Electronic
Recruiting
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John Sumser presents the interbiznet Bugler
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interbiznet presents The Bugler
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May 17, 2007
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NEW:
Presentation from John and Bridget Sumser, Rethinking The Workforce is available for download.
Ten Principles for Recruiting An Integenerational Workforce from John Sumser.
Recruitosphere, Recruitiny, Recrunity, Recruitile,
Recruitopia
It's been about seven weeks since I agreed to be
the executive editor of Recruiting.com. Following some hazing by a small number
of very vocal players, it's been a quiet time. I've been more or less on the
road constantly since then.
As I've traveled, I've been reading the
collective writings of Recruiters who blog to the best of my ability. You can
see the immediate consequences of that process in the daily "Read Five". These
are posts and articles that I found interesting and useful enough to give some
additional visibility. In general, one out of ten things I read makes it to the
list.
(Read More)
NOTE:
Please send news and events to carrie.baggs at gmail.com for publication in the Bugler.
Reveille and Hyperbole:
Award winning, UK-based Eutopia Solutions and leading US search firm The Franklin Career Group have announced a transatlantic strategic business partnership to enhance the service quality provided on international staffing placements.
Veritude, a full-service talent solutions provider, announced it has been selected by TTI, Inc., the world's leading passive and connector specialist in the electronics industry, to support their nationwide talent acquisition efforts. Fort Worth, Texas-based TTI is the distributor of choice for industrial and consumer electronic manufacturers worldwide. Earlier this year, TTI was acquired by Berkshire Hathaway, Inc.
To honor the personal sacrifices the men and women of the armed forces and their families have made, Congress has designated May as National Military Appreciation Month (NMAM). For a list of local events in each state, visit NMAM's official website.
Military.com, a Monster Worldwide property, offers free resources to serve, connect and inform the 30 million Americans with military affinity as well as those considering military careers.
SPECTRUM Human Resource Systems Corporation, a leader in human resource information systems, has been nominated to the 2007 CSIA APEX Awards, the year's premier event for recognizing outstanding accomplishments and leadership by Colorado's advanced technology companies and people. The event, presented by CSIA, Colorado's Technology Association, will take place June 5, 2007 at the Seawell Ballroom in the Denver Center for Performing Arts Complex in Denver.
Deep Release:
Salary.com Reports Fourth Quarter and Fiscal 2007 Financial Results
Fourth quarter revenue increases 42% on a year-over-year basis
Full year fiscal 2007 revenue increases 51% on a year-over-year basis
Full year fiscal 2007 cash from operations increases 71% on a year-over-year basis and represents 13% of revenue
Salary.com, Inc. (NASDAQ: SLRY), a leading provider of on-demand compensation management solutions, today announced results for its fourth quarter and fiscal year, ended March 31, 2007. For the full year fiscal 2007, revenue of $23.0 million increased 51% compared to fiscal 2006. Revenue in the fourth quarter was $6.4 million, an increase of 42% from the fourth quarter of fiscal 2006.
For the twelve months ended March 31, 2007, cash flow from operations was $3.1 million, an increase of 71% from fiscal 2006. Non-GAAP cash flow from operations (excluding capitalized IPO costs) in the fourth quarter of 2007 was $2.4 million, an increase of 236% from the fourth quarter of fiscal 2006. GAAP cash flow from operations was $1.1 million for the fourth quarter of 2007.
Kent Plunkett, Chairman, President, and Chief Executive Officer noted, "We were pleased with Salary.com's fourth quarter and full year fiscal 2007 results, which were highlighted by strong growth in revenue and cash flow. Market demand and awareness is increasing in the compensation management and talent management markets. Salary.com is benefiting from these trends due to our leadership position in compensation management, domain expertise, proprietary technology and data sets, and our large and growing customer base."
Plunkett added, "We also announced today that Salary.com has acquired ICR Limited L.C., a premier provider of global compensation data primarily in the high-tech vertical and consumer retail markets. This is a highly strategic acquisition for Salary.com as it expands our vertical expertise and adds global coverage in over 60 countries. This marks Salary.com's entrance into the international markets, and we are extremely focused on expanding our compensation management leadership position on a global basis. With strong momentum in Salary.com's business, and the addition of ICR Limited L.C., we are optimistic about our fiscal 2008 and long-term outlook."
On a GAAP basis, Salary.com reported a net loss attributable to common stockholders of $4.1 million in the fourth quarter of fiscal 2007, compared to a net loss of $1.3 million in the fourth quarter of 2006.
On a non-GAAP basis, excluding the impact of stock-based compensation expense, amortization of intangibles, and accretion of preferred stock, Salary.com reported a net loss attributable to common stockholders of $1.2 million in the fourth quarter of fiscal 2007, compared to $0.7 million in the fourth quarter of 2006.
A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
Cash and equivalents of at the end of the fourth quarter of 2006 were $49.0 million, compared to $1.8 million a year ago, primarily due to proceeds from the company's initial public offering, which was completed in February 2007. Current deferred revenue grew to $15.5 million at March 31, 2007, an increase of 56% compared to the end of fiscal 2006. Total deferred revenue was $16.4 million at March 31, 2007, which also represented an increase of 55% compared to the end of fiscal 2006.
Ken Goldman, Salary.com's Senior Vice President and Chief Financial Officer said, "Our subscription-based, on-demand business model provides Salary.com with a high degree of revenue visibility and predictability. In addition, because most of our customers are billed up front for their annual subscription and we recognize revenue ratably over the course of the contract, we believe cash flow provides the most meaningful way to evaluate our profitability. Salary.com has generated positive cash from operations in the past 4 years, and, during fiscal 2007, we generated strong and growing cash from operations that represented 13% of our revenue."
Full Year Fiscal 2007 Results
For the full year fiscal 2007, revenue of $23.0 million increased 51% compared to fiscal 2006.
On a GAAP basis, Salary.com reported a net loss attributable to common stockholders of $8.6 million for the full year fiscal 2007, compared to a net loss of $3.6 million in fiscal 2006.
On a non-GAAP basis, excluding the impact of stock-based compensation expense, amortization of intangibles, and accretion of preferred stock, Salary.com reported a net loss attributable to common stockholders of $3.6 million for the full year fiscal 2007, compared to $2.1 million in fiscal 2006.
A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Reconciliation of Non-GAAP Measures."
Business Outlook
For the full year fiscal 2008, Salary.com expects total revenue in the range of $32.5 million to $33.7 million. Cash flow from operations is expected to be in the range of $7.6 million to $8.0 million for the full fiscal year. Non-GAAP loss, which excludes the non-cash impact of stock-based compensation expense and amortization of intangibles, is expected to be in the range of $5.4 million to $5.8 million. On a GAAP basis, net loss for fiscal 2008 is expected to be in the range of $9.5 to $9.9 million. Weighted average shares for the year are expected to be approximately 13.7 million shares.
For the first quarter of fiscal 2008, Salary.com expects total revenue in the range of $6.7 million to $7.1 million. Non-GAAP loss, which excludes the non-cash impact of stock-based compensation expense and amortization of intangibles, is expected to be in the range of $1.5 million to $1.7 million. GAAP loss for the first quarter of fiscal 2008, is expected to be in the range of $2.5 million to $2.7 million. Weighted average shares for the quarter are expected to be approximately 13.4 million shares.
About Salary.com, Inc.
Salary.com is a leading provider of on-demand compensation management solutions helping businesses and individuals manage pay and performance. Salary.com provides companies of all sizes comprehensive on-demand software applications that are tightly integrated with its own proprietary compensation data sets, thereby automating the essential elements of the compensation management process and significantly improving the effectiveness of its client's compensation spend. For more information, visit www.salary.com.
Media Contact:
David Close/Bill Keeler
Schwartz Communications
(781) 684-0770
Sendouts Pro's RSS Feed Technology Integrates with
Indeed.com & Simply Hired Allowing Clients to Fill More Job Orders
& Find Qualified Candidates
Sendouts provides its clients with Webconnect, a product that enables recruiters to automatically post job openings to their websites from within their Sendouts Pro recruiting software. Recognizing a need for more qualified candidates and further exposure for clients' job postings, Sendouts Pro has implemented RSS feeds (Really Simple Syndication) technology. An XML format, RSS feeds are creating a standard way to automatically deliver fresh content to websites and blogs.
Sendouts Pro allows recruiters to use RSS feed technology to pull their Webconnect job postings and feed them to Indeed and Simply Hired, both job search engines, for maximum exposure. Daily, Indeed and Simply Hired will collect and display any updated job listings and when clicking on a job, a candidate will immediately be re-directed to the client's website to apply for the job.
"Sendouts Pro's RSS feed technology partnered with Indeed and Simply Hired has created a new outlet for our clients' job postings," said Don Breckenridge, president of Sendouts. "Ultimately, they will find a broader array of qualified candidates and fill more job orders.
In the end, Sendouts will continue to provide technology solutions that will increase our clients fill rates."
RSS feed technology combined with the integration of Indeed and Simply Hired has created a central repository for job postings managed completely through Sendouts Pro.
About Indeed
Indeed, the most comprehensive search engine for jobs, pioneered a radically improved approach to job search. Since 2004, Indeed has given job seekers free access - instantly, in a single search - to millions of jobs from thousands of company Web sites, job boards, newspapers, blogs and associations. Indeed makes it easy for job seekers to drill down by keyword and location to find exactly the right jobs. With millions of job seekers and tens of millions of job searches per month, Indeed is by far the leading vertical search engine for jobs. Indeed won a 2007 Weddle's Users' Choice Award and was named the Best Job Search Engine by Job-hunt.org. Indeed has also been selected by Time magazine as one of the "50 Coolest Websites" and by PC World as one of the best 50 websites. Indeed is a privately held company founded by Paul Forster and Rony Kahan, with shareholders including The New York Times Company, Union Square Ventures and Allen & Company. For more information, please visit www.indeed.com.
About Simply Hired
With more than 5 million job listings and counting, Simply Hired (www.SimplyHired.com) is the world's largest search engine for jobs and recruitment advertising network. We search thousands of sources, including job boards, newspaper and classified listings, and company websites. Our mission is to help people find their ideal jobs in the simplest way possible. Simply Hired has been lauded as one of the "50 Coolest Websites" by Time Magazine, declared "Best of the Web" by Business Week and celebrated as one of "50 Best New Websites" by PC World. With Job-a-matic (www.jobamatic.com), Simply Hired also enables online publishers to create turnkey job sites, and generate revenue from paid job listings. Simply Hired has raised $17.7M in funding from News Corporation's Fox Interactive Media, Foundation Capital, Garage Technology Ventures and individual investors. The company is privately held and is based in Mountain View, California.
About Sendouts LLC
Sendouts LLC is the #1 provider of on-demand recruiting software for the recruiting and staffing industry. As a Microsoft Certified Partner, Sendouts leads the industry in providing state of the art SaaS solutions to help increase recruiter revenue and drive sales. Over 600 clients and 4,000 recruiters use Sendouts Pro daily to manage the entire talent acquisition process from initial prospective client and opportunity to final placement, according to their unique work flow requirements. It enables them to automate and speed sales, candidate-matching and the hiring process; allow recruiters to work from a centralized database; organize recruiters and managers; and obtain real-time performance metrics for better management decisions. For more information, visit www.sendouts.com or call 1-877-309-5222.
Got News?
Send us (bugler at interbiznet.com) your company
news, personnel changes, placements, and other tidbits of interest. News you'd like to see
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Don't forget to check out the blogs on bert
White Papers and So On:
CollegeRecruiter.com offers seven whitepapers at
http://www.collegerecruiter.com/pages/white-papers.php.
Lean Staffing Institute on Referrals from The Empower Network.
ATS Sourcing Whitepaper written by Jake Firth of JobsInLogistics.com.
Staffing Strategies: Can You Find, Recruit, and Retain the Talent You Need?
Authoria's complimentary white paper
Multigenerational Recruiting Slide Presentation done at OnRec by John and Bridget Sumser.
Virtual Edge offers 7 "Must Haves" of Next Generation Power Recruiting Technology and many other White Papers.
interbiznet and RetirementJobs.com present
Boomers to Bust Age Bias? Baby Boomers Redefine Retirement
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