As previously disclosed, on Wednesday, December 13, 2006, the Company filed an amended annual report for the year ended December 31, 2005, an amended quarterly report for the quarter ended March 31, 2006, and a quarterly report for the quarter ended June 30, 2006.
Monster Worldwide also announced its Board of Directors approved cash payments to certain former employees not involved in the options review to compensate for approximately 230,000 vested options that expired while the company's stock options plan was suspended during the period that the Company was not current in its SEC filings.. The Company expects to record a one-time expense of approximately $5.0 million during the fourth quarter of 2006 in connection with these payments and associated payroll taxes.
About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST) parent company of Monster(R), the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit www.monster.com [1]. More information about Monster Worldwide is available at www.monsterworldwide.com [2].
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K/A and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
SOURCE: Monster Worldwide
Monster Worldwide
Investor Relations:
Robert Jones, 212-351-7032
bob.jones@monsterworldwide.com [3]
or
Media Relations:
Rich Teplitsky, 212-351-7019
rich.teplitsky@monsterworldwide.com [4]