Dice Holdings posts 46 percent decline in 1st-quarter profit

NEW YORK—Dice Holdings Inc., which operates career Web site Dice.com, said Tuesday its first-quarter profit declined 46 percent on higher expenses and a charge that weighed down results.

Earnings declined to $4.3 million, or 6 cents per share, from $7.9 million, a year ago. The company went public in July.

Income from continuing operations for the most recent quarter included a one-time $2.3 million charge due to an accounting change.

Revenue increased 30 percent to $39.6 million, from $30.4 million a year ago, helped by revenue from its eFinancialCareers acquisition.

Analysts polled by Thomson Financial, on average, expected profit of 6 cents per share, on revenue of $39.7 million.

"Our solid financial performance continued in the first quarter, led by eFinancialCareers which exceeded our expectations for both growth and profitability," President and Chief Executive Scot Melland said in a statement.

During the quarter, total operating expenses rose 13 percent, to $29.1 million. Sales and marketing expenses rose 13 percent, to $14.9 million.

In morning trading, shares of Dice Holdings slipped 32 cents, or 4.4 percent, to $6.98.