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View All NewsDice.com parent company, DHI Group, says Q4 tech revenue flat, but sees growth ahead
DHI Group Inc. (NYSE: DHX), the parent company of job board Dice.com, reported revenue in its tech-focused operations was roughly flat in the fourth quarter, declining just 0.1%. Tech-focused revenue’s flat growth rate includes revenue from Dice.com and its targeted career fairs, ClearanceJobs.com, and eFinancialCareers; it does not include Dice Europe, which ceased operations in August 2018.
The New York-based company said it expects modest year-over-year revenue growth starting the first half of this year for its tech-focused businesses with growth increasing in the second half. It also plans more progress on “rationalizing its expenses.”
Total revenue for the fourth quarter at DHI Group, however, fell 25.4%. The decline was caused by the divestitures of several non-tech businesses including Health eCareers, sold Dec. 4, 2017; Hcareers, sold May 22, 2018; and the sale of a majority ownership of Rigzone on Aug. 31, 2018. Majority ownership of its BioSpace site was transferred to management on Jan. 31, 2018.
| (US$ thousands) | Q4 2018 | Q4 2017 | % change |
| Revenue | $37,987 | $50,936 | -25.4% |
| Net loss/income | $2,946 | $11,758 | -74.9% |
Among DHI’s tech-focused business lines, growth was concentrated in ClearanceJobs.com where revenue rose 21.7%.
Revenue by segment
| (US$ thousands) | Q4 2018 | Q4 2017 | % change |
| Dice US and Targeted Job Fairs | $23,952 | $24,930 | -3.9% |
| eFinancialCareers | $8,340 | $8,412 | -0.9% |
| ClearanceJobs | $5,727 | $4,705 | 21.7% |
| Total tech-focused excluding Dice Europe) | $38,019 | $38,047 | -0.1% |
| Dice Europe (ceased operations in August 2018) | ($32) | $1,713 | nm |
| Total tech-focused business | $37,987 | $39,760 | -4.5% |
“We ended 2018 with strong momentum, reaching an important inflection point in our business,” President and CEO Art Zeile said. “We stabilized our ongoing tech-focused revenues, improved our profitability and made significant progress in delivering against our tech-focused strategy.”
Full-year revenue
| (US$ thousands) | 2018 | 2017 | % change |
| Revenue | $161,570 | $207,950 | -22.3% |
| Net income (loss) | $7,174 | $15,978 | -55.1% |
Share price and market cap
Shares in DHI were up 7.18% to $2.02 as of 12:33 p.m. Eastern time; the company had a market cap of $99.4 million, according to FT.com.