NEW YORK, May 6, 2020 /PRNewswire/ -- DHI Group, Inc.
(NYSE:DHX) ("DHI" or the "Company") today announced the following
financial results for the first quarter ended March 31, 2020.
First Quarter 2020 Financial Results
- Total revenues were $36.6
million, down 1% year over year.
- Dice revenues were $22.5 million,
down 3% year over year.
- eFinancialCareers revenues were $7.2
million, down 12% year over year.
- ClearanceJobs revenues were $6.9
million, up 19% year over year.
- Excluding the impact of foreign exchange, total revenues were
down 1% year over year, while eFinancialCareers was down 10% year
over year.
- Net loss was $6.6 million, or a
loss of $0.13 per diluted share,
which was negatively impacted by $8.3
million, or $0.16 per diluted
share, in impairment and other charges, net of tax, and discrete
tax items. Net income in the year ago quarter was $1.6 million, or $0.03 per diluted share, which was negatively
impacted by $1.8 million, or
$.04 per diluted share, in
disposition and other charges, net of tax, and discrete tax
items.
- Cash flow from operations was $2.9
million compared to $3.2
million in the year-ago quarter.
- Adjusted EBITDA1 was $7.5
million, and Adjusted EBITDA margin1 was 21%
compared to $8.5 million and 23% in
the year-ago quarter.
- Cash was $27.8 million and net
debt1 was $9.2 million.
DHI drew down an incremental $27
million from its $90 million
revolver in the first quarter, of which $25
million was to ensure sufficient liquidity for the
foreseeable future.
Commenting on the quarter, Art
Zeile, President and CEO of DHI Group, Inc., said:
"In the first quarter, we made steady progress on our two key
growth initiatives. Our Dice commercial accounts teams grew
their pipeline and signed on many new clients within the first ten
weeks of the quarter, and in a press release last week
ClearanceJobs announced that it signed on eighteen U.S. government
agencies as new clients.
"Looking ahead, our business model provides us with some
protection and predictability in these uncertain times, as 90% of
our revenues are generated through annual subscription-based
contracts. In fact, as of March
31st, we had already booked over two-thirds of our total
revenue for fiscal 2020. While it is impossible to predict what
impact COVID-19 will have on our clients, we are confident in the
investments we have made in innovation and sales, and remain
focused on the continued execution of our business plan."
Product Highlights
Below are the product highlights delivered during the first
quarter:
Dice
- Integrated IntelliSearch with Dice Jobs Management console.
This marque release demonstrates the value of DHI's patent-pending
technology skills data model. When a client posts a new tech job,
IntelliSearch automatically generates a list of qualified
candidates from the Dice database. The technologist recruitment
process is about gaining access to the right skill sets and this
powerful tool allows Dice clients to save time in their search
process. Moved 100% of the Dice audience to a new Dice homepage
that includes a modern layout and navigation scheme. Additionally,
DHI added a Private Email feature, which enables Dice candidates to
protect their personal email address and only share it with
recruiters when they choose. Dice Private Email encourages
candidates to make their profiles visible and up to date,
increasing the breadth of talent visible to DHI's clients.
eFinancialCareers
- Launched Job Alerts. With this release, eFC and Dice are now on
a common DHI Job Search and Alerts platform, illustrating DHI's
"code once deploy many" strategy across its brands. Helping
candidates find jobs that fit their skills and interests is the top
priority of DHI's Job Search
engineering team. The new Job Alerts release is a significant step
forward toward eFC's objective of having a best-in-class search
experience for its candidates.
ClearanceJobs
- Launched CJ Favorites. This feature allows ClearanceJobs'
clients to keep tabs on top candidate prospects, receive alerts
when they are active on the site, and engage when they are
receptive to contact. CJ continues to be DHI's testbed for key
market leading features.
Business Outlook
"In March, when we first began seeing the broader impact of
COVID-19 on the economy, we drew down $25
million of our revolver as a precautionary measure,"
commented Kevin Bostick, CFO of DHI
Group, Inc. "This additional cash on our balance sheet will ensure
we can manage through any economic fluctuations. In addition
to strengthening our balance sheet, we evaluated our entire cost
structure. We are confident we can balance our costs with our
revenue opportunity, maintain our employee base, continue investing
in long term growth, and support our customers in these challenging
times. While we are not providing specific guidance at this
point, we continue to operate the business to Adjusted EBITDA
margins1 in the 20%
range."
Share Buyback Program
Reauthorized
In May 2020, the Board of
Directors authorized a new stock repurchase program that permits
the purchase of up to $5 million of
the Company's common stock. The new authorization is effective upon
the expiration of the existing $7
million stock repurchase program and will be in effect for
one year. Under the plan, management has discretion in determining
the conditions under which shares may be purchased from time to
time.
Conference Call Information
Art Zeile, President and Chief
Executive Officer, and Kevin
Bostick, Chief Financial Officer, will host a conference
call today, May 6, 2020, at
5:00 p.m. Eastern Time to discuss the
Company's financial results, recent developments and progress on
its tech-focused strategy.
The call can be accessed by dialing 844-890-1790 (in the U.S.)
or 412-380-7407 (outside the U.S.). Please ask to be placed into
the DHI Group, Inc. call. A live webcast of the call will
simultaneously be available through the Investor Relations section
of the Company's website, https://www.dhigroupinc.com,
and available for replay after the call ends.
About DHI Group, Inc.
DHI Group, Inc (NYSE: DHX) is a provider of software products,
online tools and services to deliver career marketplaces to
candidates and employers globally. DHI's three brands—Dice,
ClearanceJobs and eFinancialCareers— enable recruiters and hiring
managers to efficiently search, match and connect with highly
skilled technologists in specialized fields, particularly
technology, those with active government security clearances and in
financial services. Professionals find ideal employment
opportunities, relevant job advice and personalized data to best
manage their whole technologist life. For nearly 30 years, we have
leveraged the latest technology to foster career connections in
multiple markets including North
America, Europe, the
Middle East and the Asia Pacific region. Find out more at
www.dhigroupinc.com.
Investor Contact
Todd
Kehrli or Jim Byers
MKR Investor Relations, Inc.
212-448-4181
ir@dhigroupinc.com
Media Contact
Rachel
Ceccarelli
Senior Director Communications
212-448-8288
media@dhigroupinc.com
Notes Regarding the Use of Non-GAAP Financial
Measures
The Company has provided certain non-GAAP financial information
as additional information for its operating results. These measures
are not in accordance with, or an alternative for, measures in
accordance with generally accepted accounting principles in
the United States ("GAAP") and may
be different from similarly titled non-GAAP measures reported by
other companies. The Company believes that its presentation of
non-GAAP measures, such as Adjusted EBITDA, Adjusted EBITDA margin,
and Net Debt provides useful information to management and
investors regarding certain financial and business trends relating
to its financial condition and results of operations. In addition,
the Company's management uses these measures for reviewing the
financial results of the Company and for budgeting and planning
purposes. The non-GAAP measures apply to consolidated results and
results by segment or other measure as shown within this document.
The Company has provided required reconciliations to the most
comparable GAAP measures elsewhere in the document.
Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP metrics
used by management to measure operating performance. Management
uses Adjusted EBITDA as a performance measure for internal
monitoring and planning, including preparation of annual budgets,
analyzing investment decisions and evaluating profitability and
performance comparisons between us and our competitors. The Company
also uses this measure to calculate amounts of performance based
compensation under the senior management incentive bonus program.
Adjusted EBITDA represents net income plus (to the extent deducted
in calculating such net income) interest expense, income tax
expense, depreciation and amortization, non-cash stock based
compensation, losses resulting from certain dispositions outside
the ordinary course of business including prior negative operating
results of those divested businesses, certain writeoffs in
connection with indebtedness, impairment charges with respect to
long-lived assets, expenses incurred in connection with an equity
offering or any other offering of securities by the Company,
extraordinary or non-recurring non-cash expenses or losses,
transaction costs in connection with the credit agreement, deferred
revenues written off in connection with acquisition purchase
accounting adjustments, writeoff of non-cash stock based
compensation expense, severance and retention costs related to
dispositions and reorganizations of the Company, losses related to
legal claims and fees that are unusual in nature or infrequent,
minus (to the extent included in calculating such net income)
non-cash income or gains, interest income, business interruption
insurance proceeds, and any income or gain resulting from certain
dispositions outside the ordinary course of business, including
prior positive operating results of those divested businesses, and
gains related to legal claims that are unusual in nature or
infrequent.
We also consider Adjusted EBITDA, as defined above, to be an
important indicator to investors because it provides information
related to our ability to provide cash flows to meet future debt
service, capital expenditures and working capital requirements and
to fund future growth. We present Adjusted EBITDA as a supplemental
performance measure because we believe that this measure provides
our board of directors, management and investors with additional
information to measure our performance, provide comparisons from
period to period and company to company by excluding potential
differences caused by variations in capital structures (affecting
interest expense) and tax positions (such as the impact on periods
or companies of changes in effective tax rates or net operating
losses), and to estimate our value.
Adjusted EBITDA Margin is computed as Adjusted EBITDA divided by
Revenues.
Adjusted EBITDA and Adjusted EBITDA Margin are not measurements
of our financial performance under GAAP and should not be
considered as an alternative to revenue, net income, operating
income, cash provided by operating activities, or any other
performance measures derived in accordance with GAAP as a measure
of our profitability.
Net Debt
Net Debt is defined as total principal outstanding debt less
cash and cash equivalents. We consider Net Debt to be an important
measure of liquidity and indicator of our ability to meet ongoing
obligations. We also use Net Debt, among other measures, in
evaluating our choices for capital deployment. Net Debt presented
herein is a non-GAAP measure and may not be comparable to similarly
titled measures used by other companies.
Forward-Looking Statements
This press release and oral statements made from time to time by
our representatives contain forward-looking statements. You should
not place undue reliance on those statements because they are
subject to numerous uncertainties and factors relating to our
operations and business environment, all of which are difficult to
predict and many of which are beyond our control. Forward-looking
statements include, without limitation, information concerning our
possible or assumed future results of operations. These statements
often include words such as "may," "will," "should," "believe,"
"expect," "anticipate," "intend," "plan," "estimate" or similar
expressions. These statements are based on assumptions that we have
made in light of our experience in the industry as well as our
perceptions of historical trends, current conditions, expected
future developments and other factors we believe are appropriate
under the circumstances. Although we believe that these
forward-looking statements are based on reasonable assumptions, you
should be aware that many factors could affect our actual financial
results or results of operations and could cause actual results to
differ materially from those in the forward-looking statements.
These factors include, but are not limited to, our ability to
execute our tech-focused strategy, competition from existing and
future competitors in the highly competitive markets in which we
operate, failure to adapt our business model to keep pace with
rapid changes in the recruiting and career services business,
failure to maintain and develop our reputation and brand
recognition, failure to increase or maintain the number of
customers who purchase recruitment packages, cyclicality or
downturns in the economy or industries we serve, the impact of the
coronavirus COVID-19 outbreak on our operations and financial
results, the uncertainty in respect of the regulation of data
protection and data privacy, failure to attract qualified
professionals to our websites or grow the number of qualified
professionals who use our websites, failure to successfully
identify or integrate acquisitions, U.S. and foreign government
regulation of the Internet and taxation, our ability to borrow
funds under our revolving credit facility or refinance our
indebtedness and restrictions on our current and future operations
under such indebtedness. These factors and others are discussed in
more detail in the Company's filings with the Securities and
Exchange Commission, all of which are available on the Investors
page of our website at www.dhigroupinc.com, including the Company's
most recently filed periodic reports on Form 10-K and Form 10-Q and
subsequent filings under the headings "Risk Factors,"
"Forward-Looking Statements" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations." You
should keep in mind that any forward-looking statement made by the
Company or its representatives herein, or elsewhere, speaks only as
of the date on which it is made. New risks and uncertainties come
up from time to time, and it is impossible to predict these events
or how they may affect us. We have no obligation to update any
forward-looking statements after the date hereof, except as
required by federal securities laws.
1 See "Notes Regarding the Use of
Non-GAAP Financial Measures" later in this press
release.
DHI GROUP, INC.
|
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
|
(Unaudited)
|
(in thousands, except per share
amounts)
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended
March 31,
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Revenues
|
$
|
36,633
|
|
|
$
|
37,120
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
Cost of
revenues
|
4,176
|
|
|
3,825
|
|
Product
development
|
4,165
|
|
|
4,196
|
|
Sales and
marketing
|
14,538
|
|
|
14,279
|
|
General and
administrative
|
8,551
|
|
|
7,928
|
|
Depreciation
|
3,253
|
|
|
2,425
|
|
Impairment of
intangible assets
|
7,200
|
|
|
—
|
|
Disposition related
and other costs
|
—
|
|
|
875
|
|
|
|
Total operating
expenses
|
41,883
|
|
|
33,528
|
|
Operating income
(loss)
|
(5,250)
|
|
|
3,592
|
|
Interest expense and
other
|
(183)
|
|
|
(105)
|
|
Impairment of equity
investment
|
(2,002)
|
|
|
—
|
|
Income (loss) before
income taxes
|
(7,435)
|
|
|
3,487
|
|
Income tax expense
(benefit)
|
(885)
|
|
|
1,899
|
|
Net income
(loss)
|
$
|
(6,550)
|
|
|
$
|
1,588
|
|
|
|
|
|
|
|
|
Basic earnings (loss)
per share
|
$
|
(0.13)
|
|
|
$
|
0.03
|
|
Diluted earnings
(loss) per share
|
$
|
(0.13)
|
|
|
$
|
0.03
|
|
|
|
|
|
|
|
|
Weighted average
basic shares outstanding
|
49,134
|
|
|
48,103
|
|
Weighted average
diluted shares outstanding
|
49,134
|
|
|
50,330
|
|
DHI GROUP,
INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(Unaudited)
|
(in
thousands)
|
|
|
For the three
months
ended March 31,
|
|
|
|
2020
|
|
2019
|
Cash flows from
operating activities:
|
|
|
|
Net income
(loss)
|
$
|
(6,550)
|
|
|
$
|
1,588
|
|
Adjustments to
reconcile net income to net cash flows from (used in) operating
activities:
|
|
|
|
Depreciation
|
3,253
|
|
|
2,425
|
|
Deferred income
taxes
|
(1,262)
|
|
|
(55)
|
|
Amortization of
deferred financing costs
|
37
|
|
|
37
|
|
Stock based
compensation
|
1,796
|
|
|
1,458
|
|
Impairment of
intangible assets
|
7,200
|
|
|
—
|
|
Impairment of equity
investment
|
2,002
|
|
|
—
|
|
Change in accrual for
unrecognized tax benefits
|
(81)
|
|
|
121
|
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
(2,111)
|
|
|
(2,209)
|
|
Prepaid expenses and
other assets
|
42
|
|
|
376
|
|
Capitalized contract
costs
|
859
|
|
|
708
|
|
Accounts payable and
accrued expenses
|
(6,768)
|
|
|
(7,619)
|
|
Income taxes
receivable/payable
|
154
|
|
|
1,496
|
|
Deferred
revenue
|
4,382
|
|
|
4,785
|
|
Other, net
|
(20)
|
|
|
127
|
|
Net cash flows from
operating activities
|
2,933
|
|
|
3,238
|
|
Cash flows used in
investing activities:
|
|
|
|
Purchases of fixed
assets
|
(4,288)
|
|
|
(3,052)
|
|
Net cash flows used
in investing activities
|
(4,288)
|
|
|
(3,052)
|
|
Cash flows from (used
in) financing activities:
|
|
|
|
Payments on long-term
debt
|
(2,000)
|
|
|
(15,000)
|
|
Proceeds from
long-term debt
|
29,000
|
|
|
14,000
|
|
Payments under stock
repurchase plan
|
(1,643)
|
|
|
(491)
|
|
Purchase of treasury
stock related to vested restricted stock and performance stock
units
|
(1,348)
|
|
|
(532)
|
|
Net cash flows from
(used in) financing activities
|
24,009
|
|
|
(2,023)
|
|
Effect of exchange
rate changes
|
(212)
|
|
|
59
|
|
Net change in cash
and cash equivalents for the period
|
22,442
|
|
|
(1,778)
|
|
Cash and cash
equivalents, beginning of period
|
5,381
|
|
|
6,472
|
|
Cash and cash
equivalents, end of period
|
$
|
27,823
|
|
|
$
|
4,694
|
|
DHI GROUP, INC.
|
CONDENSED CONSOLIDATED BALANCE
SHEETS
|
(Unaudited)
|
(in thousands)
|
|
|
|
|
|
|
ASSETS
|
March 31, 2020
|
|
December 31, 2019
|
Current
assets
|
|
|
|
|
Cash and cash
equivalents
|
$
|
27,823
|
|
|
$
|
5,381
|
|
|
Accounts receivable,
net
|
22,982
|
|
|
21,158
|
|
|
Income taxes
receivable
|
2,072
|
|
|
2,353
|
|
|
Prepaid and other
current assets
|
3,827
|
|
|
4,180
|
|
|
|
Total current assets
|
56,704
|
|
|
33,072
|
|
Fixed assets,
net
|
21,126
|
|
|
20,352
|
|
Acquired intangible
assets
|
31,800
|
|
|
39,000
|
|
Capitalized contract
costs
|
6,579
|
|
|
7,515
|
|
Goodwill
|
152,305
|
|
|
156,059
|
|
Deferred income
taxes
|
7
|
|
|
7
|
|
Operating lease
right-of-use asset
|
18,383
|
|
|
19,712
|
|
Other
assets
|
824
|
|
|
2,604
|
|
|
|
Total assets
|
$
|
287,728
|
|
|
$
|
278,321
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS'
EQUITY
|
|
|
|
Current
liabilities
|
|
|
|
|
Accounts payable and
accrued expenses
|
$
|
11,857
|
|
|
$
|
18,908
|
|
|
Operating lease
liabilities
|
3,417
|
|
|
3,643
|
|
|
Deferred
revenue
|
54,838
|
|
|
50,568
|
|
|
Income taxes
payable
|
847
|
|
|
984
|
|
|
|
Total current liabilities
|
70,959
|
|
|
74,103
|
|
Long-term debt,
net
|
36,472
|
|
|
9,435
|
|
Deferred income
taxes
|
11,530
|
|
|
12,823
|
|
Deferred
revenue
|
691
|
|
|
1,058
|
|
Accrual for
unrecognized tax benefits
|
1,706
|
|
|
1,787
|
|
Operating lease
liabilities
|
15,546
|
|
|
16,664
|
|
Other long-term
liabilities
|
1,225
|
|
|
1,256
|
|
|
|
Total liabilities
|
138,129
|
|
|
117,126
|
|
|
|
Total stockholders' equity
|
149,599
|
|
|
161,195
|
|
|
|
Total liabilities and stockholders'
equity
|
$
|
287,728
|
|
|
$
|
278,321
|
|
|
|
|
|
|
|
Supplemental Information and Non-GAAP
Reconciliations
On the pages that follow, the Company has provided certain
supplemental information that we believe will assist the reader in
assessing our business operations and performance, including
certain non-GAAP financial information and required reconciliations
to the most comparable GAAP measure. A statement of operations and
statement of cash flows for the three month periods ended
March 31, 2020 and 2019 and balance
sheets as of March 31, 2020 and
December 31, 2019 are provided
elsewhere in this press release.
DHI GROUP, INC.
|
NON-GAAP SUPPLEMENTAL DATA
|
(Unaudited)
|
(dollars in thousands, except per customer
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended March 31,
|
|
|
2020
|
|
2019
|
Reconciliation of Net
Income (loss) to Adjusted EBITDA:
|
|
|
|
Net income (loss)
|
$
|
(6,550)
|
|
|
$
|
1,588
|
|
|
Interest
expense
|
179
|
|
|
109
|
|
|
Income tax
expense
|
(885)
|
|
|
1,899
|
|
|
Depreciation
|
3,253
|
|
|
2,425
|
|
|
Non-cash stock based
compensation
|
1,796
|
|
|
1,458
|
|
|
Disposition related
and other costs
|
—
|
|
|
875
|
|
|
Legal contingencies
and related fees
|
—
|
|
|
144
|
|
|
Impairment of
intangible assets
|
7,200
|
|
|
—
|
|
|
Impairment of equity
investment
|
2,002
|
|
|
—
|
|
|
Severance and related
costs
|
518
|
|
|
—
|
|
|
Other
|
4
|
|
|
(4)
|
|
Adjusted
EBITDA
|
$
|
7,517
|
|
|
$
|
8,494
|
|
|
|
|
|
Reconciliation of
Operating Cash Flows to Adjusted EBITDA:
|
|
|
|
Net cash provided by operating
activities
|
$
|
2,933
|
|
|
$
|
3,238
|
|
|
Interest
expense
|
179
|
|
|
109
|
|
|
Amortization of
deferred financing costs
|
(37)
|
|
|
(37)
|
|
|
Income tax
expense
|
(885)
|
|
|
1,899
|
|
|
Deferred income
taxes
|
1,262
|
|
|
55
|
|
|
Change in accrual for
unrecognized tax benefits
|
81
|
|
|
(121)
|
|
|
Change in accounts
receivable
|
2,111
|
|
|
2,209
|
|
|
Change in deferred
revenue
|
(4,382)
|
|
|
(4,785)
|
|
|
Disposition related
and other costs
|
—
|
|
|
875
|
|
|
Legal contingencies
and related fees
|
—
|
|
|
144
|
|
|
Severance and related
costs
|
518
|
|
|
—
|
|
|
Changes in working
capital and other
|
5,737
|
|
|
4,908
|
|
Adjusted
EBITDA
|
$
|
7,517
|
|
|
$
|
8,494
|
|
|
|
|
|
|
Dice Recruitment Package
Customers
|
|
|
|
Beginning of
period
|
6,000
|
|
|
6,200
|
|
End of
period
|
5,850
|
|
|
6,100
|
|
|
|
|
|
|
Average for the
period (1)
|
5,900
|
|
|
6,100
|
|
|
|
|
|
|
Dice Average Monthly Revenue per Recruitment Package
Customer (2)
|
$
|
1,153
|
|
|
$
|
1,134
|
|
|
|
|
|
|
(1) Reflects the daily average of
recruitment package customers during the period.
|
(2) Reflects the simple average of each
period presented.
|
Summary of Deferred
Revenue and Backlog:
|
|
March 31, 2020
|
|
December 31, 2019
|
|
Deferred
Revenue
|
|
|
$
|
55,529
|
|
|
$
|
51,626
|
|
|
Contractual
commitments not invoiced
|
|
|
24,869
|
|
|
37,093
|
|
|
Backlog3
|
|
|
$
|
80,398
|
|
|
$
|
88,719
|
|
|
|
|
|
|
|
|
|
(3) Backlog consists of deferred revenue
plus customer contractual commitments not invoiced representing the
value of future services to be rendered under committed
contracts.
|
DHI GROUP, INC.
|
NON-GAAP SUPPLEMENTAL DATA
(CONTINUED)
|
(Unaudited)
|
(in thousands)
|
|
Reconciliation of
Debt to Net Debt:
|
|
March 31, 2020
|
|
December 31, 2019
|
|
Long term debt, net
|
|
|
$
|
36,472
|
|
|
$
|
9,435
|
|
|
Add: Deferred
financing costs
|
|
|
528
|
|
|
565
|
|
|
Principal debt
outstanding
|
|
|
37,000
|
|
|
10,000
|
|
|
Less: Cash and cash
equivalents
|
|
|
27,823
|
|
|
5,381
|
|
|
Net Debt
|
|
|
$
|
9,177
|
|
|
$
|
4,619
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
Q1 2020
|
|
Q1 2019
|
|
Change
|
|
$ Fx Impact1
|
Dice
|
|
$
|
22,485
|
|
|
$
|
23,146
|
|
|
(3)%
|
|
$
|
—
|
|
eFinancialCareers
|
|
7,248
|
|
|
8,192
|
|
|
(12)%
|
|
(130)
|
|
ClearanceJobs
|
|
6,900
|
|
|
5,782
|
|
|
19%
|
|
—
|
|
Total Revenues
|
|
$
|
36,633
|
|
|
$
|
37,120
|
|
|
(1)%
|
|
$
|
(130)
|
|
|
|
|
|
|
|
|
|
|
Net Income (loss)2
|
|
$
|
(6,550)
|
|
|
$
|
1,588
|
|
|
|
|
|
Diluted earnings (loss) per
share2
|
|
$
|
(0.13)
|
|
|
$
|
0.03
|
|
|
|
|
|
Adjusted
EBITDA
|
|
$
|
7,517
|
|
|
$
|
8,494
|
|
|
|
|
|
Adjusted EBITDA
Margin
|
|
21%
|
|
|
23%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Foreign exchange
impact is calculated by determining the increase (decrease) in
current period revenues where current period revenues are
translated using prior period exchange rates.
|
(2) For the three
months ended March 31, 2020, the Company recorded impairment and
other charges, net of tax, and discrete tax items of $8.3 million,
or $0.16 per diluted share.
|
View original
content:http://www.prnewswire.com/news-releases/dhi-group-reports-first-quarter-2020-financial-results-301054215.html
SOURCE DHI Group, Inc.