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Dice parent to explore alternatives in wake of Monster, LinkedIn sales

November 01, 2016

DHI Group Inc. (NYSE: DHX), which operates the Dice and other job boards, reported it’s weighing strategic alternatives in light of the recent LinkedIn and Monster sales.

During a board meeting, “discussion arose about the recent deal activity among our publicly traded competitors with Monster and LinkedIn having been sold and CareerBuilder about to be for sale,” CEO Mike Durney said in a conference call with analysts today. “In light of this activity, the board indicated it would be appropriate for our company to engage an investment bank to explore strategic alternatives to ensure the company’s ownership structure optimizes shareholder value and the company’s growth agenda.”

Durney continued: “We have begun this process and expect to retain a bank in the next few days, but there is no certainty that a transaction will occur. We will update you through the process when there is new information to share. But management and the board are excited about our strategy that places a stronger focus on tech, and we will move that forward regardless of the new ownership prospects.”

The company also today reported earnings with revenue down 14% in the third quarter to $56.1 million. Excluding Slashdot Media, which the company acquired in January, revenue fell 9%.

DHI reported a net loss of $16.8 million, which included an estimated non-cash impairment charge of $24.6 million to write-off goodwill and intangibles of Rigzone, a website serving the oil and gas industry that it acquired in 2010.

DHI also announced appointed Luc Grégoire as CFO, effective today. He replaces John Roberts, who left the company after serving as CFO since October 2013.