TMP Reports Third Quarter Earnings of 30 Cents Per Share

TMP Worldwide/(NASDAQ:TMPW) reported diluted, adjusted earnings of 30 cents per share on commissions and fees of $339.2 million for the third-quarter ended September 30, a 43 percent increase over earnings per share of 21 cents on a diluted, adjusted basis for the same period one year ago. Commissions and fees for last year's third quarter were $236.6 million. Adjusted net income for the third quarter ended September 30, 2000 was $31.5 million, up 72 percent from $18.3 million for the same period in 1999. Adjusted earnings were also $0.03 or 11 percent greater than First Call analysts' earnings consensus estimate of $0.27. Total Internet commissions and fees for TMP Interactive were $117.4 million for the third quarter ended September 30, 2000, a 192 percent increase over 1999's third quarter total and a 27 percent sequential increase over the $92.3 million for this year's second quarter. Monster.com posted an operating profit of $18.9 million on its commissions and fees of $97.1 million for a 20 percent operating margin in the third quarter of 2000. Executive Search commissions and fees for the third quarter were relatively flat at $47.9 million, compared to $47.8 million for the third quarter of 1999. However, average billings per consultant rose to approximately $250,000 from $185,000 last year as the company now has 65 fewer search consultants than in the same period of 1999.