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Dice Holdings reports big revenue increase

Dice Holdings, Inc., a provider of specialized career websites for professional communities, reported a 29 percent increase in revenue from the same period last year, totaling $34.4 million.

Dice attributed strong recruitment activity and the ongoing shift of recruitment spend to specialty career sites as the primary drivers of the revenue increase.

Acquisitions also gave revenue a boost. The acquisitions of Rigzone and WorldwideWorker contributed revenues of $1.5 million in the third quarter of 2010. Excluding the impact of the two acquisitions, revenues increased 23% year-over-year.

Operating income increased 48% to $8.8 million versus $5.9 million in the comparable quarter of 2009. The increase in operating income was a function of higher revenues partially offset by an increase in operating expenses primarily driven by higher sales compensation.

Revenues for the nine months ended September 30, 2010 totaled $91.1 million, as compared to $83.3 million in the same period in 2009, an increase of 9%. Strong results at eFinancialCareers and continued improvements in recruitment activity at Dice were the primary drivers of the increase.

Scot Melland, Chairman, President and Chief Executive Officer, said, “The third quarter performance included our best sales growth of any quarter this year illustrating how strongly we are performing in this sideways employment market. At Dice, we had double-digit year-over-year customer growth and eFinancialCareers posted excellent results in each of our major markets. This performance clearly reflects the benefits of our specialized approach which allows customers to find and recruit highly-skilled talent more efficiently and effectively.”

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