Monster Worldwide Reports Third Quarter 2012 Results and Announces Corporate Restructuring

  Monster Worldwide Reports Third Quarter 2012 Results and Announces Corporate
  Restructuring

  *Third Quarter Results

       *Revenue from Continuing Operations of $222 million
       *GAAP EPS from Continuing Operations of $0.35, includes $0.28
         non-recurring tax benefit
       *Non-GAAP EPS from Continuing Operations of $0.09

  *Announces Corporate Restructuring

       *Concentrates resources on core business in North America and key
         European & Asian markets supported by increased marketing and sales
       *Pursues sale of ChinaHR and evaluates options in developing markets
       *Combined actions expected to reduce Operating Expense by
         approximately $130 million on an annualized basis

  *Review of Strategic Alternatives Ongoing

Business Wire

NEW YORK -- November 08, 2012

Monster Worldwide, Inc. (NYSE:MWW) today reported financial results for the
third quarter ended September 30, 2012. The Company also announced that it
will implement a corporate restructuring to focus on its core business and
reduce its cost structure in order to improve profitability and cash flow.

Sal Iannuzzi, chairman, president and chief executive officer of Monster
Worldwide, said, “During the third quarter, our bookings in North America,
excluding the Government vertical, were up slightly, while bookings in Europe
and Asia were negatively impacted by the challenging economic environment. We
are implementing a plan to concentrate our resources on our largest markets
where we generate the lion’s share of our revenue and profit and where we are
experiencing increased customer traction with our advanced technologies. We
believe this plan provides Monster the resources to grow our leading
businesses in North America and Europe.”

“While our strategic alternatives review is ongoing and we remain committed to
maximizing value for shareholders, today we are announcing a series of actions
designed to increase the Company’s profitability and strengthen its core
profitable markets,” Iannuzzi concluded.

Corporate Restructuring

The restructuring actions announced today include:

  *Pursuing a sale of ChinaHR and classifying the asset as held for sale in
    third quarter financial results. As a result, ChinaHR is excluded from
    third quarter continuing operations and prior results have been restated
    to reflect this change. The Company reported a non-cash asset impairment
    charge and deferred tax asset write-off of $225 million related to ChinaHR
    in the GAAP operating results.
  *Evaluating all options for developing markets and substantially curtailing
    the losses incurred in those markets.
  *Continuing and accelerating the redeployment of expenses into marketing
    and sales in Monster’s core markets, while reducing the run rate of
    operating expenses.

This series of actions described above is expected to reduce Monster
Worldwide’s operating expense by approximately $130 million on an annualized
basis. Cumulative pre-tax charges within the range of $50 million to $60
million will be recorded, of which the majority will be cash and recorded in
the fourth quarter 2012. The Company anticipates the majority of these actions
will occur by year end.

Third Quarter 2012 Results

As a result of the impairment charge and classification of ChinaHR as an asset
held for sale, actual reported results will not be comparable to revenue and
EPS guidance provided in Monster Worldwide’s August 2, 2012 second quarter
earnings release. On a comparable basis, third quarter revenue and EPS are in
line with previous guidance range.

Total bookings from continuing operations were $213 million, compared to $249
million in the same period a year ago. On a year over year basis, currency
translation had a $7 million negative impact on bookings in the third quarter
2012. The year over year decline in total bookings is primarily attributable
to continued weakness in Europe and Asia, both of which have been negatively
impacted by global economic challenges, partially offset by strength in North
America’s staffing and newspaper channels. Revenue from continuing operations
was $222 million, compared to third quarter 2011 revenue of $249 million. On a
year over year basis, currency translation had a $9 million negative impact on
revenue in the third quarter 2012. Historical data on bookings and revenue
from continuing operations for prior quarters is available in the Company’s
supplemental financial information.

Consolidated GAAP operating expenses from continuing operations of $207
million compares to $219 million in the third quarter 2011. Net income from
continuing operations for the third quarter was $39 million, or $0.35 per
share, which included a $31 million or $0.28 per share non-cash tax benefit
associated with the reversal of a previously recorded ASC 740 (FIN 48) tax and
interest liability. In the third quarter 2011, the Company reported net income
from continuing operations of $19 million, or $0.15 per share. Pro-forma items
are described in the "Notes Regarding the Use of Non-GAAP Financial Measures"
and are reconciled to the GAAP measure in the accompanying tables.

Non-GAAP net income from continuing operations of $9.5 million, or $0.09 per
share, compares to $20 million, or $0.16 per share in the third quarter 2011.
Non-GAAP operating expenses of $205 million decreased 6% year over year.

Cash and cash equivalents were $175 million as of September 30, 2012 compared
to $250 million as of December 31, 2011. Net operating cash flow in the
quarter was $7.7 million. Deferred revenue as of September 30, 2012 was $333
million compared to $330 million as of September 30, 2011, which excludes
results from ChinaHR.

Nine Months Results

Monster Worldwide reported total revenue from continuing operations of $682
million for the nine months ended September 30, 2012 compared to $761 million
in the same period last year, which included $22 million from IAF’s arbitrage
lead generation business and a $2.7 million purchase accounting adjustment
related to the HotJobs acquisition. The Company reported GAAP earnings from
continuing operations of $57 million, or $0.50 per diluted share, compared to
GAAP earnings of $35 million, or $0.27 per diluted share, in the prior period.

Share Repurchase

During the third quarter 2012, Monster repurchased 1.1 million shares of its
common stock at an average cost of $6.16 per share, for a total of $7 million.
At September 30, 2012, there was approximately $143 million remaining under
the Company’s previously announced $250 million share repurchase program.

Company Provides Q4 EPS Guidance

In light of the continued global economic weakness and actions announced
today, the Company will not be providing guidance for bookings and revenues at
this time. Fourth quarter EPS from continuing operations is expected to be in
the range of $0.05 to $0.10. This translates into full year 2012 EPS from
continuing operations to be in the range of $0.29 to $0.34.

Conference Call and Webcast

Third quarter 2012 results will be discussed on Monster Worldwide’s quarterly
conference call on November 8, 2012 at 8:30 AM ET. A live webcast of the
conference call can be accessed online through the Investor Relations section
of the Company’s website at http://ir.monster.com. To join the conference call
by telephone, please dial (888) 696-1396 or (706) 758-9636 and reference
conference ID 43475537.

A presentation of financial slides will be referenced during the conference
call and will be viewable through the live webcast. A PDF of the financial
presentation can also be accessed directly at
http://www.about-monster.com/sites/default/files/2012_Q3_earningslidefinal.pdf
or through the Company’s Investor Relations website at http://ir.monster.com.

The Company has also made available certain supplemental financial information
which can be accessed directly at
http://www.about-monster.com/sites/default/files/2012_Q3_MWWFinancialSupplements.pdf
or through the Company’s Investor Relations website at http://ir.monster.com.

For a replay of the conference call, please dial (855) 859-2056 or (404)
537-3406 and reference ID# 21035000. This number is valid until midnight on
November 22, 2012.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster®, is the
worldwide leader in successfully connecting people to job opportunities. From
the web, to mobile, to social, Monster helps companies find people with
customized solutions using the world's most advanced technology to match the
right person to the right job. With a local presence in approximately 55
countries, Monster connects employers with quality job seekers at all levels,
provides personalized career advice to consumers globally and delivers vast,
highly targeted audiences to advertisers. To learn more about Monster’s
industry-leading products and services, visit www.monster.com. More company
information is available at http://about-monster.com.

Special Note: The statements in this release that are not strictly historical,
including, without limitation, statements regarding the Company's strategic
direction, prospects and future results, 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 and, therefore, actual results may
differ materially from what is expressed or implied herein and no assurance
can be given that the Company will achieve, among other things, its outlook
with respect to earnings per share for the fourth fiscal quarter 2012 or the
full 2012 fiscal year. Factors that could cause results to differ materially
from those expressed or implied by such forward-looking statements include,
but are not limited to, economic and other conditions in the markets in which
we operate, risks associated with acquisitions or dispositions, competition,
and the other risks discussed in our Form 10-Q and our other filings made with
the Securities and Exchange Commission, which discussions are incorporated
into this release by reference. Many of the factors that will determine the
Company’s future results are beyond the ability of management to control or
predict. Readers should not place undue reliance on the forward-looking
statements in this release as they reflect management’s views only as of the
date hereof. The Company undertakes no obligation to revise or update any of
the forward-looking statements contained in this release or to make any other
forward-looking statements, whether as a result of new information, future
events or otherwise.

Notes Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain non-GAAP financial information as additional
information for its operating results. These measures are not in accordance
with, or an alternative for, generally accepted accounting principles (“GAAP”)
and may be different from non-GAAP measures reported by other companies. The
Company believes that its presentation of non-GAAP measures provides useful
information to management and investors regarding certain financial and
business trends relating to its financial condition and results of operations.

Non-GAAP revenue, operating expenses, operating income from continuing
operations, operating margin, net income from continuing operations, net
(loss) income from discontinued operations, and diluted earnings (loss) per
share all exclude certain pro-forma adjustments including: costs incurred for
the 2012 restructuring; recovery of restitution award from former executive;
costs incurred for the Company’s strategic alternatives; income tax benefits
associated with the reversal of income tax reserves on uncertain tax positions
and a tax benefit related to certain losses arising from the Company’s
restructuring program; the results of the Careers – China business as it has
been classified as held for sale in the third quarter of 2012; the fair value
adjustment to deferred revenue in connection with the acquisition the HotJobs
Assets; the receipt of escrowed funds associated with the ChinaHR acquisition;
severance and facility charges primarily related to the product and technology
global reorganization; changes in sublet assumptions on previously exited
facilities; acquisition and integration-related costs related to the
acquisition of the HotJobs Assets; realized and unrealized gains and losses on
marketable securities; and restructuring charges primarily related to
severance and facility charges associated with the decision to no longer
engage in certain activities within the Internet Advertising & Fees segment.
The Company uses these non-GAAP measures for reviewing the ongoing results of
the Company’s core business operations and in certain instances, for measuring
performance under certain of the Company’s incentive compensation plans. These
non-GAAP measures may not be comparable to similarly titled measures reported
by other companies.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is
defined as net income or loss before interest income or expense, income tax
expense or benefit, net gain or loss in equity interests, depreciation and
amortization, non-cash compensation expense and non-cash restructuring costs.
The Company considers EBITDA to be an important indicator of its operational
strength which the Company believes is useful to management and investors in
evaluating its operating performance. EBITDA is a non-GAAP measure and may not
be comparable to similarly titled measures reported by other companies.

Operating income before depreciation and amortization (“OIBDA”) is defined as
net income or loss from operations before depreciation, amortization of
intangible assets, amortization of stock-based compensation and non-cash costs
incurred in connection with the Company’s restructuring program. The Company
considers OIBDA to be an important indicator of its operational strength. This
measure eliminates the effects of depreciation, amortization of intangible
assets, amortization of stock-based compensation and non-cash restructuring
costs from period to period, which the Company believes is useful to
management and investors in evaluating its operating performance. OIBDA is a
non-GAAP measure and may not be comparable to similarly titled measures
reported by other companies.

Bookings represent the dollar value of contractual orders received in the
relevant period.

Free cash flow is defined as cash flow from operating activities less capital
expenditures. Free cash flow is considered a liquidity measure and provides
useful information about the Company's ability to generate cash after
investments in property and equipment. Free cash flow reflected herein is a
non-GAAP measure and may not be comparable to similarly titled measures
reported by other companies. Free cash flow does not reflect the total change
in the Company's cash position for the period and should not be considered a
substitute for such a measure.

Net cash and securities is defined as cash and cash equivalents plus
short-term marketable securities, less total debt. Total available liquidity
is defined as cash and cash equivalents, plus short-term marketable securities
plus unused borrowings under our credit facilities. The Company considers net
cash and securities and total available liquidity to be important measures of
liquidity and indicators of its ability to meet its ongoing obligations. The
Company also uses net cash and securities and total available liquidity, among
other measures, in evaluating its choices for capital deployment. Net cash and
securities and total available liquidity are presented herein as non-GAAP
measures and may not be comparable to similarly titled measures used by other
companies.

MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
                                                              
                                                                   
                  Three Months Ended September      Nine Months Ended
                  30,                               September 30,
                  2012               2011           2012           2011
                                                                   
Revenue           $  221,710        $  248,580    $ 681,971     $ 761,241 
                                                                   
Salaries and         100,837            121,602       317,117        379,833
related
Office and           61,289             52,912        173,222        174,652
general
Marketing and        44,712             42,911        148,517        150,582
promotion
Restructuring
and other            244                2,004         25,678         2,004
special charges
Recovery of
restitution
award from          -                -           (5,350   )    -       
former
executive
Total operating     207,082          219,429     659,184      707,071 
expenses
                                                                   
Operating            14,628             29,151        22,787         54,170
income
                                                                   
Interest and        (1,530    )       (1,422  )    (4,172   )    (2,427  )
other, net
                                                                   
Income before
income taxes
and loss in          13,098             27,729        18,615         51,743
equity
interests
                                                                   
(Benefit from)
provision for        (26,162   )        8,813         (39,122  )     16,132
income taxes
Loss in equity      (271      )       (368    )    (726     )    (996    )
interests, net
                                                                   
Income from
continuing           38,989             18,548        57,011         34,615
operations
                                                                   
(Loss) income
from
discontinued        (233,228  )       13,279      (242,706 )    8,276   
operations, net
of tax
                                                                   
Net (loss)        $  (194,239  )     $  31,827     $ (185,695 )   $ 42,891  
income
                                                                   
Basic (loss)
earnings per
share:
                                                                   
Income from
continuing        $  0.35            $  0.15        $ 0.50         $ 0.28
operations
(Loss) income
from
discontinued        (2.10     )       0.11        (2.14    )    0.07    
operations, net
of tax
Basic (loss)
earnings per      $  (1.75     )     $  0.26       $ (1.64    )   $ 0.35    
share
                                                                   
Diluted (loss)
earnings per
share:
                                                                   
Income from
continuing        $  0.35            $  0.15        $ 0.50         $ 0.27
operations
(Loss) income
from
discontinued        (2.10     )       0.11        (2.14    )    0.07    
operations, net
of tax
Diluted (loss)
earnings per      $  (1.75     )     $  0.26       $ (1.64    )   $ 0.34    
share
                                                                   
                                                                   
Weighted
average shares
outstanding:
                                                                   
Basic               111,239          122,991     113,460      122,212 
                                                                   
Diluted             112,212          123,972     114,622      124,338 
                                                                   
                                                                   
                                                                   
Operating
income before
depreciation,
amortization,
and non-cash
restructuring:
                                                                   
Operating         $  14,628          $  29,151      $ 22,787       $ 54,170
income
Depreciation
and                  16,141             17,353        48,094         52,121
amortization of
intangibles
Amortization of
stock-based          5,711              8,788         21,274         33,805
compensation
Restructuring
non-cash            -                -           6,417        -       
expenses
                                                                   
Operating
income before
depreciation,     $  36,480         $  55,292     $ 98,572      $ 140,096 
amortization,
and non-cash
restructuring
                                                                   

MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
                                                              
                                               Nine Months Ended September 30,
                                               2012               2011
Cash flows provided by operating activities:
Net (loss) income                              $  (185,695  )     $  42,891  
Adjustments to reconcile net (loss) income
to net cash provided by operating
activities:
Depreciation and amortization                     52,741             56,298
Provision for doubtful accounts                   2,064              2,452
Non-cash compensation                             21,582             34,431
Deferred income taxes                             (294      )        (6,562  )
Non-cash restructuring write-offs                 6,417              -
Loss in equity interests, net                     726                996
Gains on auction rate securities                  -                  (1,732  )
Reversal of uncertain tax positions               (43,193   )        -
Impairment of goodwill                            216,221            -
Changes in assets and liabilities, net of
acquisitions:
Accounts receivable                               13,341             47,696
Prepaid and other                                 11,109             (2,361  )
Deferred revenue                                  (28,277   )        (24,931 )
Accounts payable, accrued liabilities and        (30,904   )       (24,163 )
other
Total adjustments                                221,533          82,124  
Net cash provided by operating activities        35,838           125,015 
                                                                  
Cash flows used for investing activities:
Capital expenditures                              (46,902   )        (45,433 )
Cash funded to equity investee                    (2,077    )        (2,559  )
Sales and maturities of marketable                -                  1,732
securities
Dividends received from unconsolidated           728              443     
investee
Net cash used for investing activities           (48,251   )       (45,817 )
                                                                  
Cash flows (used for) provided by financing
activities:
Proceeds from borrowings on credit                221,355            107,725
facilities
Payments on borrowings on credit facilities       (271,802  )        (9,500  )
Proceeds from borrowings on term loan             100,000            -
Payments on borrowings on term loan               (42,500   )        -
Repurchase of common stock                        (65,611   )        -
Tax withholdings related to net share
settlements of restricted stock awards and        (8,030    )        (16,876 )
units
Proceeds from the exercise of employee stock     23               23      
options
Net cash (used for) provided by financing        (66,565   )       81,372  
activities
                                                                  
Effects of exchange rates on cash                 3,764              (1,938  )
                                                                  
Net (decrease) increase in cash and cash          (75,214   )        158,632
equivalents
Cash and cash equivalents, beginning of          250,317          163,169 
period
Cash and cash equivalents, end of period       $  175,103        $  321,801 
                                                                  
Free cash flow:
                                                                  
Net cash provided by operating activities      $  35,838          $  125,015
Less: Capital expenditures                       (46,902   )       (45,433 )
Free cash flow                                 $  (11,064   )     $  79,582  
                                                                             

MONSTER WORLDWIDE, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
                                                          
Assets:                                 September 30, 2012   December 31, 2011
                                                             
Cash and cash equivalents               $     175,103        $    250,317
Accounts receivable, net                      315,058             343,546
Property and equipment, net                   150,541             156,282
Goodwill and intangibles, net                 913,793             1,184,122
Other assets                                  103,797             123,731
Assets of business held for sale             80,303             -
Total Assets                            $     1,738,595      $    2,057,998
                                                             
Liabilities and Stockholders' Equity:
                                                             
Accounts payable, accrued expenses      $     170,700        $    213,817
and other current liabilities
Deferred revenue                              332,723             380,310
Current portion of long-term debt and         14,191              188,836
borrowings on credit facility
Long-term income taxes payable                61,612              94,750
Long-term debt, less current portion          181,750             -
Other long-term liabilities                   10,897              16,158
Liabilities of business held for sale        31,881             -
Total Liabilities                       $     803,754        $    893,871
                                                             
Stockholders' Equity                          934,841             1,164,127
                                                           
Total Liabilities and Stockholders'     $     1,738,595      $    2,057,998
Equity
                                                             

MONSTER WORLDWIDE, INC.
UNAUDITED NON-GAAP STATEMENTS OF OPERATIONS AND RECONCILIATIONS
(in thousands, except per share amounts)
                                                                                           
                Three Months Ended September 30, 2012             Three Months Ended September 30, 2011
                As Reported    Non GAAP            Consolidated   As Reported   Non GAAP            Consolidated
                               Adjustments         Non GAAP                     Adjustments         Non GAAP
                                                                                                    
Revenue         $ 221,710      $ -                 $  221,710     $ 248,580     $ -                 $  248,580
                                                                                                    
Salaries and      100,837        -                    100,837       121,602       -                    121,602
related
Office and        61,289         (1,484  )   g        59,805        52,912        -                    52,912
general
Marketing and     44,712         -                    44,712        42,911        -                    42,911
promotion
Restructuring
and other        244          (244    )   e       -           2,004       (2,004  )   e       -       
special
charges
Total
operating        207,082      (1,728  )           205,354     219,429     (2,004  )           217,425 
expenses
Operating         14,628         1,728                16,356        29,151        2,004                31,155
income
Operating         6.6      %                          7.4     %     11.7    %                          12.5    %
margin
                                                                                                    
Interest and     (1,530   )    -                  (1,530  )    (1,422  )    -                  (1,422  )
other, net
                                                                                                    
Income before
income taxes
and loss in       13,098         1,728                14,826        27,729        2,004                29,733
equity
interests
                                                                                                    
(Benefit
from)             (26,162  )     31,169      i,j      5,007         8,813         671         j        9,484
provision for
income taxes
Loss in
equity           (271     )    -                  (271    )    (368    )    -                  (368    )
interests,
net
Income from
continuing       38,989       (29,441 )           9,548       18,548      1,333              19,881  
operations
                                                                                                    
(Loss) income
from              (233,228 )     233,228     k        -             13,279        (13,279 )   k        -
discontinued
operations
                                                                                               
Net (loss)      $ (194,239 )   $ 203,787          $  9,548      $ 31,827     $ (11,946 )         $  19,881  
income
                                                                                                    
Diluted
(loss)
earnings per
share:*
Income from
continuing      $ 0.35         $ (0.26   )         $  0.09        $ 0.15        $ 0.01              $  0.16
operations
(Loss) income
from
discontinued     (2.10    )    2.10               -           0.11        (0.11   )           -       
operations,
net of tax
Diluted
(loss)          $ (1.75    )   $ 1.83             $  0.09       $ 0.26       $ (0.10   )         $  0.16    
earnings per
share
                                                                                                    
Weighted
average
shares
outstanding:
Basic             111,239        111,239              111,239       122,991       122,991              122,991
Diluted           112,212        112,212              112,212       123,972       123,972              123,972
                                                                                                    
                                                                                                    
                Nine Months Ended September 30, 2012              Nine Months Ended September 30, 2011
                As Reported    Non GAAP            Consolidated   As Reported   Non GAAP            Consolidated
                               Adjustments         Non GAAP                     Adjustments         Non GAAP
                                                                                                    
Revenue         $ 681,971      $ -                 $  681,971     $ 761,241       2,658       a     $  763,899
                                                                                                    
Salaries and      317,117        -                    317,117       379,833       (1,178  )   b,c      378,655
related
Office and        173,222        (3,313  )   g        169,909       174,652       (6,829  )   c,d      167,823
general
Marketing and     148,517        -                    148,517       150,582       -                    150,582
promotion
Restructuring
and other         25,678         (25,678 )   e        -             2,004         (2,004  )   e        -
special
charges
Recovery of
restitution
award from       (5,350   )    5,350      f       -           -           -                  -       
former
executive
Total
operating        659,184      (23,641 )           635,543     707,071     (10,011 )           697,060 
expenses
Operating         22,787         23,641               46,428        54,170        12,669               66,839
income
Operating         3.3      %                          6.8     %     7.1     %                          8.7     %
margin
                                                                                                    
Interest and     (4,172   )    -                  (4,172  )    (2,427  )    (1,120  )   h       (3,547  )
other, net
                                                                                                    
Income before
income taxes
and loss in       18,615         23,641               42,256        51,743        11,549               63,292
equity
interests
                                                                                                    
(Benefit
from)             (39,122  )     52,993      i,j      13,871        16,132        4,029       j        20,161
provision for
income taxes
Loss in
equity           (726     )    -                  (726    )    (996    )    -                  (996    )
interests,
net
Income from
continuing       57,011       (29,352 )           27,659      34,615      7,520              42,135  
operations
                                                                                                    
Loss from
discontinued      (242,706 )     242,706     k        -             8,276         (8,276  )   k        -
operations
                                                                                               
Net (loss)      $ (185,695 )   $ 213,354          $  27,659     $ 42,891     $ (756    )         $  42,135  
income
                                                                                                    
Diluted
(loss)
earnings per
share:*
Income from
continuing      $ 0.50         $ (0.26   )         $  0.24        $ 0.27        $ 0.06              $  0.34
operations
(Loss) income
from
discontinued     (2.14    )    2.14               -           0.07        (0.07   )           -       
operations,
net of tax
Diluted
(loss)          $ (1.64    )   $ 1.88             $  0.24       $ 0.34       $ (0.01   )         $  0.34    
earnings per
share
                                                                                                    
Weighted
average
shares
outstanding:
Basic             113,460        113,460              113,460       122,212       122,212              122,212
Diluted           114,622        114,622              114,622       124,338       124,338              124,338
                                                                                                    

Note Regarding ProForma Adjustments:
The financial information included herein contains certain non-GAAP financial
measures. This information is not intended to be used in place of the
financial information prepared and presented in accordance with GAAP, nor is
it intended to be considered in isolation. We believe that the above
presentation of non-GAAP measures provide useful information to management and
investors regarding certain core operating and business trends relating to our
results of operations, exclusive of certain restructuring related and other
special charges.

ProForma adjustments consist of the following:

a Deferred revenue fair value adjustment required under existing purchase
accounting rules relating to the acquisition of the HotJobs Assets in Q3 2010.

b Severance charges primarily related to the reorganization of the product &
technology groups on a global basis.

c Acquisition and integration related costs associated with the acquisition of
the HotJobs Assets.

d Charges related to changes in sublet assumptions on previously exited
facilities.

e Restructuring related charges pertaining to the strategic actions that the
Company announced in January 2012 and charges related to the Company no longer
engaging in the arbitrage lead generation business in 2011. These charges
include costs related to the reduction in the Company’s workforce, fixed asset
write-offs, costs relating to the consolidation of certain office facilities,
and professional fees.

f Restitution award paid by a former executive to the United States government
in connection with the Company's historical stock option practices.

g Costs directly associated with our previously announced review of strategic
alternatives.

h Net realized gains on available for sale securities.

i Non-GAAP income tax adjustment includes the reversal of income tax reserves
on uncertain tax positions during the quarter and a non-recurring tax benefit
related to certain losses arising from the Company's restructuring program.

j Income tax adjustment is calculated using the effective tax rate of the
reported period multiplied by the ProForma adjustment to income (loss) before
income taxes and loss in equity interests.

k Represents the results of discontinued operations related to our decision to
sell our Careers-China business. The sale is expected to be completed during
the next 12 months.

*Earnings per share may not add in certain periods due to rounding.


MONSTER WORLDWIDE, INC.
UNAUDITED NON-GAAP OPERATING SEGMENT INFORMATION
(in thousands)
                                                                  
                                                                        
Three                                       Internet
Months        Careers -     Careers -       Advertising   Corporate
Ended         North         International   &             Expenses      Total
September     America                       Fees
30, 2012
                                                                        
Revenue -     $ 115,455     $  87,451       $  18,804                   $ 221,710
GAAP
Non GAAP       -            -             -                        -       
Adjustments
Revenue -     $ 115,455    $  87,451      $  18,804                  $ 221,710 
Non GAAP
                                                                        
Operating
income        $ 17,169      $  4,124        $  4,990      $ (11,655 )   $ 14,628
(loss) -
GAAP
Non GAAP       (116    )     570           9          1,265       1,728   
Adjustments
Operating
income        $ 17,053     $  4,694       $  4,999     $ (10,390 )   $ 16,356  
(loss) -
Non GAAP
                                                                        
OIBDA -       $ 26,887      $  10,552       $  6,990      $ (7,949  )   $ 36,480
GAAP
Non GAAP       (116    )     570           9          1,265       1,728   
Adjustments
OIBDA - Non   $ 26,771     $  11,122      $  6,999     $ (6,684  )   $ 38,208  
GAAP
                                                                        
Operating
margin -        14.9    %      4.7      %      26.5   %                   6.6     %
GAAP
Operating
margin -        14.8    %      5.4      %      26.6   %                   7.4     %
Non GAAP
                                                                        
OIBDA
margin -        23.3    %      12.1     %      37.2   %                   16.5    %
GAAP
OIBDA
margin -        23.2    %      12.7     %      37.2   %                   17.2    %
Non GAAP
                                                                        
Three                                       Internet
Months        Careers -     Careers -       Advertising   Corporate
Ended         North         International   &             Expenses      Total
September     America                       Fees
30, 2011
                                                                        
Revenue       $ 123,160     $  103,623      $  21,797                   $ 248,580
Non GAAP       -            -             -                        -       
Adjustments
Revenue -     $ 123,160    $  103,623     $  21,797                  $ 248,580 
Non GAAP
                                                                        
Operating
income        $ 21,434      $  15,825       $  395        $ (8,503  )   $ 29,151
(loss) -
GAAP
Non GAAP       -            323           1,681      -           2,004   
Adjustments
Operating
income        $ 21,434     $  16,148      $  2,076     $ (8,503  )   $ 31,155  
(loss) -
Non GAAP
                                                                        
OIBDA -       $ 33,589      $  24,374       $  3,737      $ (6,408  )   $ 55,292
GAAP
Non GAAP       -            323           1,681      -           2,004   
Adjustments
OIBDA - Non   $ 33,589     $  24,697      $  5,418     $ (6,408  )   $ 57,296  
GAAP
                                                                        
Operating
margin -        17.4    %      15.3     %      1.8    %                   11.7    %
GAAP
Operating
margin -        17.4    %      15.6     %      9.5    %                   12.5    %
Non GAAP
                                                                        
OIBDA
margin -        27.3    %      23.5     %      17.1   %                   22.2    %
GAAP
OIBDA
margin -        27.3    %      23.8     %      24.9   %                   23.0    %
Non GAAP
                                                                        
Nine Months   Careers -                     Internet
Ended         North         Careers -       Advertising   Corporate     Total
September     America       International   &             Expenses
30, 2012                                    Fees
                                                                        
Revenue -     $ 351,418     $  272,825      $  57,728                   $ 681,971
GAAP
Non GAAP       -            -             -                        -       
Adjustments
Revenue -     $ 351,418    $  272,825     $  57,728                  $ 681,971 
Non GAAP
                                                                        
Operating
income        $ 35,279      $  6,407        $  13,565     $ (32,464 )   $ 22,787
(loss) -
GAAP
Non GAAP       14,213       9,433         1,166      (1,171  )    23,641  
Adjustments
Operating
income        $ 49,492     $  15,840      $  14,731    $ (33,635 )   $ 46,428  
(loss) -
Non GAAP
                                                                        
OIBDA -       $ 71,071      $  28,149       $  20,532     $ (21,180 )   $ 98,572
GAAP
Non GAAP       8,965        8,898         543        (1,184  )    17,222  
Adjustments
OIBDA - Non   $ 80,036     $  37,047      $  21,075    $ (22,364 )   $ 115,794 
GAAP
                                                                        
Operating
margin -        10.0    %      2.3      %      23.5   %                   3.3     %
GAAP
Operating
margin -        14.1    %      5.8      %      25.5   %                   6.8     %
Non GAAP
                                                                        
OIBDA
margin -        20.2    %      10.3     %      35.6   %                   14.5    %
GAAP
OIBDA
margin -        22.8    %      13.6     %      36.5   %                   17.0    %
Non GAAP
                                                                        
Nine Months   Careers -                     Internet
Ended         North         Careers -       Advertising   Corporate     Total
September     America       International   &             Expenses
30, 2011                                    Fees
                                                                        
Revenue       $ 366,757     $  305,918      $  88,566                   $ 761,241
Non GAAP       2,658        -             -                        2,658   
Adjustments
Revenue -     $ 369,415    $  305,918     $  88,566                  $ 763,899 
Non GAAP
                                                                        
                                                                        
Operating
income        $ 54,425      $  38,082       $  3,760      $ (42,097 )   $ 54,170
(loss) -
GAAP
Non GAAP       2,885        605           1,702      7,477       12,669  
Adjustments
Operating
income        $ 57,310     $  38,687      $  5,462     $ (34,620 )   $ 66,839  
(loss) -
Non GAAP
                                                                        
OIBDA -       $ 92,460      $  66,119       $  14,643     $ (33,126 )   $ 140,096
GAAP
Non GAAP       2,885        605           1,702      7,477       12,669  
Adjustments
OIBDA - Non   $ 95,345     $  66,724      $  16,345    $ (25,649 )   $ 152,765 
GAAP
                                                                        
Operating
margin -        14.8    %      12.4     %      4.2    %                   7.1     %
GAAP
Operating
margin -        15.5    %      12.6     %      6.2    %                   8.7     %
Non GAAP
                                                                        
OIBDA
margin -        25.2    %      21.6     %      16.5   %                   18.4    %
GAAP
OIBDA
margin -        25.8    %      21.8     %      18.5   %                   20.0    %
Non GAAP
                                                                                  

Contact:

Monster Worldwide, Inc.
Investors:
Lori Chaitman, 212-351-7090
Lori.Chaitman@monster.com
Media:
Andrea Rose, 212-895-8666
arose@joelefrank.com