Monster Worldwide Provides Update on ChinaHR (MNST 3Q05 Conf Call Quotes)

Monster Worldwide (ticker: MNST) which earlier this year acquired a 40% stake in Chinese online recruitment site ChinaHR reported Q3 2005 earnings results yesterday. CFO Lanny Baker had the following to say about ChinaHR during management's earnings results conference call:

Meanwhile, in the big long-term opportunity that is China, our partner, China HR, again posted revenue growth in the vicinity of 100% year-to-year.

Below the operating income line, we'll have interest income on our cash balances in the fourth quarter, although at a slightly reduced level compared to the third quarter, given the cash outflow to fund the JobKorea acquisition. We expect a 35% tax rate in the fourth quarter, and we'll report our share of China HR's net losses on our equity interest line, expecting less than a $2 million equity loss for the year.

(Quotes are from the CCBN StreetEvents transcript.)

Related

• For more on ChinaHR competitor 51Job (ticker: JOBS) see here.

MNST chart.