Webhire, Inc. Announces Fiscal Third Quarter Results
LEXINGTON, Mass.--(BUSINESS WIRE)--July 20, 1999--Webhire, Inc. (NASDAQ:HIRE), the leader in Internet recruiting solutions, today announced its fiscal third quarter results for the period ended June 30, 1999.
Total revenue for the third fiscal quarter of 1999 was $6,146,000 compared to $7,940,000 in the third quarter of fiscal 1998. The third quarter net loss of ($4,950,000) or ($.49) per share compared to net income of $507,000 or $.06 per share for the 1998 period. For the nine months ended June 30, 1999, total revenue was $18,971,000 compared to $22,712,000 for the comparable 1998 period. The net loss for the nine months ended June 30, 1999 was ($10,691,000) or ($1.10) per share, compared to net income of $.10 per share for the nine months ended June 30, 1998.
''Our e-commerce business continues to grow as companies shift to Internet recruiting models,'' said Martin J. Fahey, Webhire president. ''We experienced an more than 50% increase in customer enrollments for our Webhire Recruiter solution during our fiscal third quarter. We now have more than 2500 HR professionals at more than 165 companies using Webhire Recruiter. We will continue our strategic investments in our Internet business to extend our market-leading position.''
About Webhire, Inc.
Webhire is the leading provider of end-to-end Internet recruiting solutions that help employers use the Web to quickly and cost-effectively connect with job-seekers and efficiently manage the hiring process. Offerings include Webhire JobPost, a fully automated job posting solution based on Junglee technology; Webhire Recruiter, an outsourced candidate management service on the Web, and Webhire Enterprise, a comprehensive intranet-based recruiting suite for large enterprises. All Webhire solutions leverage the Webhire Network, the largest open network of Internet recruiting sites and service providers with more than 60 job board destination partners including Yahoo! Employment, Monster.com, AOL Digital Cities, Career Magazine, Black Voices and Computerworld.com. More than 1,000 organizations, from fast-growing companies like Millennium Pharmaceuticals and Rational Software to Fortune 500 enterprises such as American Express, Boeing and Microsoft, depend on Webhire solutions for some or all of their recruiting automation needs. More information about Webhire is available on the World Wide Web at www.webhire.com or by calling 1- 877-WEBHIRE. Webhire, based in Lexington, Mass. is traded on the Nasdaq National Market under the ticker symbol HIRE.
Webhire, Webhire JobPost and Webhire JobCanopy, HireWorks and HireFast are trademarks of Webhire, Inc. All other products and trademarks mentioned may be registered trademarks or trademarks of their respective owners.
This press release contains 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. The Company's actual results could differ materially from those set forth in the forward-looking statements. Factors that might cause such a difference include changes in technology and industry standards, increased competition, the size and rate of growth of the market for human resources staffing software and services and market acceptance of the Company's products and services and those of its competitors.
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