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Dice Holdings reports soaring revenues in Q4

Dice Holdings, a provider of specialized career websites for professional communities, reported a big increase in revenues for Q4.

Revenues for the quarter totaled $37.9 million, an increase of 42% from the $26.7 million reported a year before.

Dice attributed the growth to strong recruitment activity and the ongoing shift of recruitment spend to specialty career sites.

Acquisitions were also a strong source of growth. The purchase of Rigzone and WorldwideWorker contributed revenues of $2.7 million.

Operating income increased 50% to $10.9 million due to higher sales compensation costs as a result of increased customer activity, increased investments in marketing and product development, as well as increased performance related compensation costs.

For the full year, Dice reports that revenues totaled $129.0 million, as compared to $110.0 million in 2009, an increase of 17%.

Scot Melland, Chairman, President and Chief Executive Officer, said, “The Company’s strategy of building a portfolio of specialist job boards is proving to be successful. The fourth quarter was our strongest sales performance since early 2008; that momentum is encouraging as we head into 2011.”

Melland continued, “Looking ahead, we expect to see moderate economic growth combined with improving job growth and higher employee turnover. These market conditions provide us with a meaningful opportunity to generate value for companies and recruiters. As such, we will be focusing our efforts on reaching out to new customers, increasing our presence in new regions around the world and expanding our global oil and gas recruiting service.”

Dice Holdings owns and operates seven niche websites, including tech site Dice.com, eFinancialCareers.com, WorldWideWorker.com, Rigzone.com, AllHealthcareJobs.com, ClearanceJobs.com, and Targeted Job Fairs.

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