I normally am supportive of your posts but comparing Sal to Larry???? I mean I know you're speaking about his resignation but you might be reaching a bit too far. A better comparison would be anybody related to RadioShack...
Korea (south of course)
That's about 20% of the countries they were in - down down down - circling the drain. Just me or does Sal look a bit pale, got that far off stare, doesn't seem to be all there, put on a few pounds...........it's ok the rapture is near. You and your friends won't have to worry about it soon....you can start working on your long term plan for the farm.
I missed you guys - at least someone that posts fresh ideas and content.
Thanks - I'll check it out!
Another look at real numbers - linkedin saw the 2009 slow down - they went from 100%+ YoY growth in 2008 to 50% in 2009 and then back to 100%+ in 2010 & 2011 but then the law of big numbers catches up and their growth slows.
If you have a superior product you take market share from your competitors in a down turn and can still have growth and then once the 'recession' is over you kill it.
If Sal is still around by Q4 I think you'll hear him talk about yet another restructure and a move into the 'passive' jobseeker and other such mumbo jumbo. But as these numbers clearly show - aggregation not the answer.
Had Monster not let Sal spend money it would have $1.5B in the bank now and be worth $2B. Sal would have been better off investing in real estate or pretty much anything else....It's OVER.
Revenue in million
Year Both Lnkd MWW
2007 - 1,383 - 32 - 1,351
2008 - 1,422 - 79 - 1,343
2009 - 1,025 - 120 - 905
2010 - 1,117 - 243 - 874
2011 - 1,455 - 522 - 993
2012 - 1,862 - 972 - 890
2013 - 2,338 - 1,530 - 808
The fact that the board has not already acted in this manner should lead us all to believe that they either have a relationship with Sal that defies logic, or that they are gullible and themselves immune to reason.
It's not the consumer facing site design. There are plenty of not-so-great competitor sites that are doing better. This issue runs far deeper. The system is far too complex and the competition keeps it simple. But the real issue is one of strategy, execution, and cost. Monster is way too expensive for what it offers. And leadership.... well.... as you have already noted.
Video killed the radio store - International killed the Monster store.
Peak International revenue $153.3M in a quarter (2008 Q1) now $68.3M - 2/3rds of the revenue lost - 65.5%!!!
US $183.5M same quarter now $110.3M down about 1/3rd or 40%.
Monster International used to do almost all of Monster's current career revenue!
Sal and team just butchered the international market - you can't just use the same US web site and change the text - you have to know and go local in those countries. It's not the macro/micro/marble it's just bad management. The company had $500M+ in cash at the start of Sal's reign - he spent $1.3B in cash and prizes (companies) he made the mess.....what a mess.
Monster team how's that job search going - did you sign up for Linkedin premium?
I don't know it's hard to tell because Sal uses Non-GAAP numbers - so he can exclude things.
This quarter they had $194.4M in revenue and $7.0M in net Income - $0.08 per share Non-GAAP.
They said $0.00 to $0.04 Non-GAAP so I think they are saying $4M - $7M less in revenue if costs remain the same. That put's it at $187.5 to $190M but of course they could pull back on some costs if the revenue is even lower.
I would guess $185 +/- $5 anything less than that is going to crush the stock anything more would be a big surprise.
But we are looking at $750M in revenue for the year which is pretty bad or about 1/2 what it was when Sal took over. He claims the world was bad when he took over but he spent $1.3B and they had over $500M in cash when he took over so it's not the previous teams fault - this is all Sal.
Things picked back up in 2011 but by the end it was tanking again - they broke something in 2011 and have never recovered. Even normal growth with everyone else should have them back to $1.3 $1.4B in revenue by now - something is broken.
I hadn't put that together. Great inference, especially for a Monday morning! So what's the number? $172-175 million?
Net Income $7.2M ($0.13 per share)
Adjusted EBITDA $23.2M
Monster Revenue $178.6 (just careers)
Net Income $0.0M (non gaap $7M) or $0.00 per share ($0.08 on gaap)
Adjusted EBITDA $25.6M
So 1/3rd the revenue with real earnings and Adjusted EBITDA of Monster. Plus 28% growth - companies bigger (Linkedin) are better and companies smaller are better. Monster is just a bloated whale sitting on the beach leaking.
Maybe one day Dice would buy Monster and turn it around?
How put a bean counter with no experience running a company - what a mess.
Another low day - as all decisions that Sal makes buying those shares is going to hurt the company in ways he didn't expect. Because of the low trading volume the stock price is going to be even more erratic and I think when the next earnings announcement comes out -
Not sure if it's good or bad or related to the reduced share count from Sal's buybacks? But the volume is really, really, really low compared to averages. Only 230,500 traded one day and just over 400,000 today. I think it's going to make the stock even more volatile especially when earnings are announced - which we know are going to be down.
What big deals have been won, any boomerang customers have come back?
Are all the jobs and resumes making a difference?
Is eCom up?
There has to be something?
Alright - some good positive posts, that are real, with some real data and I won't post until the week before earnings are announced - that's like 7 weeks or something.
Sorry....missed that you were looking for some positive stories of how the plan may be working. I don't have any inside information to share. Obviously I have my take on the plan, but no actual stories to share.
However, based on the past, I'm sure Sal will have 1 story to share on the next call about 1 customer who really loves TwitterCards and/or TalentBin. That was his script in 2012 when he told the anecdotal story that KForce loved PRS/SeeMore and was going to implement it across their entire organization. I think it's now been over a year since he even mentioned SeeMore on a call.
So, I'm sure Sal will have a story to tell. The guy has no clue how to lead a tech company in dire need of innovation. But he sure does know how to spin things to the investors.