Oct. 29 (Bloomberg) -- Monster Worldwide Inc., the world’s largest online recruiter, fell 3.6 percent in New York trading after third-quarter sales missed analysts’ estimates.

Monster declined 60 cents to $15.98 at 4 p.m. in New York Stock Exchange composite trading. The shares have gained 32 percent this year.

Sales dropped 35 percent to $214.5 million as the global recession crimped demand for job-related ads, Monster said in a statement today. Analysts predicted $216.6 million, the average of estimates in a Bloomberg survey.

The sales decline disappointed investors and helped push down the stock, said Mark Marcon, a Milwaukee-based analyst for Robert W. Baird & Co.

“They are one of the few employment-related companies that reported worse-than-expected revenue,” said Marcon, who rates the shares “neutral” and doesn’t own them.

Sales this quarter will be “flat to slightly down” compared with the third quarter, Chief Executive Officer Sal Iannuzzi said during a conference call with analysts. He didn’t elaborate.

About 42 percent of revenue comes from outside the U.S. and “unfavorable foreign exchange” sliced away $7.4 million, New York-based Monster said. Sales of recruitment ads in the international unit declined 40 percent, to $85 million, and North America revenue decreased 39 percent.

Net income slid to $32.8 million, or 27 cents a share, from $42.8 million, or 35 cents, a year earlier, the company said in a statement today.

Excluding some costs and gains, profit was 1 cent a share, Monster said. Analysts had predicted break-even profit, the average of estimates compiled by Bloomberg.

Monster is dependent on employers and focuses on listings for permanent jobs, which usually lag temporary employment, Marcon said.

To contact the reporter on this story: Siddhartha Vaidyanathan in New York at svaidyanath3@bloomberg.net

Last Updated: October 29, 2009 16:08 EDT