472



Accounts receivable, net

21,158



22,850



Income taxes receivable

2,353



2,203



Prepaid and other current assets

4,180



7,330




Total current assets

33,072



38,855


Fixed assets, net

20,352



15,890


Acquired intangible assets

39,000



39,000


Capitalized contract costs

7,515



7,939


Goodwill

156,059



153,974


Deferred income taxes

7



136


Operating lease right of use asset

19,712




Other assets

2,604



2,591




Total assets

$

278,321



$

258,385














LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities





Accounts payable and accrued expenses

$

18,908



$

25,030



Operating lease liabilities

3,643





Deferred revenue

50,568



54,723



Income taxes payable

984



1,168




Total current liabilities

74,103



80,921


Long-term debt, net

9,435



17,288


Deferred income taxes

12,823



10,444


Deferred revenue

1,058



1,363


Accrual for unrecognized tax benefits

1,787



1,680


Operating lease liabilities

16,664




Other long-term liabilities

1,256



1,334




Total liabilities

117,126



113,030




Total stockholders' equity

161,195



145,355




Total liabilities and stockholders' equity

$

278,321



$

258,385


Supplemental Information and Non-GAAP Reconciliations

On the pages that follow, the Company has provided certain supplemental information that we believe will assist the reader in assessing our business operations and performance, including certain non-GAAP financial information and required reconciliations to the most comparable GAAP measure. A statement of operations  and statement of cash flows for the three and twelve month periods ended December 31, 2019 and 2018 and balance sheets as of December 31, 2019 and 2018 are provided elsewhere in this press release.

DHI GROUP, INC.

NON-GAAP SUPPLEMENTAL DATA

(Unaudited)

(dollars in thousands, except per customer data)





















For the three months
ended December 31,


For the year ended
December 31,



2019


2018


2019


2018

Reconciliation of Net Income to Adjusted EBITDA:








Net income

$

3,521



$

2,946



$

12,551



$

7,174



Interest expense

191



684



703



2,054



Income tax (benefit) expense

685



(1,318)



3,773



2,428



Depreciation

2,542



2,125



9,743



9,280



Amortization of intangible assets







482



Non-cash stock based compensation

1,569



1,244



5,704



6,606



(Gain) loss on sale of businesses, net



66



537



(3,369)



Disposition related and other costs



2,405



1,700



7,619



Legal contingencies and related fees

(14)



188



149



1,965



Divested businesses







(2,243)



Other

60



(6)



(1)



36


Adjusted EBITDA

$

8,554



$

8,334



$

34,859



$

32,032










Reconciliation of Operating Cash Flows to Adjusted EBITDA:








Net cash provided by operating activities

$

3,935



$

6,228



$

22,923



$

14,918



Interest expense

191



684



703



2,054



Amortization of deferred financing costs

(37)



(196)



(147)



(342)



Income tax (benefit) expense

685



(1,318)



3,773



2,428



Deferred income taxes

(1,920)



(869)



(2,493)



(2,699)



Change in accrual for unrecognized tax benefits

212



1,561



(107)



1,179



Change in accounts receivable

5,550



3,825



(1,694)



(11,947)



Change in deferred revenue

(191)



244



4,583



18,866



Disposition related and other costs



2,405



1,700



7,619



Legal contingencies and related fees

(14)



188



149



1,965



Divested businesses







(2,243)



Changes in working capital and other

143



(4,418)



5,469



234


Adjusted EBITDA

$

8,554



$

8,334



$

34,859



$

32,032











Dice Recruitment Package Customers








Beginning of period

6,100



6,200



6,200



6,450


End of period

6,000



6,200



6,000



6,200











Average for the period (1)

6,100



6,200



6,100



6,200











Dice Average Monthly Revenue per Recruitment Package Customer (2)

$

1,144



$

1,129



$

1,135



$

1,119











(1) Reflects the daily average of recruitment package customers during the period.

(2) Reflects the simple average of each period presented.






Summary of Deferred Revenue and Backlog:

December 31, 2019


December 31, 2018

Deferred Revenue

51,626


56,086

Contractual commitments not invoiced

37,093


25,845

Backlog3

$                                                                   88,719


$                                                                       81,931









(3) Backlog consists of deferred revenue plus customer contractual commitments not invoiced representing the value of future services to be rendered under committed contracts.

 

DHI GROUP, INC.

NON-GAAP SUPPLEMENTAL DATA (CONTINUED)

(Unaudited)

(in thousands)










For the three months ended December 31, 2019

Reconciliation of Operating Income to Adjusted EBITDA:

Tech-focused


Other


Total

Operating income

$

4,395



$



$

4,395



Depreciation

2,542





2,542



Non-cash stock based compensation

1,569





1,569



Legal contingencies and related fees

(14)





(14)



Other

62





62


Adjusted EBITDA

$

8,554



$



$

8,554











For the three months ended December 31, 2018

Reconciliation of Operating Income (Loss) to Adjusted EBITDA:

Tech-focused


Other


Total

Operating income (loss)

$

2,373



$

(67)



$

2,306



Depreciation

2,125





2,125



Non-cash stock based compensation

1,244





1,244



Disposition related and other costs

2,405





2,405



Legal contingencies and related fees

188





188



Loss on sale of businesses



66



66



Other

(1)



1




Adjusted EBITDA

$

8,334



$



$

8,334











For the year ended December 31, 2019

Reconciliation of Operating Income to Adjusted EBITDA:

Tech-focused


Other


Total

Operating income

$

17,025



$



$

17,025



Depreciation

9,743





9,743



Non-cash stock based compensation

5,704





5,704



Disposition related and other costs

1,700





1,700



Legal contingencies and related fees

149





149



Loss on sale of businesses

537





537



Other

1





1


Adjusted EBITDA

$

34,859



$



$

34,859











For the year ended December 31, 2018

Reconciliation of Operating Income to Adjusted EBITDA:

Tech-focused


Other


Total

Operating income

$

7,280



$

4,412



$

11,692



Depreciation

9,001



279



9,280



Amortization of intangible assets



482



482



Non-cash stock based compensation

6,434



172



6,606



Disposition related and other costs

7,352



267



7,619



Legal contingencies and related fees

1,965





1,965



Divested businesses



(2,243)



(2,243)



Gain on sale of business



(3,369)



(3,369)


Adjusted EBITDA

$

32,032



$



$

32,032











For the three months ended December 31, 2019

Reconciliation of Revenues to Adjusted Revenues:

Tech-focused


Other


Total

Revenues

$

37,715



$



$

37,715



Divested businesses






Adjusted Revenues

$

37,715



$



$

37,715











For the three months ended December 31, 2018

Reconciliation of Revenues to Adjusted Revenues:

Tech-focused


Other


Total

Revenues

$

37,987



$



$

37,987



Divested businesses






Adjusted Revenues

$

37,987



$



$

37,987











For the year ended December 31, 2019

Reconciliation of Revenues to Adjusted Revenues:

Tech-focused


Other


Total

Revenues

$

149,370



$



$

149,370



Divested businesses






Adjusted Revenues

$

149,370



$



$

149,370











For the year ended December 31, 2018

Reconciliation of Revenues to Adjusted Revenues:

Tech-focused


Other


Total

Revenues

$

152,258



$

9,312



$

161,570



Divested businesses



(9,312)



(9,312)


Adjusted Revenues

$

152,258



$



$

152,258



Definitions:








Tech-focused: Dice, Dice Europe (ceased operations on August 31, 2018), eFinancialCareers, ClearanceJobs, Career Events (formerly known as Targeted Job Fairs) and Corporate.

Other:1 Hcareers, Rigzone, and BioSpace.


1 Majority ownership of the BioSpace business was transferred to BioSpace management on January 31, 2018, the RigLogix portion of the Rigzone business was sold on February 20, 2018, Hcareers was sold on May 22, 2018, and majority ownership of the remaining Rigzone business was transferred to Rigzone management on August 31, 2018.

 

DHI GROUP, INC.

NON-GAAP SUPPLEMENTAL DATA (CONTINUED)

(Unaudited)

(in thousands)




Revenue




Q4 2019


Q4 2018


Change


$ Fx Impact3


   Dice


$

23,251


$

23,952


(3)%


$


   eFinancialCareers


7,835


8,340


(6)%


15


   ClearanceJobs


6,629


5,727


16%



Tech-focused, excluding Dice Europe


37,715


38,019


(1)%


15


   Dice Europe (1)



(32)


n.m.



Tech-focused


37,715


37,987


(1)%


15


Total Revenues


$

37,715


$

37,987


(1)%


$

15












Net Income


$

3,521


$

2,946






Diluted earnings per share


$

0.07


$

0.06






Adjusted Revenues


$

37,715


$

37,987






Adjusted EBITDA


$

8,554


$

8,334






Adjusted EBITDA Margin



23%



22%


















Revenue



FY 2019


FY 2018


Change


$ Fx Impact3


   Dice


$

92,527


$

94,438


(2)%


$


   eFinancialCareers


32,098


33,758


(5)%


(1,002)


   ClearanceJobs


24,745


21,086


17%



Tech-focused, excluding Dice Europe


149,370


149,282


—%


(1,002)


   Dice Europe(1)



2,976


n.m.



Tech-focused


149,370


152,258


(2)%


(1,002)


   Hcareers(2)



5,329


n.m.



   Rigzone(2)



3,771


n.m.



   BioSpace(2)



212


n.m.



Other



9,312


n.m.



Total Revenues


$

149,370


$

161,570


(8)%


$

(1,002)












Net Income


$

12,551


$

7,174






Diluted earnings per share


$

0.24


$

0.14






Adjusted Revenues


$

149,370


$

152,258






Adjusted EBITDA


$

34,859


$

32,032






Adjusted EBITDA Margin


23%


21%















(1) Dice Europe ceased operations on August 31, 2018.


(2) Majority ownership of the BioSpace business was transferred to BioSpace management on January 31, 2018, the RigLogix portion of the Rigzone business was sold on February 20, 2018, Hcareers was sold on May 22, 2018, and majority ownership of the remaining Rigzone business was transferred to Rigzone management on August 31, 2018.


(3) Foreign exchange impact is calculated by determining the increase (decrease) in current period revenues where current period revenues are translated using prior period exchange rates.



 

View original content:http://www.prnewswire.com/news-releases/dhi-group-reports-fourth-quarter-and-full-year-2019-financial-results-300999747.html

SOURCE DHI Group, Inc.

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