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Dice revenues increase 11% year over year

Dice reported today that it saw an increase of 11% from $27 million in the comparable quarter in 2009. It earned 6 cents a share on 2nd quarter revenues of $29.9 million – which beat Wall Street’s expectations.

Expenses also rose, a result of higher sales compensation and increased investments in product development and marketing. New and overhauled products included: the Dice Talent Network; AllHealthCareJobs; and ClearanceJobs.com.

Another improvement for Dice was the net cash provided by operating activities. For the quarter ending June 30, 2010, this was $10.6 million, an increase of 158% from $4.1 million in the comparable quarter of 2009.

Sale growth was driven by ClearanceJobs.com, by international operations (including Asia), eFinancialCareers.com, AllHealthCareJobs, and Targeted Job Fairs. Dice.com and ClearanceJobs.com provided the largest share of income at 71.3% for the first 6 months of 2010. This share represents a decrease from the same period in 2009.

Michael Durney, SVP, Finance and CFO, said, “At Dice.com, we marked the second consecutive quarter of recruitment package customer growth and increases in the monthly revenue those customers generate. In addition, eFinancialCareers posted year-over-year revenue growth in each of its major regions, including an all-time high in Asia.”

Dice expects revenues to continue rising, with 3rd quarter revenue estimates of $31.5 million, and $121.5 million for the year. That compares to $26.7 million for the Q3 2009 and $110 million for the entire year of 2009.

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