July 28, 2011 / 12:52 PM / 7 years ago

UPDATE 3-Monster sees Q3 adj EPS in line with est, shares fall

* Q2 EPS $0.09 vs est $0.08

* Q2 rev up at $269.7 mln, beats Street

* Sees Q3 adj EPS $0.10-$0.14 vs est $0.12

* Shares fall 13 pct (Adds CEO comments, updates share graph)

By Fareha Khan

BANGALORE, July 28 (Reuters) - Online recruiter Monster Worldwide Inc posted quarterly results above estimates, on higher revenue from its career business, and forecast third-quarter adjusted earnings largely in line with estimates.

Monster shares fell as much as 13 percent on Thursday morning to $11.80. They were later down 8 percent at $12.07.

The company, which runs the Monster recruiting website, sees third-quarter adjusted profit of 10-14 cents a share, compared with 12 cents a share, estimated by analysts polled by Thomson Reuters I/B/E/S.

Bookings, an indicator of future revenue, were up 26 percent to $262 million, said the company, which has a market value of about $1.76 billion and competes with CareerBuilder.

Second-quarter net income rose to $11 million, or 9 cents a share, compared with a net loss of $3 million, or 2 cents a share, a year ago.

Sales for the company, which serves customers such as Randstad Holding , rose to $269.7 million from $215 million, while total careers revenue rose 28 percent to $236 million.

Asia, which accounted for about 10-12 percent of total quarterly sales, is growing at a rapid rate, Chief Executive Sal Iannuzzi said. “It is an area of major growth for us.”

Analysts expected 8 cents a share in earnings, before special items, on revenue of $266.1 million.

Earlier this month, Netherlands-based Randstad Holding said it would to buy U.S. peer SFN Group Inc for about $710 million to become the third-largest HR services provider in North America.

“What that demonstrates is the belief ... that the economy in the U.S. will pick up, will grow,” CEO Iannuzzi said.

“That will give us greater returns and allow Monster to grow even more rapidly than we are currently forecasting,” he added. (Reporting by Fareha Khan in Bangalore; Editing by Joyjeet Das)

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