Segment Information |
SEGMENT INFORMATION The Company has three reportable segments: Tech & Clearance, Finance, and Energy. The Tech & Clearance reportable segment includes the Dice.com, ClearanceJobs.com and Slashdot Media services (since the date of acquisition). The Finance reportable segment includes the eFinancialCareers service worldwide, including both the operating segments of North America and International. The Energy reportable segment includes the Rigzone service. Management has organized its reportable segments based upon the industry verticals served. Each of the reportable segments generates revenue from sales of recruitment packages and related services. The Company has other services and activities that individually are not more than 10% of consolidated revenues, net income or total assets. These include Health Callings, Targeted Job Fairs and WorkDigital (since the date of acquisition) and are reported in the “Other” category. The Company’s foreign operations are comprised of a portion of the eFinancialCareers and Rigzone services, which operate in Europe, the financial centers of Gulf Region of the Middle East and Asia Pacific. The following table shows the segment information for the years ended December 31, 2012, 2011, and 2010 (in thousands): | | | | | | | | | | | | | | | | | | 2012 | | 2011 | | 2010 | By Segment: | | | | | | Revenues: | | | | | | Tech & Clearance | $ | 133,375 |
| | $ | 115,011 |
| | $ | 88,206 |
| Finance | 38,373 |
| | 44,970 |
| | 33,730 |
| Energy | 19,144 |
| | 15,622 |
| | 4,440 |
| Other | 4,471 |
| | 3,527 |
| | 2,621 |
| Total revenues | $ | 195,363 |
| | $ | 179,130 |
| | $ | 128,997 |
| | | | | | | Depreciation: | | | | | | Tech & Clearance | $ | 4,695 |
| | $ | 3,894 |
| | $ | 3,519 |
| Finance | 607 |
| | 529 |
| | 449 |
| Energy | 92 |
| | 98 |
| | 48 |
| Other | 263 |
| | 218 |
| | 106 |
| Total depreciation | $ | 5,657 |
| | $ | 4,739 |
| | $ | 4,122 |
| | | | | | | Amortization: | | | | | | Tech & Clearance | $ | 636 |
| | $ | — |
| | $ | 3,240 |
| Finance | 387 |
| | 811 |
| | 2,963 |
| Energy | 5,201 |
| | 8,472 |
| | 3,904 |
| Other | 430 |
| | 779 |
| | 1,324 |
| Total amortization | $ | 6,654 |
| | $ | 10,062 |
| | $ | 11,431 |
| | | | | | |
| | | | | | | | | | | | | | | | | | 2012 | | 2011 | | 2010 | | | | | | | Operating income (loss): | | | | | | Tech & Clearance | $ | 51,170 |
| | $ | 44,982 |
| | $ | 27,686 |
| Finance | 10,391 |
| | 17,893 |
| | 9,351 |
| Energy | 1,743 |
| | (5,123 | ) | | (3,111 | ) | Other | (4,408 | ) | | (2,805 | ) | | (1,768 | ) | Operating income | 58,896 |
| | 54,947 |
| | 32,158 |
| Interest expense | (1,314 | ) | | (1,446 | ) | | (3,376 | ) | Deferred financing cost write-off | (765 | ) | | — |
| | (1,388 | ) | Interest income | 83 |
| | 112 |
| | 112 |
| Gain from interest rate hedges | — |
| | — |
| | 216 |
| Other income | (62 | ) | | (124 | ) | | (4 | ) | Income before income taxes | $ | 56,838 |
| | $ | 53,489 |
| | $ | 27,718 |
| | | | | | | Capital expenditures: | | | | | | Tech & Clearance | $ | 4,684 |
| | $ | 7,028 |
| | $ | 2,992 |
| Finance | 1,038 |
| | 513 |
| | 557 |
| Energy | 34 |
| | 118 |
| | 132 |
| Other | 593 |
| | 272 |
| | 332 |
| Total capital expenditures | $ | 6,349 |
| | $ | 7,931 |
| | $ | 4,013 |
| | | | | | | By Geography: | | | | | | Revenues: | | | | | | U.S. | $ | 155,834 |
| | $ | 136,738 |
| | $ | 98,959 |
| Non- U.S. | 39,529 |
| | 42,392 |
| | 30,038 |
| Total revenues | $ | 195,363 |
| | $ | 179,130 |
| | $ | 128,997 |
|
| | | | | | | | | | | | | | December 31, 2012 | | December 31, 2011 | | December 31, 2010 | Total assets: | | | | | | Tech & Clearance | $ | 183,896 |
| | $ | 160,903 |
| | $ | 157,386 |
| Finance | 92,513 |
| | 104,490 |
| | 92,956 |
| Energy | 53,203 |
| | 56,346 |
| | 63,349 |
| Other | 24,618 |
| | 4,639 |
| | 5,031 |
| Total assets | $ | 354,230 |
| | $ | 326,378 |
| | $ | 318,722 |
|
The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2012 and 2011 and the changes in goodwill for the years ended (in thousands): | | | | | | | | | | | | | | | | | | | | | | Tech & Clearance | | Finance | | Energy | | Other | | Total | | | | | | | | | | | Goodwill | $ | 84,778 |
| | $ | 70,287 |
| | $ | 35,104 |
| | $ | 3,311 |
| | $ | 193,480 |
| Accumulated impairment losses | — |
| | (7,213 | ) | | — |
| | — |
| | (7,213 | ) | Accumulated foreign currency translation adjustments | — |
| | (9,902 | ) | | — |
| | — |
| | (9,902 | ) | Goodwill at December 31, 2011 | $ | 84,778 |
| | $ | 53,172 |
| | $ | 35,104 |
| | $ | 3,311 |
| | $ | 176,365 |
| Goodwill acquired during the year | 6,221 |
| | 75 |
| | — |
| | 17,916 |
| | 24,212 |
| Foreign currency translation adjustment | (8 | ) | | 2,068 |
| | — |
| | 307 |
| | 2,367 |
| Goodwill at December 31, 2012 | $ | 90,991 |
| | $ | 55,315 |
| | $ | 35,104 |
| | $ | 21,534 |
| | $ | 202,944 |
| | | | | | | | | | | Balance at December 31, 2012 | | | | | | | | | | Goodwill | $ | 90,999 |
| | $ | 70,362 |
| | $ | 35,104 |
| | $ | 21,227 |
| | $ | 217,692 |
| Accumulated impairment losses | — |
| | (7,213 | ) | | — |
| | — |
| | (7,213 | ) | Accumulated foreign currency translation adjustments | (8 | ) | | (7,834 | ) | | — |
| | 307 |
| | (7,535 | ) | | $ | 90,991 |
| | $ | 55,315 |
| | $ | 35,104 |
| | $ | 21,534 |
| | $ | 202,944 |
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