DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION | 3 Months Ended | |
Mar. 31, 2015 | Apr. 24, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | DHI GROUP, INC. | |
Entity Central Index Key | 1393883 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 55,018,502 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets | ||
Cash and cash equivalents | $27,965 | $26,777 |
Accounts receivable, net of allowance for doubtful accounts of $2,913 and $2,888 | 45,970 | 49,048 |
Deferred income taxes—current | 3,340 | 3,373 |
Income taxes receivable | 1,444 | 3,973 |
Prepaid and other current assets | 5,348 | 4,764 |
Total current assets | 84,067 | 87,935 |
Fixed assets, net | 16,233 | 16,066 |
Acquired intangible assets, net | 76,282 | 81,345 |
Goodwill | 234,751 | 239,256 |
Deferred financing costs, net of accumulated amortization of $865 and $761 | 1,216 | 1,320 |
Deferred income taxes--non-current | 249 | 399 |
Other assets | 789 | 926 |
Total assets | 413,587 | 427,247 |
Current liabilities | ||
Accounts payable and accrued expenses | 21,691 | 25,714 |
Deferred revenue | 90,771 | 86,444 |
Current portion of acquisition related contingencies | 0 | 3,883 |
Current portion of long-term debt | 3,125 | 2,500 |
Deferred income taxes—current | 5 | 3 |
Income taxes payable | 1,614 | 1,205 |
Total current liabilities | 117,206 | 119,749 |
Long-term debt | 101,750 | 108,000 |
Deferred income taxes—non-current | 14,599 | 15,478 |
Accrual for unrecognized tax benefits | 3,475 | 3,392 |
Other long-term liabilities | 2,766 | 2,830 |
Total liabilities | 239,796 | 249,449 |
Commitments and contingencies (Note 7) | ||
Stockholders' equity | ||
Convertible preferred stock, $.01 par value, authorized 20,000 shares; no shares issued and outstanding | 0 | 0 |
Common stock, $.01 par value, authorized 240,000; issued 79,377 and 77,366 shares, respectively; outstanding: 54,961 and 54,142 shares, respectively | 794 | 774 |
Additional paid-in capital | 338,981 | 332,985 |
Accumulated other comprehensive loss | -18,413 | -13,906 |
Accumulated earnings | 65,536 | 60,444 |
Treasury stock, 24,416 and 23,224 shares, respectively | -213,107 | -202,499 |
Total stockholders’ equity | 173,791 | 177,798 |
Total liabilities and stockholders’ equity | $413,587 | $427,247 |
CONSOLIDATED_BALANCE_SHEETS_PA
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Current assets | ||
Allowance for doubtful accounts | $2,913 | $2,888 |
Accumulated amortization | $865 | $761 |
Stockholders' equity | ||
Convertible preferred stock, par value | $0.01 | $0.01 |
Convertible Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Convertible preferred, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 240,000,000 | 240,000,000 |
Common stock, shares issued | 79,377,000 | 77,366,000 |
Common stock, shares outstanding | 54,961,000 | 54,142,000 |
Treasury stock, shares | 24,416,000 | 23,224,000 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues | $63,770 | $60,690 |
Operating expenses: | ||
Cost of revenues | 9,625 | 8,854 |
Product development | 7,089 | 6,403 |
Sales and marketing | 20,678 | 19,018 |
General and administrative | 11,272 | 11,362 |
Depreciation | 2,203 | 2,821 |
Amortization of intangible assets | 3,743 | 4,311 |
Change in acquisition related contingencies | 0 | 45 |
Total operating expenses | 54,610 | 52,814 |
Operating income | 9,160 | 7,876 |
Interest expense | -808 | -893 |
Other expense | -27 | -8 |
Income before income taxes | 8,325 | 6,975 |
Income tax expense | 3,233 | 2,580 |
Net income | $5,092 | $4,395 |
Basic earnings per share (in dollars per share) | $0.10 | $0.08 |
Diluted earnings per share (in dollars per share) | $0.09 | $0.08 |
Weighted average basic shares outstanding | 52,267 | 53,105 |
Weighted average diluted shares outstanding | 54,292 | 55,376 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net income | $5,092 | $4,395 |
Foreign currency translation adjustment | -4,507 | -1,086 |
Total other comprehensive loss | -4,507 | -1,086 |
Comprehensive income | $585 | $3,309 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities: | ||
Net income | $5,092 | $4,395 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation | 2,203 | 2,821 |
Amortization of intangible assets | 3,743 | 4,311 |
Deferred income taxes | -586 | -1,452 |
Amortization of deferred financing costs | 104 | 93 |
Stock based compensation | 2,503 | 2,346 |
Change in acquisition related contingencies | 0 | 45 |
Change in accrual for unrecognized tax benefits | 83 | 153 |
Changes in operating assets and liabilities, net of the effects of acquisitions: | ||
Accounts receivable | 2,327 | -4,143 |
Prepaid expense and other assets | -495 | -2,544 |
Accounts payable and accrued expenses | -4,164 | -5,763 |
Income taxes receivable/payable | 2,923 | 2,169 |
Deferred revenue | 5,431 | 9,587 |
Other, net | -44 | 2 |
Net cash flows from operating activities | 19,120 | 12,020 |
Cash flows from investing activities: | ||
Payments for acquisitions, net of cash acquired | 0 | -26,724 |
Purchases of fixed assets | -2,476 | -2,569 |
Net cash flows from investing activities | -2,476 | -29,293 |
Cash flows from financing activities: | ||
Payments on long-term debt | -10,625 | -3,625 |
Proceeds from long-term debt | 5,000 | 6,000 |
Payments under stock repurchase plan | -8,716 | -6,872 |
Payment of acquisition related contingencies | -3,829 | -824 |
Proceeds from stock option exercises | 3,287 | 2,514 |
Purchase of treasury stock related to vested restricted stock | -1,532 | -1,054 |
Excess tax benefit over book expense from stock based compensation | 376 | 197 |
Net cash flows from financing activities | -16,039 | -3,664 |
Effect of exchange rate changes | 583 | -373 |
Net change in cash and cash equivalents for the period | 1,188 | -21,310 |
Cash and cash equivalents, beginning of period | 26,777 | 39,351 |
Cash and cash equivalents, end of period | $27,965 | $18,041 |
BASIS_OF_PRESENTATION_Notes
BASIS OF PRESENTATION (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | BASIS OF PRESENTATION |
The accompanying unaudited condensed consolidated financial statements of DHI Group, Inc. (“DHI” or the “Company”) (formerly known as Dice Holdings, Inc.) have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and disclosures normally included in annual audited consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been omitted and condensed pursuant to such rules and regulations. In the opinion of the Company’s management, all adjustments (consisting of only normal and recurring accruals) have been made to present fairly the financial position, results of operations and cash flows of the Company for the periods presented. Although the Company believes that the disclosures are adequate to make the information presented not misleading, these financial statements should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “Annual Report on Form 10-K”). Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results to be achieved for the full year. | |
Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the period. Management believes the most complex and sensitive judgments, because of their significance to the condensed consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Actual results could differ materially from management’s estimates reported in the condensed consolidated financial statements and footnotes thereto. There have been no significant changes in the Company’s assumptions regarding critical accounting estimates during the three month period ended March 31, 2015. |
NEW_ACCOUNTING_STANDARDS_Notes
NEW ACCOUNTING STANDARDS (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
NEW ACCOUNTING STANDARDS [Abstract] | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | NEW ACCOUNTING STANDARDS |
In April 2015, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. The new standard requires that debt issuance costs be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability. The recognition and measurement for debt issuance costs is not affected by this standard. The updated standard becomes effective for reporting periods (interim and annual) beginning after December 15, 2015, with early adoption permitted. The new standard must be applied retrospectively to all periods presented in the financial statements. The Company is assessing the potential impact of the new standard on its consolidated financial statements. |
ACQUISITIONS
ACQUISITIONS | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Business Combinations [Abstract] | ||||||
Acquisitions | ACQUISITIONS | |||||
OilCareers—In March 2014, the Company acquired from the Daily Mail and General Trust PLC all of the issued and outstanding shares of OilCareers Limited, OilCareers.com, Inc. and OilCareers Pty Limited (collectively, “OilCareers”), a leading recruitment site for oil and gas professionals in Europe. The purchase price consisted of $26.1 million, paid in cash at closing, and $0.3 million paid in the second quarter of 2014 to settle certain working capital requirements. The valuation of assets and liabilities was completed during the second quarter of 2014. The OilCareers acquisition is not deemed significant to the Company’s financial results, thus limited disclosures are presented herein. | ||||||
The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): | ||||||
OilCareers Acquisition | ||||||
Assets: | ||||||
Accounts receivable | $ | 1,082 | ||||
Acquired intangible assets | 14,508 | |||||
Goodwill | 15,078 | |||||
Fixed assets | 98 | |||||
Other assets | 196 | |||||
Assets acquired | 30,962 | |||||
Liabilities: | ||||||
Accounts payable and accrued expenses | $ | 567 | ||||
Deferred revenue | 1,081 | |||||
Deferred income taxes | 2,916 | |||||
Liabilities assumed | 4,564 | |||||
Net Assets Acquired | $ | 26,398 | ||||
Goodwill results from the expansion of the Company’s market share in the Energy vertical, from intangible assets that do not qualify for separate recognition, including an assembled workforce and site traffic, and from expected synergies from combining operations of OilCareers into the Company’s existing operations. The amount of goodwill from the OilCareers acquisition expected to be deductible for tax purposes is $1.2 million. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||
The FASB ASC topic on Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value and requires certain disclosures for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. As a basis for considering assumptions, a three-tier fair value hierarchy is used, which prioritizes the inputs used in measuring fair value as follows: | ||||||||||||||||
• | Level 1 – Quoted prices for identical instruments in active markets. | |||||||||||||||
• | Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations, in which all significant inputs are observable in active markets. | |||||||||||||||
• | Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||||||||
The carrying amounts reported in the Condensed Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and long-term debt approximate their fair values. | ||||||||||||||||
The Company historically had obligations, to be paid in cash, related to its acquisitions if certain future operating and financial goals are met. The fair value of this contingent consideration is determined using an expected present value technique. Expected cash flows are determined using the probability weighted-average of possible outcomes that would occur should delivery of certain product enhancements occur. There is no market data available to use in valuing the contingent consideration; therefore, the Company developed its own assumptions related to the expected future delivery of product enhancements to estimate the fair value of these liabilities. A 2% discount rate is used to fair value the expected payments. The liabilities for the contingent consideration were established at the time of acquisition and are evaluated at each reporting period. The expense is included in “Change in Acquisition Related Contingencies” on the Condensed Consolidated Statements of Operations. | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): | ||||||||||||||||
31-Dec-14 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Contingent consideration to be paid in cash for the acquisitions | $ | — | $ | — | $ | 3,883 | $ | 3,883 | ||||||||
Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
2015 | 2014 | |||||||||||||||
Contingent consideration for acquisitions | ||||||||||||||||
Balance at beginning of period | $ | 3,883 | $ | 9,793 | ||||||||||||
Cash payments | (3,829 | ) | (824 | ) | ||||||||||||
Change in estimates included in earnings | — | 45 | ||||||||||||||
Change due to foreign exchange rate changes | (54 | ) | 36 | |||||||||||||
Balance at end of period | $ | — | $ | 9,050 | ||||||||||||
ACQUIRED_INTANGIBLE_ASSETS_NET
ACQUIRED INTANGIBLE ASSETS, NET | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ||||||||||||||||||||||
Acquired Intangible Assets, Net | ACQUIRED INTANGIBLE ASSETS, NET | |||||||||||||||||||||
Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): | ||||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||
Total Cost | Accumulated | Foreign | Acquired | Weighted- | ||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||
Technology | $ | 10,308 | $ | (7,618 | ) | $ | (328 | ) | $ | 2,362 | 3.5 years | |||||||||||
Trademarks and brand names—Dice | 39,000 | — | — | 39,000 | Indefinite | |||||||||||||||||
Trademarks and brand names—Other | 23,419 | (11,995 | ) | (1,118 | ) | 10,306 | 5.7 years | |||||||||||||||
Customer lists | 63,373 | (42,202 | ) | (2,557 | ) | 18,614 | 5.5 years | |||||||||||||||
Candidate and content database | 24,888 | (18,715 | ) | (173 | ) | 6,000 | 2.7 years | |||||||||||||||
Acquired intangible assets, net | $ | 160,988 | $ | (80,530 | ) | $ | (4,176 | ) | $ | 76,282 | ||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||
Total Cost | Accumulated | Foreign | Accumulated Impairment | Acquired | Weighted- | |||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||
Technology | $ | 25,194 | $ | (20,481 | ) | $ | (211 | ) | $ | (1,374 | ) | $ | 3,128 | 3.5 years | ||||||||
Trademarks and brand names—Dice | 39,000 | — | — | — | 39,000 | Indefinite | ||||||||||||||||
Trademarks and brand names—Other | 26,889 | (12,802 | ) | (855 | ) | (1,929 | ) | 11,303 | 6.1 years | |||||||||||||
Customer lists | 69,116 | (43,774 | ) | (1,817 | ) | (3,281 | ) | 20,244 | 5.5 years | |||||||||||||
Candidate and content database | 44,670 | (36,371 | ) | 27 | (656 | ) | 7,670 | 2.7 years | ||||||||||||||
Order backlog | 2,718 | (2,718 | ) | — | — | — | 0.5 years | |||||||||||||||
Acquired intangible assets, net | $ | 207,587 | $ | (116,146 | ) | $ | (2,856 | ) | $ | (7,240 | ) | $ | 81,345 | |||||||||
During the first quarter of 2015, the Company retired certain fully amortized acquired intangible assets no longer in service. | ||||||||||||||||||||||
OilCareers was acquired in March 2014 and the valuation of assets and liabilities was completed during the second quarter of 2014. Identifiable intangible assets for the OilCareers acquisition are included in the total cost as of December 31, 2014. The weighted-average amortization period for the technology, trademarks and brand names, customer lists and candidate and content database are 0.8 years, 2.0 years, 7.0 years and 2.0 years, respectively, related to the OilCareers acquisition. The weighted-average amortization period for the OilCareers trademarks and brand names was changed during the first quarter of 2015 due to the integration of the OilCareers brand with the Rigzone brand during 2015. | ||||||||||||||||||||||
Based on the carrying value of the acquired finite-lived intangible assets recorded as of March 31, 2015, and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): | ||||||||||||||||||||||
April 1, 2015 through December 31, 2015 | $ | 10,360 | ||||||||||||||||||||
2016 | 7,757 | |||||||||||||||||||||
2017 | 4,858 | |||||||||||||||||||||
2018 | 4,320 | |||||||||||||||||||||
2019 | 4,015 | |||||||||||||||||||||
2020 and thereafter | 5,972 | |||||||||||||||||||||
Total | $ | 37,282 | ||||||||||||||||||||
INDEBTEDNESS
INDEBTEDNESS | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Indebtedness | INDEBTEDNESS | |||||||
Credit Agreement—In October 2013, the Company, together with Dice Inc. and Dice Career Solutions, Inc. (collectively, the “Borrowers”) entered into a Credit Agreement (the “Credit Agreement”), which provides for a $50.0 million term loan facility and a revolving loan facility of $200.0 million, with both facilities maturing in October 2018. The Company borrowed $65.0 million under the new Credit Agreement to repay all outstanding indebtedness under the previously existing credit facility dated June 2012, terminating that facility. A portion of the proceeds was also used to pay certain costs associated with the Credit Agreement and for working capital purposes. | ||||||||
Borrowings under the Credit Agreement bear interest at the Company’s option, at a LIBOR rate or a base rate plus a margin. The margin ranges from 1.75% to 2.50% on LIBOR loans and 0.75% to 1.50% on base rate loans, determined by the Company’s most recent consolidated leverage ratio. The term loan requires quarterly payments of $625,000 through December 31, 2015, quarterly payments of $1.3 million from January 1, 2016 through December 31, 2017 and quarterly payments of $8.8 million from January 1, 2018 through September 30, 2018 with the unpaid balance due at maturity and may be prepaid at any time without penalty. There are no scheduled payments for the revolving loan facility of $200.0 million until maturity of the Credit Agreement in October 2018. | ||||||||
The Credit Agreement contains various customary affirmative and negative covenants and also contains certain financial covenants, including a consolidated leverage ratio and a consolidated interest coverage ratio. Negative covenants include restrictions on incurring certain liens; making certain payments, such as stock repurchases and dividend payments; making certain investments; making certain acquisitions; and incurring additional indebtedness. Restricted payments are allowed under the Credit Agreement to the extent the consolidated leverage ratio, calculated on a pro forma basis, is equal to or less than 2.0 to 1.0, plus an additional $5.0 million of restricted payments. The Credit Agreement also provides that the payment of obligations may be accelerated upon the occurrence of customary events of default, including, but not limited to, non-payment, change of control, or insolvency. As of March 31, 2015, the Company was in compliance with all of the financial covenants under the Credit Agreement. | ||||||||
The obligations under the Credit Agreement are guaranteed by three of the Company’s wholly-owned subsidiaries, eFinancialCareers, Inc., Targeted Job Fairs, Inc., and Rigzone.com, Inc., and secured by substantially all of the assets of the Borrowers and the guarantors and stock pledges from certain of the Company’s foreign subsidiaries. | ||||||||
Debt issuance costs of $872,000 were incurred and are being amortized over the life of the loan. These costs are included in interest expense. Unamortized deferred financing costs from the previous credit facility of $878,000 are being amortized over the life of the new Credit Agreement. | ||||||||
The amounts borrowed as of March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | ||||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Amounts borrowed: | ||||||||
Term loan facility | $ | 46,875 | $ | 47,500 | ||||
Revolving credit facility | 58,000 | 63,000 | ||||||
Total borrowed | $ | 104,875 | $ | 110,500 | ||||
Available to be borrowed under revolving facility | $ | 142,000 | $ | 137,000 | ||||
Interest rates: | ||||||||
LIBOR rate loans: | ||||||||
Interest margin | 2 | % | 2 | % | ||||
Actual interest rates | 2.19 | % | 2.19 | % | ||||
Future maturities as of March 31, 2015 are as follows (in thousands): | ||||||||
April 1, 2015 through December 31, 2015 | $ | 1,875 | ||||||
2016 | 5,000 | |||||||
2017 | 5,000 | |||||||
2018 | 93,000 | |||||||
Total minimum payments | $ | 104,875 | ||||||
Borrowings during the year ended December 31, 2014 were to fulfill temporary cash needs to fund operating activities. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES | |||
Leases | ||||
The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of March 31, 2015 are as follows (in thousands): | ||||
April 1, 2015 through December 31, 2015 | $ | 2,830 | ||
2016 | 3,682 | |||
2017 | 3,348 | |||
2018 | 3,353 | |||
2019 | 3,339 | |||
2020 and thereafter | 10,218 | |||
Total minimum payments | $ | 26,770 | ||
Rent expense was $1.0 million for each of the three month periods ended March 31, 2015 and 2014, and is included in General and Administrative expense in the Condensed Consolidated Statements of Operations. | ||||
Litigation | ||||
The Company is subject to various claims from taxing authorities, lawsuits and other complaints arising in the ordinary course of business. The Company records provisions for losses when claims become probable and the amounts are reasonably estimable. Although the outcome of these legal matters cannot be determined, it is the opinion of management that the final resolution of these matters will not have a material effect on the Company’s financial condition, operations or liquidity. | ||||
Tax Contingencies | ||||
The Company operates in a number of tax jurisdictions and is subject to audits and reviews by various taxation authorities with respect to income, payroll, sales and use and other taxes and remittances. The Company may become subject to future tax assessments by various authorities for current or prior periods. The determination of the Company’s worldwide provision for taxes requires judgment and estimation. There are many transactions and calculations where the ultimate tax determination is uncertain. The Company has recorded certain provisions for our tax estimates which we believe are reasonable. |
EQUITY_TRANSACTIONS
EQUITY TRANSACTIONS | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||
Equity Transactions Disclosure | EQUITY TRANSACTIONS | |||||||||||||
Stock Repurchase Plans—The Company’s board of directors approved a stock repurchase program that permits the Company to repurchase its common stock. The following table summarizes the Stock Repurchase Plans approved by the board of directors: | ||||||||||||||
IV | V | |||||||||||||
Approval Date | Dec-13 | Dec-14 | ||||||||||||
Authorized Repurchase Amount of Common Stock | $50 million | $50 million | ||||||||||||
Effective Dates | December 2013 to December 2014 | December 2014 to December 2015 | ||||||||||||
The Company is currently under Stock Repurchase Plan V, which will expire no later than December 2015. Under each plan, management has discretion in determining the conditions under which shares may be purchased from time to time. | ||||||||||||||
During the quarter ended March 31, 2015, purchases of the Company’s common stock pursuant to Stock Repurchase Plans were as follows: | ||||||||||||||
Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value of Shares Purchased | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||
1,027,981 | $ | 8.91 | $ | 9,161,447 | $ | 40,838,500 | ||||||||
Approximately $448,000 of share repurchases had not settled as of March 31, 2015 and are included in accounts payable and accrued expenses in the accompanying Condensed Consolidated Balance Sheets. There were no unsettled share repurchases as of December 31, 2014. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE LOSS | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||
Accumulated Other Comprehensive Income | ACCUMULATED OTHER COMPREHENSIVE LOSS | |||||||||||
Accumulated other comprehensive loss, net consists of the following components, net of tax, (in thousands): | ||||||||||||
March 31, | December 31, | |||||||||||
2015 | 2014 | |||||||||||
Foreign currency translation adjustment | $ | (18,416 | ) | $ | (13,909 | ) | ||||||
Unrealized gains on investments, net of tax of $0 and $0 | 3 | 3 | ||||||||||
Total accumulated other comprehensive loss, net | $ | (18,413 | ) | $ | (13,906 | ) | ||||||
Changes in accumulated other comprehensive loss during the three month period ended March 31, 2015 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (13,909 | ) | $ | 3 | $ | (13,906 | ) | ||||
Other comprehensive loss before reclassifications | (4,507 | ) | — | (4,507 | ) | |||||||
Net current-period other comprehensive loss | (4,507 | ) | — | (4,507 | ) | |||||||
Ending balance | $ | (18,416 | ) | $ | 3 | $ | (18,413 | ) | ||||
Changes in accumulated other comprehensive loss during the three month period ended March 31, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (6,117 | ) | $ | 3 | $ | (6,114 | ) | ||||
Other comprehensive loss before reclassifications | (1,086 | ) | — | (1,086 | ) | |||||||
Net current-period other comprehensive loss | (1,086 | ) | — | (1,086 | ) | |||||||
Ending balance | $ | (7,203 | ) | $ | 3 | $ | (7,200 | ) | ||||
STOCK_BASED_COMPENSATION
STOCK BASED COMPENSATION | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||
Stock Based Compensation | STOCK BASED COMPENSATION | ||||||||||||||
Under the 2012 Omnibus Equity Award Plan, the Company has granted stock options, restricted stock and Performance-Based Restricted Stock Units (“PSUs”) to certain employees and directors. Compensation expense for stock-based awards made to employees and directors in return for service is recorded in accordance with Compensation-Stock Compensation of the FASB ASC. The Company estimates forfeitures that it expects will occur and records expense based upon the number of awards expected to vest. | |||||||||||||||
The Company recorded total stock based compensation expense of $2.5 million and $2.3 million during the three month periods ended March 31, 2015 and 2014, respectively. At March 31, 2015, there was $24.3 million of unrecognized compensation expense related to unvested awards, which is expected to be recognized over a weighted-average period of approximately 2.0 years. | |||||||||||||||
PSUs—PSUs are granted to employees of the Company and its subsidiaries. These shares are part of the compensation plan for services provided by the employees. The fair value of PSUs is measured using the Monte Carlo pricing model. The expense related to the PSUs is recorded over the vesting period. There was no cash flow impact resulting from the grants. | |||||||||||||||
During the three month period ended March 31, 2015, the Company granted 415,000 PSUs. These shares will vest on the dates the Compensation Committee certifies the Company’s achievement of stock price performance relative to the Russell 2000 Index, provided that the recipient remains employed through such date. Performance will be measured over three separate measurement periods: a one-year measurement period, a two-year measurement period and a three-year measurement period. For performance periods one and two, vesting is not to exceed total grant divided by three. For performance period three, vesting is no less than zero and no greater than 150% of initial grant less shares vested in performance periods one and two. The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions: | |||||||||||||||
Three Months Ended | |||||||||||||||
31-Mar-15 | |||||||||||||||
Weighted average fair value of PSUs granted | $ | 9.25 | |||||||||||||
Dividend yield | — | % | |||||||||||||
Risk free interest rate | 1.1 | % | |||||||||||||
Expected volatility | 33.6 | % | |||||||||||||
Restricted Stock—Restricted stock is granted to employees of the Company and its subsidiaries, and to non-employee members of the Company’s Board. These shares are part of the compensation plan for services provided by the employees or Board members. The closing price of the Company’s stock on the date of grant is used to determine the fair value of the grants. The expense related to the restricted stock grants is recorded over the vesting period. There was no cash flow impact resulting from the grants. | |||||||||||||||
A summary of the status of restricted stock awards as of March 31, 2015 and 2014 and the changes during the periods then ended is presented below: | |||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | ||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||
Non-vested at beginning of the period | 1,786,581 | $ | 8.45 | 1,560,375 | $ | 9.81 | |||||||||
Granted—Restricted Stock | 1,068,000 | $ | 8.83 | 785,000 | $ | 7.19 | |||||||||
Forfeited during the period | (57,250 | ) | $ | 8.07 | (54,125 | ) | $ | 9.62 | |||||||
Vested during the period | (473,131 | ) | $ | 9.27 | (450,369 | ) | $ | 10.17 | |||||||
Non-vested at end of period | 2,324,200 | $ | 8.47 | 1,840,881 | $ | 8.61 | |||||||||
Stock Options—The fair value of each option grant is estimated using the Black-Scholes option-pricing model. This valuation model requires the Company to make assumptions and judgments about the variables used in the calculation, including the fair value of the Company’s common stock, the expected life (the period of time that the options granted are expected to be outstanding), the volatility of the Company’s common stock, a risk-free interest rate and expected dividends. The expected life of options granted is derived from historical exercise behavior. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury rates in effect at the time of grant. The expense is measured at the grant-date fair value of the award and recognized as compensation expense on a straight-line basis over the service period, which is the vesting period. No stock options were granted during the three month period ended March 31, 2015. The fair value of each option grant is estimated using the Black-Scholes option-pricing model using the following assumptions: | |||||||||||||||
Three Months Ended | |||||||||||||||
March 31, 2014 | |||||||||||||||
The weighted average fair value of options granted | $ | 2.62 | |||||||||||||
Dividend yield | — | % | |||||||||||||
Weighted average risk free interest rate | 1.56 | % | |||||||||||||
Weighted average expected volatility | 40.88 | % | |||||||||||||
Expected life (in years) | 4.6 | ||||||||||||||
A summary of the status of options granted as of March 31, 2015 and 2014, and the changes during the periods then ended is presented below: | |||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||
Options outstanding at beginning of period | 4,667,738 | $ | 6.14 | $ | 19,357,512 | ||||||||||
Exercised | (578,465 | ) | $ | 6.15 | $ | 1,926,544 | |||||||||
Forfeited | (25,037 | ) | $ | 10.28 | — | ||||||||||
Options outstanding at end of period | 4,064,236 | $ | 6.18 | $ | 12,593,742 | ||||||||||
Exercisable at end of period | 3,112,636 | $ | 5.51 | $ | 11,818,654 | ||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||
Options outstanding at beginning of period | 7,536,601 | $ | 5.53 | $ | 17,493,907 | ||||||||||
Granted | 589,000 | $ | 7.2 | — | |||||||||||
Exercised | (497,346 | ) | $ | 5.07 | $ | 1,069,105 | |||||||||
Forfeited | (119,204 | ) | $ | 10.3 | — | ||||||||||
Options outstanding at end of period | 7,509,051 | $ | 5.62 | $ | 17,674,282 | ||||||||||
Exercisable at end of period | 5,988,158 | $ | 4.87 | $ | 17,512,912 | ||||||||||
The weighted-average remaining contractual term of options exercisable at March 31, 2015 is 2.1 years. The following table summarizes information about options outstanding as of March 31, 2015: | |||||||||||||||
Options Outstanding | Options | ||||||||||||||
Exercisable | |||||||||||||||
Exercise Price | Number | Weighted- | Number | ||||||||||||
Outstanding | Average | Exercisable | |||||||||||||
Remaining | |||||||||||||||
Contractual | |||||||||||||||
Life | |||||||||||||||
(in years) | |||||||||||||||
$ 0.20 - $ 0.99 | 313,791 | 0.4 | 313,791 | ||||||||||||
$ 1.00 - $ 3.99 | 721,364 | 0.6 | 721,364 | ||||||||||||
$ 4.00 - $ 5.99 | 516,070 | 1.6 | 516,070 | ||||||||||||
$ 6.00 - $ 8.99 | 1,683,673 | 3.9 | 1,071,448 | ||||||||||||
$ 9.00 - $ 14.50 | 829,338 | 4.6 | 489,963 | ||||||||||||
4,064,236 | 3,112,636 | ||||||||||||||
SEGMENT_INFORMATION
SEGMENT INFORMATION | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||
Segment Information | SEGMENT INFORMATION | |||||||||||||||||||||||||||
The Company changed its reportable segments during the first quarter of 2015 to reflect the current operating structure. Accordingly, all prior periods have been recast to reflect the current segment presentation. | ||||||||||||||||||||||||||||
The Company has five reportable segments: Tech & Clearance, Finance, Energy, Healthcare and Hospitality. The Tech & Clearance reportable segment includes the Dice, ClearanceJobs, and The IT Job Board services, as well as related career fairs. The Finance reportable segment includes the eFinancialCareers service worldwide. The Energy reportable segment includes the Rigzone service, OilCareers service (since the date of acquisition) and related career fairs. The Healthcare reportable segment includes HEALTHeCAREERS and BioSpace services. The Hospitality reportable segment includes Hcareers. Management has organized its reportable segments based upon the industry verticals served. Each of the reportable segments generates significant 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, operating income or total assets. These include Slashdot Media, WorkDigital and IT Media and are reported in the “Corporate & Other” category, along with corporate-related costs which are not considered in a segment. | ||||||||||||||||||||||||||||
The Company’s foreign operations are comprised of The IT Job Board operations and a portion of the eFinancialCareers, OilCareers and Rigzone services, which operate in Europe, the financial centers of the gulf region of the Middle East and Asia Pacific. The Company’s foreign operations also include Hcareers, which operates in Canada. | ||||||||||||||||||||||||||||
The following table shows the segment information (in thousands): | ||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
By Segment: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 33,324 | $ | 31,834 | ||||||||||||||||||||||||
Finance | 8,585 | 8,809 | ||||||||||||||||||||||||||
Energy | 6,319 | 5,921 | ||||||||||||||||||||||||||
Healthcare | 7,067 | 6,451 | ||||||||||||||||||||||||||
Hospitality | 4,011 | 2,931 | ||||||||||||||||||||||||||
Corporate & Other | 4,464 | 4,744 | ||||||||||||||||||||||||||
Total revenues | $ | 63,770 | $ | 60,690 | ||||||||||||||||||||||||
Depreciation: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,588 | $ | 1,569 | ||||||||||||||||||||||||
Finance | 132 | 136 | ||||||||||||||||||||||||||
Energy | 51 | 36 | ||||||||||||||||||||||||||
Healthcare | 277 | 699 | ||||||||||||||||||||||||||
Hospitality | 45 | 59 | ||||||||||||||||||||||||||
Corporate & Other | 110 | 322 | ||||||||||||||||||||||||||
Total depreciation | $ | 2,203 | $ | 2,821 | ||||||||||||||||||||||||
Amortization: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 880 | $ | 964 | ||||||||||||||||||||||||
Finance | 19 | 19 | ||||||||||||||||||||||||||
Energy | 1,746 | 775 | ||||||||||||||||||||||||||
Healthcare | 464 | 1,820 | ||||||||||||||||||||||||||
Hospitality | 505 | 573 | ||||||||||||||||||||||||||
Corporate & Other | 129 | 160 | ||||||||||||||||||||||||||
Total amortization | $ | 3,743 | $ | 4,311 | ||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 11,169 | $ | 10,959 | ||||||||||||||||||||||||
Finance | 1,291 | 1,694 | ||||||||||||||||||||||||||
Energy | (190 | ) | 1,193 | |||||||||||||||||||||||||
Healthcare | (559 | ) | (2,252 | ) | ||||||||||||||||||||||||
Hospitality | 1,176 | 230 | ||||||||||||||||||||||||||
Corporate & Other | (3,727 | ) | (3,948 | ) | ||||||||||||||||||||||||
Operating income | 9,160 | 7,876 | ||||||||||||||||||||||||||
Interest expense | (808 | ) | (893 | ) | ||||||||||||||||||||||||
Other expense | (27 | ) | (8 | ) | ||||||||||||||||||||||||
Income before income taxes | $ | 8,325 | $ | 6,975 | ||||||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,301 | $ | 1,290 | ||||||||||||||||||||||||
Finance | 310 | 321 | ||||||||||||||||||||||||||
Energy | 53 | — | ||||||||||||||||||||||||||
Healthcare | 806 | 336 | ||||||||||||||||||||||||||
Hospitality | 16 | 4 | ||||||||||||||||||||||||||
Corporate & Other | 31 | 122 | ||||||||||||||||||||||||||
Total capital expenditures | $ | 2,517 | $ | 2,073 | ||||||||||||||||||||||||
By Geography: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
United States | $ | 49,042 | $ | 44,988 | ||||||||||||||||||||||||
Non-United States | 14,728 | 15,702 | ||||||||||||||||||||||||||
Total revenues | $ | 63,770 | $ | 60,690 | ||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 185,410 | $ | 185,558 | ||||||||||||||||||||||||
Finance | 69,277 | 69,960 | ||||||||||||||||||||||||||
Energy | 78,043 | 85,043 | ||||||||||||||||||||||||||
Healthcare | 21,874 | 20,794 | ||||||||||||||||||||||||||
Hospitality | 30,519 | 33,777 | ||||||||||||||||||||||||||
Corporate & Other | 28,464 | 32,115 | ||||||||||||||||||||||||||
Total assets | $ | 413,587 | $ | 427,247 | ||||||||||||||||||||||||
The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2014 and March 31, 2015 and the changes in goodwill for the three month period ended March 31, 2015 (in thousands): | ||||||||||||||||||||||||||||
Tech & Clearance | Finance | Energy | Healthcare | Hospitality | Corporate & Other | Total | ||||||||||||||||||||||
Goodwill at December 31, 2014 | $ | 95,946 | $ | 53,473 | $ | 50,187 | $ | 6,269 | $ | 15,871 | $ | 17,510 | $ | 239,256 | ||||||||||||||
Foreign currency translation adjustment | (418 | ) | (2,026 | ) | — | — | (1,274 | ) | (787 | ) | (4,505 | ) | ||||||||||||||||
Goodwill at March 31, 2015 | $ | 95,528 | $ | 51,447 | $ | 50,187 | $ | 6,269 | $ | 14,597 | $ | 16,723 | $ | 234,751 | ||||||||||||||
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Earnings Per Share | EARNINGS PER SHARE | |||||||
Basic earnings per share (“EPS”) is computed based on the weighted-average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted-average number of shares of common stock outstanding plus common stock equivalents assuming exercise of stock options, where dilutive. Options to purchase approximately 1.9 million, 3.1 million shares were outstanding during the three month periods ended March 31, 2015 and 2014, respectively, but were excluded from the calculation of diluted EPS for the periods then ended because the options’ exercise price was greater than the average market price of the common shares. The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Income from continuing operations—basic and diluted | $ | 5,092 | $ | 4,395 | ||||
Weighted-average shares outstanding—basic | 52,267 | 53,105 | ||||||
Add shares issuable upon exercise of stock options | 2,025 | 2,271 | ||||||
Weighted-average shares outstanding—diluted | 54,292 | 55,376 | ||||||
Basic earnings per share | $ | 0.1 | $ | 0.08 | ||||
Diluted earnings per share | $ | 0.09 | $ | 0.08 | ||||
ACQUISITIONS_Tables
ACQUISITIONS (Tables) (OilCareers [Member]) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
OilCareers [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The final valuation of assets and liabilities recognized as of the acquisition date for OilCareers include (in thousands): | |||||
OilCareers Acquisition | ||||||
Assets: | ||||||
Accounts receivable | $ | 1,082 | ||||
Acquired intangible assets | 14,508 | |||||
Goodwill | 15,078 | |||||
Fixed assets | 98 | |||||
Other assets | 196 | |||||
Assets acquired | 30,962 | |||||
Liabilities: | ||||||
Accounts payable and accrued expenses | $ | 567 | ||||
Deferred revenue | 1,081 | |||||
Deferred income taxes | 2,916 | |||||
Liabilities assumed | 4,564 | |||||
Net Assets Acquired | $ | 26,398 | ||||
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | The assets and liabilities measured at fair value on a recurring basis are as follows (in thousands): | |||||||||||||||
31-Dec-14 | ||||||||||||||||
Fair Value Measurements Using | Total | |||||||||||||||
Quoted Prices in | Significant Other | Significant | ||||||||||||||
Active Markets for | Observable | Unobservable | ||||||||||||||
Identical Assets | Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Contingent consideration to be paid in cash for the acquisitions | $ | — | $ | — | $ | 3,883 | $ | 3,883 | ||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Reconciliations of liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) are as follows (in thousands): | |||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
2015 | 2014 | |||||||||||||||
Contingent consideration for acquisitions | ||||||||||||||||
Balance at beginning of period | $ | 3,883 | $ | 9,793 | ||||||||||||
Cash payments | (3,829 | ) | (824 | ) | ||||||||||||
Change in estimates included in earnings | — | 45 | ||||||||||||||
Change due to foreign exchange rate changes | (54 | ) | 36 | |||||||||||||
Balance at end of period | $ | — | $ | 9,050 | ||||||||||||
ACQUIRED_INTANGIBLE_ASSETS_NET1
ACQUIRED INTANGIBLE ASSETS, NET (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ||||||||||||||||||||||
Schedule of Acquired Intangible Assets | Below is a summary of the major acquired intangible assets and the weighted-average amortization period for the acquired identifiable intangible assets (in thousands): | |||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||
Total Cost | Accumulated | Foreign | Acquired | Weighted- | ||||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||
Technology | $ | 10,308 | $ | (7,618 | ) | $ | (328 | ) | $ | 2,362 | 3.5 years | |||||||||||
Trademarks and brand names—Dice | 39,000 | — | — | 39,000 | Indefinite | |||||||||||||||||
Trademarks and brand names—Other | 23,419 | (11,995 | ) | (1,118 | ) | 10,306 | 5.7 years | |||||||||||||||
Customer lists | 63,373 | (42,202 | ) | (2,557 | ) | 18,614 | 5.5 years | |||||||||||||||
Candidate and content database | 24,888 | (18,715 | ) | (173 | ) | 6,000 | 2.7 years | |||||||||||||||
Acquired intangible assets, net | $ | 160,988 | $ | (80,530 | ) | $ | (4,176 | ) | $ | 76,282 | ||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||
Total Cost | Accumulated | Foreign | Accumulated Impairment | Acquired | Weighted- | |||||||||||||||||
Amortization | Currency | Intangible | Average | |||||||||||||||||||
Translation | Assets, Net | Amortization | ||||||||||||||||||||
Adjustment | Period | |||||||||||||||||||||
Technology | $ | 25,194 | $ | (20,481 | ) | $ | (211 | ) | $ | (1,374 | ) | $ | 3,128 | 3.5 years | ||||||||
Trademarks and brand names—Dice | 39,000 | — | — | — | 39,000 | Indefinite | ||||||||||||||||
Trademarks and brand names—Other | 26,889 | (12,802 | ) | (855 | ) | (1,929 | ) | 11,303 | 6.1 years | |||||||||||||
Customer lists | 69,116 | (43,774 | ) | (1,817 | ) | (3,281 | ) | 20,244 | 5.5 years | |||||||||||||
Candidate and content database | 44,670 | (36,371 | ) | 27 | (656 | ) | 7,670 | 2.7 years | ||||||||||||||
Order backlog | 2,718 | (2,718 | ) | — | — | — | 0.5 years | |||||||||||||||
Acquired intangible assets, net | $ | 207,587 | $ | (116,146 | ) | $ | (2,856 | ) | $ | (7,240 | ) | $ | 81,345 | |||||||||
Schedule of Estimated Future Amortization Expense | Based on the carrying value of the acquired finite-lived intangible assets recorded as of March 31, 2015, and assuming no subsequent impairment of the underlying assets, the estimated future amortization expense is as follows (in thousands): | |||||||||||||||||||||
April 1, 2015 through December 31, 2015 | $ | 10,360 | ||||||||||||||||||||
2016 | 7,757 | |||||||||||||||||||||
2017 | 4,858 | |||||||||||||||||||||
2018 | 4,320 | |||||||||||||||||||||
2019 | 4,015 | |||||||||||||||||||||
2020 and thereafter | 5,972 | |||||||||||||||||||||
Total | $ | 37,282 | ||||||||||||||||||||
INDEBTEDNESS_Tables
INDEBTEDNESS (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Debt Instrument [Line Items] | ||||||||
Schedule of Long-term Debt | The amounts borrowed as of March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | |||||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Amounts borrowed: | ||||||||
Term loan facility | $ | 46,875 | $ | 47,500 | ||||
Revolving credit facility | 58,000 | 63,000 | ||||||
Total borrowed | $ | 104,875 | $ | 110,500 | ||||
Available to be borrowed under revolving facility | $ | 142,000 | $ | 137,000 | ||||
Interest rates: | ||||||||
LIBOR rate loans: | ||||||||
Interest margin | 2 | % | 2 | % | ||||
Actual interest rates | 2.19 | % | 2.19 | % | ||||
Schedule of Maturities of Long-term Debt [Table Text Block] | Future maturities as of March 31, 2015 are as follows (in thousands): | |||||||
April 1, 2015 through December 31, 2015 | $ | 1,875 | ||||||
2016 | 5,000 | |||||||
2017 | 5,000 | |||||||
2018 | 93,000 | |||||||
Total minimum payments | $ | 104,875 | ||||||
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Schedule of Future Minimum Lease Payments | The Company leases equipment and office space under operating leases expiring at various dates through December 2025. Future minimum lease payments under non-cancellable operating leases as of March 31, 2015 are as follows (in thousands): | |||
April 1, 2015 through December 31, 2015 | $ | 2,830 | ||
2016 | 3,682 | |||
2017 | 3,348 | |||
2018 | 3,353 | |||
2019 | 3,339 | |||
2020 and thereafter | 10,218 | |||
Total minimum payments | $ | 26,770 | ||
EQUITY_TRANSACTIONS_Stock_Repu
EQUITY TRANSACTIONS Stock Repurchase Plan (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Class of Treasury Stock [Table Text Block] | The following table summarizes the Stock Repurchase Plans approved by the board of directors: | |||||||||||||
IV | V | |||||||||||||
Approval Date | Dec-13 | Dec-14 | ||||||||||||
Authorized Repurchase Amount of Common Stock | $50 million | $50 million | ||||||||||||
Effective Dates | December 2013 to December 2014 | December 2014 to December 2015 | ||||||||||||
Schedule of Repurchase Agreements [Table Text Block] | During the quarter ended March 31, 2015, purchases of the Company’s common stock pursuant to Stock Repurchase Plans were as follows: | |||||||||||||
Total Number of Shares Purchased | Average Price Paid per Share | Dollar Value of Shares Purchased | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||
1,027,981 | $ | 8.91 | $ | 9,161,447 | $ | 40,838,500 | ||||||||
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||
Schedule of Accumulated Other Comprehensive Income | Changes in accumulated other comprehensive loss during the three month period ended March 31, 2015 are as follows (in thousands): | |||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (13,909 | ) | $ | 3 | $ | (13,906 | ) | ||||
Other comprehensive loss before reclassifications | (4,507 | ) | — | (4,507 | ) | |||||||
Net current-period other comprehensive loss | (4,507 | ) | — | (4,507 | ) | |||||||
Ending balance | $ | (18,416 | ) | $ | 3 | $ | (18,413 | ) | ||||
Changes in accumulated other comprehensive loss during the three month period ended March 31, 2014 are as follows (in thousands): | ||||||||||||
Foreign currency translation adjustment | Unrealized gains on investments | Total | ||||||||||
Beginning balance | $ | (6,117 | ) | $ | 3 | $ | (6,114 | ) | ||||
Other comprehensive loss before reclassifications | (1,086 | ) | — | (1,086 | ) | |||||||
Net current-period other comprehensive loss | (1,086 | ) | — | (1,086 | ) | |||||||
Ending balance | $ | (7,203 | ) | $ | 3 | $ | (7,200 | ) | ||||
Accumulated other comprehensive loss, net consists of the following components, net of tax, (in thousands): | ||||||||||||
March 31, | December 31, | |||||||||||
2015 | 2014 | |||||||||||
Foreign currency translation adjustment | $ | (18,416 | ) | $ | (13,909 | ) | ||||||
Unrealized gains on investments, net of tax of $0 and $0 | 3 | 3 | ||||||||||
Total accumulated other comprehensive loss, net | $ | (18,413 | ) | $ | (13,906 | ) |
STOCK_BASED_COMPENSATION_Table
STOCK BASED COMPENSATION (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Schedule of Nonvested Share Activity | A summary of the status of restricted stock awards as of March 31, 2015 and 2014 and the changes during the periods then ended is presented below: | ||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | ||||||||||||||
Shares | Weighted- Average Fair Value at Grant Date | Shares | Weighted- Average Fair Value at Grant Date | ||||||||||||
Non-vested at beginning of the period | 1,786,581 | $ | 8.45 | 1,560,375 | $ | 9.81 | |||||||||
Granted—Restricted Stock | 1,068,000 | $ | 8.83 | 785,000 | $ | 7.19 | |||||||||
Forfeited during the period | (57,250 | ) | $ | 8.07 | (54,125 | ) | $ | 9.62 | |||||||
Vested during the period | (473,131 | ) | $ | 9.27 | (450,369 | ) | $ | 10.17 | |||||||
Non-vested at end of period | 2,324,200 | $ | 8.47 | 1,840,881 | $ | 8.61 | |||||||||
Schedule of Valuation Assumptions | The fair value of each option grant is estimated using the Black-Scholes option-pricing model using the following assumptions: | ||||||||||||||
Three Months Ended | |||||||||||||||
March 31, 2014 | |||||||||||||||
The weighted average fair value of options granted | $ | 2.62 | |||||||||||||
Dividend yield | — | % | |||||||||||||
Weighted average risk free interest rate | 1.56 | % | |||||||||||||
Weighted average expected volatility | 40.88 | % | |||||||||||||
Expected life (in years) | 4.6 | ||||||||||||||
The fair value of PSUs is measured using the Monte Carlo pricing model using the following assumptions: | |||||||||||||||
Three Months Ended | |||||||||||||||
31-Mar-15 | |||||||||||||||
Weighted average fair value of PSUs granted | $ | 9.25 | |||||||||||||
Dividend yield | — | % | |||||||||||||
Risk free interest rate | 1.1 | % | |||||||||||||
Expected volatility | 33.6 | % | |||||||||||||
Schedule of Status of Options Granted | A summary of the status of options granted as of March 31, 2015 and 2014, and the changes during the periods then ended is presented below: | ||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||
Options outstanding at beginning of period | 4,667,738 | $ | 6.14 | $ | 19,357,512 | ||||||||||
Exercised | (578,465 | ) | $ | 6.15 | $ | 1,926,544 | |||||||||
Forfeited | (25,037 | ) | $ | 10.28 | — | ||||||||||
Options outstanding at end of period | 4,064,236 | $ | 6.18 | $ | 12,593,742 | ||||||||||
Exercisable at end of period | 3,112,636 | $ | 5.51 | $ | 11,818,654 | ||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||
Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | |||||||||||||
Options outstanding at beginning of period | 7,536,601 | $ | 5.53 | $ | 17,493,907 | ||||||||||
Granted | 589,000 | $ | 7.2 | — | |||||||||||
Exercised | (497,346 | ) | $ | 5.07 | $ | 1,069,105 | |||||||||
Forfeited | (119,204 | ) | $ | 10.3 | — | ||||||||||
Options outstanding at end of period | 7,509,051 | $ | 5.62 | $ | 17,674,282 | ||||||||||
Exercisable at end of period | 5,988,158 | $ | 4.87 | $ | 17,512,912 | ||||||||||
Schedule of Exercise Price Range | The following table summarizes information about options outstanding as of March 31, 2015: | ||||||||||||||
Options Outstanding | Options | ||||||||||||||
Exercisable | |||||||||||||||
Exercise Price | Number | Weighted- | Number | ||||||||||||
Outstanding | Average | Exercisable | |||||||||||||
Remaining | |||||||||||||||
Contractual | |||||||||||||||
Life | |||||||||||||||
(in years) | |||||||||||||||
$ 0.20 - $ 0.99 | 313,791 | 0.4 | 313,791 | ||||||||||||
$ 1.00 - $ 3.99 | 721,364 | 0.6 | 721,364 | ||||||||||||
$ 4.00 - $ 5.99 | 516,070 | 1.6 | 516,070 | ||||||||||||
$ 6.00 - $ 8.99 | 1,683,673 | 3.9 | 1,071,448 | ||||||||||||
$ 9.00 - $ 14.50 | 829,338 | 4.6 | 489,963 | ||||||||||||
4,064,236 | 3,112,636 | ||||||||||||||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | The following table shows the segment information (in thousands): | |||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
By Segment: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 33,324 | $ | 31,834 | ||||||||||||||||||||||||
Finance | 8,585 | 8,809 | ||||||||||||||||||||||||||
Energy | 6,319 | 5,921 | ||||||||||||||||||||||||||
Healthcare | 7,067 | 6,451 | ||||||||||||||||||||||||||
Hospitality | 4,011 | 2,931 | ||||||||||||||||||||||||||
Corporate & Other | 4,464 | 4,744 | ||||||||||||||||||||||||||
Total revenues | $ | 63,770 | $ | 60,690 | ||||||||||||||||||||||||
Depreciation: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,588 | $ | 1,569 | ||||||||||||||||||||||||
Finance | 132 | 136 | ||||||||||||||||||||||||||
Energy | 51 | 36 | ||||||||||||||||||||||||||
Healthcare | 277 | 699 | ||||||||||||||||||||||||||
Hospitality | 45 | 59 | ||||||||||||||||||||||||||
Corporate & Other | 110 | 322 | ||||||||||||||||||||||||||
Total depreciation | $ | 2,203 | $ | 2,821 | ||||||||||||||||||||||||
Amortization: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 880 | $ | 964 | ||||||||||||||||||||||||
Finance | 19 | 19 | ||||||||||||||||||||||||||
Energy | 1,746 | 775 | ||||||||||||||||||||||||||
Healthcare | 464 | 1,820 | ||||||||||||||||||||||||||
Hospitality | 505 | 573 | ||||||||||||||||||||||||||
Corporate & Other | 129 | 160 | ||||||||||||||||||||||||||
Total amortization | $ | 3,743 | $ | 4,311 | ||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 11,169 | $ | 10,959 | ||||||||||||||||||||||||
Finance | 1,291 | 1,694 | ||||||||||||||||||||||||||
Energy | (190 | ) | 1,193 | |||||||||||||||||||||||||
Healthcare | (559 | ) | (2,252 | ) | ||||||||||||||||||||||||
Hospitality | 1,176 | 230 | ||||||||||||||||||||||||||
Corporate & Other | (3,727 | ) | (3,948 | ) | ||||||||||||||||||||||||
Operating income | 9,160 | 7,876 | ||||||||||||||||||||||||||
Interest expense | (808 | ) | (893 | ) | ||||||||||||||||||||||||
Other expense | (27 | ) | (8 | ) | ||||||||||||||||||||||||
Income before income taxes | $ | 8,325 | $ | 6,975 | ||||||||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 1,301 | $ | 1,290 | ||||||||||||||||||||||||
Finance | 310 | 321 | ||||||||||||||||||||||||||
Energy | 53 | — | ||||||||||||||||||||||||||
Healthcare | 806 | 336 | ||||||||||||||||||||||||||
Hospitality | 16 | 4 | ||||||||||||||||||||||||||
Corporate & Other | 31 | 122 | ||||||||||||||||||||||||||
Total capital expenditures | $ | 2,517 | $ | 2,073 | ||||||||||||||||||||||||
By Geography: | ||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||
United States | $ | 49,042 | $ | 44,988 | ||||||||||||||||||||||||
Non-United States | 14,728 | 15,702 | ||||||||||||||||||||||||||
Total revenues | $ | 63,770 | $ | 60,690 | ||||||||||||||||||||||||
March 31, | December 31, | |||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Total assets: | ||||||||||||||||||||||||||||
Tech & Clearance | $ | 185,410 | $ | 185,558 | ||||||||||||||||||||||||
Finance | 69,277 | 69,960 | ||||||||||||||||||||||||||
Energy | 78,043 | 85,043 | ||||||||||||||||||||||||||
Healthcare | 21,874 | 20,794 | ||||||||||||||||||||||||||
Hospitality | 30,519 | 33,777 | ||||||||||||||||||||||||||
Corporate & Other | 28,464 | 32,115 | ||||||||||||||||||||||||||
Total assets | $ | 413,587 | $ | 427,247 | ||||||||||||||||||||||||
The following table shows the carrying amount of goodwill by reportable segment as of December 31, 2014 and March 31, 2015 and the changes in goodwill for the three month period ended March 31, 2015 (in thousands): | ||||||||||||||||||||||||||||
Tech & Clearance | Finance | Energy | Healthcare | Hospitality | Corporate & Other | Total | ||||||||||||||||||||||
Goodwill at December 31, 2014 | $ | 95,946 | $ | 53,473 | $ | 50,187 | $ | 6,269 | $ | 15,871 | $ | 17,510 | $ | 239,256 | ||||||||||||||
Foreign currency translation adjustment | (418 | ) | (2,026 | ) | — | — | (1,274 | ) | (787 | ) | (4,505 | ) | ||||||||||||||||
Goodwill at March 31, 2015 | $ | 95,528 | $ | 51,447 | $ | 50,187 | $ | 6,269 | $ | 14,597 | $ | 16,723 | $ | 234,751 | ||||||||||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Schedule of Earnings Per Share, Basic and Diluted | The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts): | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Income from continuing operations—basic and diluted | $ | 5,092 | $ | 4,395 | ||||
Weighted-average shares outstanding—basic | 52,267 | 53,105 | ||||||
Add shares issuable upon exercise of stock options | 2,025 | 2,271 | ||||||
Weighted-average shares outstanding—diluted | 54,292 | 55,376 | ||||||
Basic earnings per share | $ | 0.1 | $ | 0.08 | ||||
Diluted earnings per share | $ | 0.09 | $ | 0.08 | ||||
ACQUISITIONS_Details
ACQUISITIONS (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
Payments for acquisitions, net of cash acquired | $0 | $26,724 | ||
Net assets acquired based on fair values: | ||||
Goodwill | 234,751 | 239,256 | ||
Net income | 5,092 | 4,395 | ||
Amortization of intangible assets | 3,743 | 4,311 | ||
Basic earnings per share (in dollars per share) | $0.10 | $0.08 | ||
OilCareers [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash consideration paid | 26,100 | 300 | ||
Net assets acquired based on fair values: | ||||
Business Combination, Acquired Receivables, Fair Value | 1,082 | |||
Acquired intangible assets | 14,508 | |||
Goodwill | 15,078 | |||
Fixed Assets | 98 | |||
Other Assets | 196 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 30,962 | |||
Accounts payable and accrued expenses | 567 | |||
Deferred Revenue | 1,081 | |||
Deferred Income Taxes and Other Tax Liabilities, Noncurrent | 2,916 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 4,564 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 26,398 | |||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 1,200 | |||
Business Combination, Acquired Receivables, Fair Value | $1,082 | |||
Technology Equipment [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 6 months | 3 years 6 months | ||
Technology Equipment [Member] | OilCareers [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 months 18 days | |||
Trademarks, Other [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 8 months 1 day | 6 years 1 month 1 day | ||
Trademarks, Other [Member] | OilCareers [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years | |||
Customer Lists [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 6 months | 5 years 5 months 18 days | ||
Customer Lists [Member] | OilCareers [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | |||
Candidate Database [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 8 months 12 days | 2 years 8 months 18 days | ||
Candidate Database [Member] | OilCareers [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years |
FAIR_VALUE_MEASUREMENTS_Detail
FAIR VALUE MEASUREMENTS (Details) | Mar. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
discount rate used to fair value the expected payments | 2.00% |
FAIR_VALUE_MEASUREMENTS_Fair_V
FAIR VALUE MEASUREMENTS (Fair Value on a Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Fair Value, Inputs, Level 1 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair value of contingent consideration | $0 |
Fair Value, Inputs, Level 2 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair value of contingent consideration | 0 |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair value of contingent consideration | 3,883 |
Estimate of Fair Value Measurement [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair value of contingent consideration | $3,883 |
FAIR_VALUE_MEASUREMENTS_Unobse
FAIR VALUE MEASUREMENTS (Unobservable Level 3 Inputs) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance at beginning period | $3,883 | $9,793 |
Cash payments | -3,829 | -824 |
Change in estimates included in earnings | 0 | 45 |
Change due to foreign exchange rate changes | -54 | -36 |
Balance at end of period | $0 | $9,050 |
ACQUIRED_INTANGIBLE_ASSETS_NET2
ACQUIRED INTANGIBLE ASSETS, NET (Acquired Intangible Assets) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | ($7,240) | |
Finite-lived Intangible Assets Acquired | 0 | |
Finite-Lived Intangible Assets, Net | 37,282 | |
Acquired Intangible Assets, Net | 160,988 | 207,587 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -80,530 | -116,146 |
Foreign Currency Translation Adjustment, Finite-lived | -4,176 | -2,856 |
Finite-lived and Indefinite-lived Intangible Assets Acquired | 76,282 | 81,345 |
Trademarks [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | 0 | |
Finite-lived Intangible Assets Acquired | 39,000 | 39,000 |
Finite-Lived Intangible Assets, Net | 39,000 | 39,000 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | 0 | 0 |
Foreign Currency Translation Adjustment, Finite-lived | 0 | 0 |
Technology Equipment [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | -1,374 | |
Finite-lived Intangible Assets Acquired | 2,362 | 3,128 |
Finite-Lived Intangible Assets, Net | 10,308 | 25,194 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -7,618 | -20,481 |
Foreign Currency Translation Adjustment, Finite-lived | -328 | -211 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 6 months | 3 years 6 months |
Trademarks, Other [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | -1,929 | |
Finite-lived Intangible Assets Acquired | 10,306 | 11,303 |
Finite-Lived Intangible Assets, Net | 23,419 | 26,889 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -11,995 | -12,802 |
Foreign Currency Translation Adjustment, Finite-lived | -1,118 | -855 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 8 months 1 day | 6 years 1 month 1 day |
Customer Lists [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | -3,281 | |
Finite-lived Intangible Assets Acquired | 18,614 | 20,244 |
Finite-Lived Intangible Assets, Net | 63,373 | 69,116 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -42,202 | -43,774 |
Foreign Currency Translation Adjustment, Finite-lived | -2,557 | -1,817 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years 6 months | 5 years 5 months 18 days |
Candidate Database [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | -656 | |
Finite-lived Intangible Assets Acquired | 6,000 | 7,670 |
Finite-Lived Intangible Assets, Net | 24,888 | 44,670 |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -18,715 | -36,371 |
Foreign Currency Translation Adjustment, Finite-lived | -173 | 27 |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years 8 months 12 days | 2 years 8 months 18 days |
Order Backlog [Member] | ||
Schedule of Acquired Finite-Lived and Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Intangible Assets | 0 | |
Finite-Lived Intangible Assets, Net | 2,718 | |
Finite-Lived Intangible Assets, Net [Abstract] | ||
Accumulated Amortization, Finite-lived | -2,718 | |
Foreign Currency Translation Adjustment, Finite-lived | $0 | |
OilCareers [Member] | Technology Equipment [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 9 months 18 days | |
OilCareers [Member] | Trademarks, Other [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years | |
OilCareers [Member] | Customer Lists [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | |
OilCareers [Member] | Candidate Database [Member] | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 2 years |
ACQUIRED_INTANGIBLE_ASSETS_NET3
ACQUIRED INTANGIBLE ASSETS, NET (Estimated Future Amortization Expense) (Details) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
April 1, 2015 through December 31, 2015 | $10,360 |
2016 | 7,757 |
2017 | 4,858 |
2018 | 4,320 |
2019 | 4,015 |
2020 and thereafter | 5,972 |
Finite-Lived Intangible Assets, Net | $37,282 |
INDEBTEDNESS_Details
INDEBTEDNESS (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
restricted payments under the Credit Agreement | 5,000 | |
Total borrowed | 104,875 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2015 | 1,875 | |
2016 | 5,000 | |
2017 | 5,000 | |
2018 | 93,000 | |
Total minimum payments | 104,875 | |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Ratio of Indebtedness to Net Capital, Pro forma basis | 2 | |
Debt Instrument, Redemption, Period One [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Periodic Payment | 625 | |
Debt Instrument, Redemption, Period Two [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Periodic Payment | 1,300 | |
Debt Instrument, Redemption, Period Three [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Periodic Payment | 8,800 | |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Face amount on debt | 65,000 | |
Number of wholly-owned subsidiaries | 3 | |
Debt issuance costs | 872 | |
Total borrowed | 104,875 | 110,500 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total minimum payments | 104,875 | 110,500 |
Credit Agreement [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 2.00% | 2.00% |
Credit Agreement [Member] | LIBOR [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 1.75% | |
Credit Agreement [Member] | LIBOR [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 2.50% | |
Credit Agreement [Member] | Base Rate [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 0.75% | |
Credit Agreement [Member] | Base Rate [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 1.50% | |
Previous Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Write-off of deferred financing costs | 878 | |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Maximum available to be borrowed under revolving facility | 142,000 | 137,000 |
Revolving Credit Facility [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Maximum available to be borrowed under revolving facility | 200,000 | |
Total borrowed | 58,000 | 63,000 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total minimum payments | 58,000 | 63,000 |
Term Facility [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Maximum available to be borrowed under revolving facility | 50,000 | |
Total borrowed | 46,875 | 47,500 |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total minimum payments | 46,875 | 47,500 |
INDEBTEDNESS_Schedule_of_Credi
INDEBTEDNESS (Schedule of Credit Agreement) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Total borrowed | 104,875 | |
Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Total borrowed | 104,875 | 110,500 |
Term Facility [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Total borrowed | 46,875 | 47,500 |
Maximum available to be borrowed under revolving facility | 50,000 | |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Maximum available to be borrowed under revolving facility | 142,000 | 137,000 |
Revolving Credit Facility [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Total borrowed | 58,000 | 63,000 |
Maximum available to be borrowed under revolving facility | 200,000 | |
LIBOR [Member] | Credit Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 2.00% | 2.00% |
Actual interest rates | 2.19% | 2.19% |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||
April 1, 2015 through December 31, 2015 | $2,830 | |
2016 | 3,682 | |
2017 | 3,348 | |
2018 | 3,353 | |
2019 | 3,339 | |
2020 and thereafter | 10,218 | |
Total minimum payments | 26,770 | |
Operating Leases, Rent Expense, Net [Abstract] | ||
Rent expense | 1,034 | 1,000 |
Change in accrual for unrecognized tax benefits | $83 | $153 |
EQUITY_TRANSACTIONS_Details
EQUITY TRANSACTIONS (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Stock Repurchase Plan [Abstract] | ||
Stock repurchase, amount | $1,028 | |
Average cost per share | $8.91 | |
Total costs of shares | 9,161 | |
Share repurchases included in accounts payable and accrued expenses | 448 | 0 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased, Amount | $40,839 |
EQUITY_TRANSACTIONS_Stock_Repu1
EQUITY TRANSACTIONS Stock Repurchase Plan (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Stock Repurchase Plan IV [Domain] | ||
Accelerated Share Repurchases [Line Items] | ||
Stock Repurchase Program, Authorized Amount | $50,000 | |
Stock Repurchase Plan V [Domain] [Member] | ||
Accelerated Share Repurchases [Line Items] | ||
Stock Repurchase Program, Authorized Amount | $50,000 |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | $3 | |
Balance at end of year | 3 | |
Balance at beginning of year | -13,909 | |
Foreign currency translation adjustment | -4,507 | -1,086 |
Balance at end of year | -18,416 | |
Balance at beginning of year | -13,906 | -6,114 |
Balance at end of year | -18,413 | -7,200 |
Other Comprehensive Income (Loss), Net of Tax | -4,507 | -1,086 |
Accumulated Translation Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | 13,909 | 6,117 |
Foreign currency translation adjustment | -4,507 | -1,086 |
Balance at end of year | 18,416 | 7,203 |
Other Comprehensive Income (Loss), Net of Tax | -4,507 | -1,086 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | 3 | 3 |
Balance at end of year | 3 | 3 |
Foreign currency translation adjustment | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | $0 | $0 |
STOCK_BASED_COMPENSATION_Detai
STOCK BASED COMPENSATION (Details) (USD $) | 3 Months Ended | |||
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 4,064 | 7,509 | 4,668 | 7,537 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $6.18 | $5.62 | $6.14 | $5.53 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $12,594,000 | $17,674,000 | $19,358,000 | $17,494,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 589 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $7.20 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 578 | -497 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $6.15 | $5.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 1,927,000 | 1,069,000 | ||
Forfeited, Options | -25 | -119 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $10.28 | $10.30 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 3,113 | 5,988 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $5.51 | $4.87 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 11,819,000 | 17,513,000 | ||
Stock based compensation expense | 2,500,000 | 2,300,000 | ||
Unrecognized compensation expense | $24,300,000 | |||
Weighted-average period | 2 years |
STOCK_BASED_COMPENSATION_Statu
STOCK BASED COMPENSATION (Status of Restricted Stock) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Restricted Stock [Member] | ||
Nonvested, Number of Shares [Roll Forward] | ||
Non-vested at beginning of the period, Shares | 1,787,000 | 1,560,000 |
Granted- Restricted Stock, Shares | 1,068,000 | 785,000 |
Forfeited during the period, Shares | -57,000 | -54,000 |
Vested during the period, Shares | -473,000 | -450,000 |
Non-vested at end of period, Shares | 2,324,000 | 1,841,000 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ||
Non-vested at beginning of the period, Weighted Average Grant Date Fair Value | $8.45 | $9.81 |
Granted- Restricted Stock, Weighted Average Grant Date Fair Value | $8.83 | $7.19 |
Forfeited during the period, Weighted Average Grant Date Fair Value | $8.07 | $9.62 |
Vested during the period, Weighted Average Grant Date Fair Value | $9.27 | $10.17 |
Non-vested at end of period, Weighted Average Grant Date Fair Value | $8.47 | $8.61 |
Performance Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
The weighted average fair value of options granted | $9.25 | |
Dividend yield | 0.00% | |
Weighted average risk free interest rate | 1.10% | |
Weighted average expected volatility | 33.60% | |
Nonvested, Number of Shares [Roll Forward] | ||
Granted- Restricted Stock, Shares | 415,000 |
STOCK_BASED_COMPENSATION_Fair_
STOCK BASED COMPENSATION (Fair Value Assumptions) (Details) (Employee Stock Option [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Employee Stock Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
The weighted average fair value of options granted | $2.62 |
Dividend yield | 0.00% |
Weighted average risk free interest rate | 1.56% |
Weighted average expected volatility | 40.88% |
Expected life | 4 years 7 months 5 days |
STOCK_BASED_COMPENSATION_Summa
STOCK BASED COMPENSATION (Summary of Status of Options) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Options, Outstanding [Roll Forward] | ||
Options outstanding at beginning of period, Options | 4,668 | 7,537 |
Granted, Options | 589 | |
Exercised, Options | 578 | -497 |
Forfeited, Options | -25 | -119 |
Options outstanding at end of period, Options | 4,064 | 7,509 |
Exercisable at end of period, Options | 3,113 | 5,988 |
Weighted Average Exercise Price [Roll Forward] | ||
Options outstanding at beginning of period, Weighted Average Exercise Price | $6.14 | $5.53 |
Granted, Weighted Average Exercise Price | $7.20 | |
Exercised, Weighted Average Exercise Price | $6.15 | $5.07 |
Forfeited, Weighted Average Exercise Price | $10.28 | $10.30 |
Options outstanding at end of period, Weighted Average Exercise Price | $6.18 | $5.62 |
Exercisable at end of period, Weighted Average Exercise Price | $5.51 | $4.87 |
Aggregate Instrinsic Value [Abstract] | ||
Options outstanding at beginning of period, Aggregate Intrinsic Value | $19,358 | $17,494 |
Exercised, Aggregate Intrinsic Value | 1,927 | 1,069 |
Forfeited, Aggregate Intrinsic Value | 0 | 0 |
Options outstanding at end of period, Aggregate Intrinsic Value | 12,594 | 17,674 |
Exercisable at end of period, Aggregate Intrinsic Value | $11,819 | $17,513 |
STOCK_BASED_COMPENSATION_Summa1
STOCK BASED COMPENSATION (Summary of Options Outstanding) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of Options Outstanding | 4,064 | |
Weighted Average Remaining Contractual Life | 2 years 1 month 24 days | |
Number of Exercisable Options | 3,113 | |
$0.20 - $0.99 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise Price, Lower Limit | 0.2 | |
Exercise Price, Upper Limit | 0.99 | |
Number of Options Outstanding | 314 | |
Weighted Average Remaining Contractual Life | 4 months 24 days | |
Number of Exercisable Options | 314 | |
$1.00 - $3.99 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise Price, Lower Limit | 1 | |
Exercise Price, Upper Limit | 3.99 | |
Number of Options Outstanding | 721 | |
Weighted Average Remaining Contractual Life | 7 months 24 days | |
Number of Exercisable Options | 721 | |
$4.00 - $5.99 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise Price, Lower Limit | 4 | |
Exercise Price, Upper Limit | 5.99 | |
Number of Options Outstanding | 516 | |
Weighted Average Remaining Contractual Life | 1 year 7 months 10 days | |
Number of Exercisable Options | 516 | |
$6.00 - $8.99 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise Price, Lower Limit | 6 | |
Exercise Price, Upper Limit | 8.99 | |
Number of Options Outstanding | 1,684 | |
Weighted Average Remaining Contractual Life | 3 years 10 months 15 days | |
Number of Exercisable Options | 1,071 | |
$9.00 - $14.50 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Exercise Price, Lower Limit | 9 | |
Exercise Price, Upper Limit | 14.5 | |
Number of Options Outstanding | 829 | |
Weighted Average Remaining Contractual Life | 4 years 7 months 10 days | |
Number of Exercisable Options | 490 |
STOCK_BASED_COMPENSATION_Stock
STOCK BASED COMPENSATION Stock Options Outstanding (Details) (USD $) | 3 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 4,064 | 7,509 | 4,668 | 7,537 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $6.18 | $5.62 | $6.14 | $5.53 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $12,594 | $17,674 | $19,358 | $17,494 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 589 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $7.20 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Total Intrinsic Value | 0 | |||
Exercised, Options | -578 | 497 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $6.15 | $5.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 1,927 | 1,069 | ||
Forfeited, Options | -25 | -119 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $10.28 | $10.30 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Total Intrinsic Value | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 3,113 | 5,988 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $5.51 | $4.87 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $11,819 | $17,513 |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
segments | |||
Segment Reporting Information [Line Items] | |||
Number of Reportable Segments | 5 | ||
Revenues | $63,770 | $60,690 | |
Depreciation | 2,203 | 2,821 | |
Amortization of intangible assets | 3,743 | 4,311 | |
Operating income (loss) | 9,160 | 7,876 | |
Interest expense | -808 | -893 | |
Other expense | -27 | -8 | |
Income before income taxes | 8,325 | 6,975 | |
Capital expenditures | 2,517 | 2,073 | |
Assets | 413,587 | 427,247 | |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 49,042 | 44,988 | |
Non- United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 14,728 | 15,702 | |
Tech & Clearance [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 33,324 | 31,834 | |
Depreciation | 1,588 | 1,569 | |
Amortization of intangible assets | 880 | 964 | |
Operating income (loss) | 11,169 | 10,959 | |
Capital expenditures | 1,301 | 1,290 | |
Assets | 185,410 | 185,558 | |
Finance Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 8,585 | 8,809 | |
Depreciation | 132 | 136 | |
Amortization of intangible assets | 19 | 19 | |
Operating income (loss) | 1,291 | 1,694 | |
Capital expenditures | 310 | 321 | |
Assets | 69,277 | 69,960 | |
Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 6,319 | 5,921 | |
Depreciation | 51 | 36 | |
Amortization of intangible assets | 1,746 | 775 | |
Operating income (loss) | -190 | 1,193 | |
Capital expenditures | 53 | 0 | |
Assets | 78,043 | 85,043 | |
Healthcare Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7,067 | 6,451 | |
Depreciation | 277 | 699 | |
Amortization of intangible assets | 464 | 1,820 | |
Operating income (loss) | -559 | -2,252 | |
Capital expenditures | 806 | 336 | |
Assets | 21,874 | 20,794 | |
Hospitality Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 4,011 | 2,931 | |
Depreciation | 45 | 59 | |
Amortization of intangible assets | 505 | 573 | |
Operating income (loss) | 1,176 | 230 | |
Capital expenditures | 16 | 4 | |
Assets | 30,519 | 33,777 | |
Corporate & Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 4,464 | 4,744 | |
Depreciation | 110 | 322 | |
Amortization of intangible assets | 129 | 160 | |
Operating income (loss) | -3,727 | -3,948 | |
Capital expenditures | 31 | 122 | |
Assets | $28,464 | $32,115 |
SEGMENT_INFORMATION_Carrying_A
SEGMENT INFORMATION (Carrying Amount of Goodwill) (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | $239,256 |
Foreign currency translation adjustment | -4,505 |
Goodwill, ending balance | 234,751 |
Tech & Clearance [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 95,946 |
Foreign currency translation adjustment | -418 |
Goodwill, ending balance | 95,528 |
Finance [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 53,473 |
Foreign currency translation adjustment | -2,026 |
Goodwill, ending balance | 51,447 |
Energy [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 50,187 |
Foreign currency translation adjustment | 0 |
Goodwill, ending balance | 50,187 |
Healthcare Segment [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 6,269 |
Foreign currency translation adjustment | 0 |
Goodwill, ending balance | 6,269 |
Hospitality Segment [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 15,871 |
Foreign currency translation adjustment | -1,274 |
Goodwill, ending balance | 14,597 |
Corporate & Other Segment [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 17,510 |
Foreign currency translation adjustment | -787 |
Goodwill, ending balance | $16,723 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Options to purchase shares | 1,862 | 3,100 |
Income from continuing operations- basic and diluted | $5,092 | $4,395 |
Weighted average shares outstanding-basic | 52,267 | 53,105 |
Shares issuable upon exercise of stock options | 2,025 | 2,271 |
Weighted average shares outstanding-diluted | 54,292 | 55,376 |
Basic earnings per share (in dollars per share) | $0.10 | $0.08 |
Diluted earnings per share (in dollars per share) | $0.09 | $0.08 |