NEW YORK--(BUSINESS WIRE)--August 3, 1999--
Reports record commissions & fees of $26.0 million;
Up 137% from the second quarter of the previous year and
Up 27% from the first quarter of 1999
Fifth Consecutive Quarter of Profitability
TMP Worldwide Inc., (NASDAQ: "TMPW"; ASX: "TMP") today announced that the company's Interactive Operations, led by Monster.com posted revenue of $26.0 million for the second quarter of 1999, an increase of 136.8% from $11.0 million for the prior year period. Operating profit for this quarter was a record $1.2 million, compared to $600,000 for the second quarter of 1998.
Anchored by Monster.com., TMP Worldwide has been successful in building the dominant global position in the online recruiting category. As competition in the online job search marketplace increases, Monster.com continues to lead by providing the largest community of targeted users with the best career management and employee recruitment services. TMP launched Monster.com's national advertising campaign during the Super Bowl this year and will continue its television, radio and print marketing campaign in order to promote its leadership position in online careers and increase brand awareness among consumers.
Andrew J. McKelvey, chairman and CEO of TMP Worldwide stated, "It was another strong quarter, with our Interactive Operations accomplishing what all Internet companies strive for -profitable growth. This outstanding achievement is attributed to our global infrastructure, which allows our various sales forces to introduce current and potential clients around the world to the power of online recruiting. We are fully committed to further increasing the size of our already substantial global "Intern-to CEO" network."
Monster.com was launched in mid-January of 1999 as a result of the merger of the number-one and number-four rated online recruitment sites, The Monster Board(R) and Online Career Center, respectively, both owned by TMP Worldwide.
"The Internet has become an absolute necessity for the recruiters and the job seekers," said Jeff Taylor, CEO of TMP Interactive. "It is imperative for us to continue to demonstrate to this audience our commitment to provide them with the best tool possible to achieve their goals. Thus far, we have clearly demonstrated this commitment, as Monster.com has become the site people think of when the words "job" or "career" come to mind," he continued.
According to independent research conducted by Media Metrix, 4.2% of the entire U.S. Internet population visited Monster.com during the month of June. This represents nearly twice as many unique visitors as its closest competitor. Monster.com is currently the 71st most often visited of all Internet sites and the 18th most popular in the Media Metrix category ranking of news, information and entertainment sites.
Monster.com has also received 122 million page views in June from 8.1 million unique visits per month, and currently, commands a visit time of approximately 15 minutes. The site offers more than 240,000 job opportunities and a resume database containing more than 1.6 million unique resumes.
On July 4, 1999, Monster.com launched its newest service, The Monster Talent Market, a marketplace within Monster.com where free agents, consultants and independent professionals can market their skills in real time to employers in an innovative auction- style environment, creating a new relationship between talent supply and demand on the Web.
"Our newest service, Monster Talent Market, is fundamentally changing the whole way people find employment," commented Mr. Taylor. "The continuing increase in traffic is a clear indication that the site offers the right tools, empowering job seekers and providing employers with faster access to talent."
"As our investors certainly recognize, we at TMP understand the power and dynamic nature of `.com'. We are continuing to grow in the number of job postings paid for by our clients and the number of visitors to our site, thereby positioning ourselves as the service provider with the best and broadest menu," added Mr. McKelvey.
Special Note
The above statements include forward-looking statements based on current management expectations. Factors that could cause future results to differ from these expectations include: risks associated with acquisitions, competition and seasonality. Additional factors are described in the company's reports filed with the Securities and Exchange Commission.
About Monster.com
Monster.com (www.monster.com), the flagship product of the Interactive Division of TMP Worldwide, is the leading, global online network for careers, connecting the most progressive companies with the most qualified career-minded individuals. Monster.com is committed to leading the market by offering innovative technology and superior services that give consumers and businesses more control over the recruiting process. The Monster.com network currently consists of websites in the United States, Canada, the United Kingdom, the Netherlands, Australia, Belgium and France. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER.
About TMP Worldwide
Founded in 1967, TMP Worldwide, now with more than 5,700 employees in 25 countries, is the online recruitment leader, the world's largest recruitment advertising agency network, and one of the world's largest search and selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest yellow page advertising agency and a provider of direct marketing services. The company's clients include more than 80 of the Fortune 100 and more than 400 of the Fortune 500 companies.
The Monster Board is a registered trademark of TMP Worldwide.
NOTE TO EDITORS: For more information about TMP Worldwide's second quarter earnings for fiscal 1999, please refer to TMP Worldwide earnings release dated August 3, 1999.
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