DOCUMENT AND ENTITY INFORMATION
DOCUMENT AND ENTITY INFORMATION - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 26, 2019 | |
Entity Information [Line Items] | ||
Entity Registrant Name | DHI GROUP, INC. | |
Entity Central Index Key | 0001393883 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 55,036,008 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash | $ 4,694 | $ 6,472 |
Accounts receivable, net of allowance for doubtful accounts of $694 and $647 | 25,157 | 22,850 |
Income taxes receivable | 662 | 2,203 |
Prepaid and other current assets | 6,545 | 7,330 |
Total current assets | 37,058 | 38,855 |
Fixed assets, net | 16,646 | 15,890 |
Acquired intangible assets, net | 39,000 | 39,000 |
Capitalized contract costs | 7,259 | 7,939 |
Goodwill | 155,382 | 153,974 |
Deferred income taxes | 143 | 136 |
Operating lease right-of-use-assets | 17,533 | 0 |
Other assets | 2,555 | 2,591 |
Total assets | 275,576 | 258,385 |
Current liabilities | ||
Accounts payable and accrued expenses | 17,532 | 25,030 |
Operating lease liabilities - current | 3,926 | 0 |
Deferred revenue | 59,954 | 54,723 |
Income taxes payable | 1,128 | 1,168 |
Total current liabilities | 82,540 | 80,921 |
Long-term debt, net | 16,325 | 17,288 |
Deferred income taxes | 10,402 | 10,444 |
Deferred Revenue, Noncurrent | 1,058 | 1,363 |
Accrual for unrecognized tax benefits | 1,801 | 1,680 |
Operating lease liabilities - non-current | 14,250 | 0 |
Other long-term liabilities | 385 | 1,334 |
Total liabilities | 126,761 | 113,030 |
Commitments and contingencies (Note 11) | ||
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 69,535 and 87,522 shares, respectively; outstanding: 54,945 and 53,396 shares, respectively | 697 | 876 |
Additional paid-in capital | 222,981 | 383,123 |
Accumulated other comprehensive loss | (29,820) | (31,236) |
Accumulated earnings | 73,023 | 71,435 |
Treasury stock, 14,590 and 34,126 shares, respectively | (118,066) | (278,843) |
Total stockholders' equity | 148,815 | 145,355 |
Total liabilities and stockholders’ equity | $ 275,576 | $ 258,385 |
CONSOLIDATED BALANCE SHEETS (PA
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 20,000 | 20,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Current assets | ||
Allowance for doubtful accounts | $ 694 | $ 647 |
Stockholders equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 240,000 | 240,000 |
Common stock, shares issued | 69,535 | 87,522 |
Common stock, shares outstanding | 54,945 | 53,396 |
Treasury Stock, Shares | 14,590 | 34,126 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement [Abstract] | ||
Revenues | $ 37,120 | $ 43,071 |
Operating expenses: | ||
Cost of Revenue | 3,825 | 5,157 |
Product development | 4,196 | 5,463 |
Selling and Marketing Expense | 14,279 | 16,267 |
General and Administrative Expense | 7,928 | 10,382 |
Depreciation | 2,425 | 2,290 |
Amortization of intangible assets | 0 | 291 |
Disposition related and other costs (Note 13) | 875 | 1,011 |
Total operating expenses | 33,528 | 40,861 |
Loss on sale of business | 0 | 4,639 |
Operating Income (Loss) | 3,592 | 6,849 |
Interest expense | (105) | (546) |
Other expense | 0 | (9) |
Income before income taxes | 3,487 | 6,294 |
Income Tax Expense (Benefit) | 1,899 | 2,791 |
Net income | $ 1,588 | $ 3,503 |
Basic earnings (loss) per share (in dollars per share) | $ 0.03 | $ 0.07 |
Diluted earnings (loss) per share (in dollars per share) | $ 0.03 | $ 0.07 |
Weighted average basic shares outstanding | 48,103 | 48,258 |
Weighted average diluted shares outstanding | 50,330 | 48,974 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 1,588 | $ 3,503 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation | 2,425 | 2,290 |
Amortization of intangible assets | 0 | 291 |
Deferred income taxes | (55) | 82 |
Amortization of deferred financing costs | 37 | 49 |
Stock based compensation | 1,458 | 2,509 |
Change in accrual for unrecognized tax benefits | 121 | 220 |
Loss on sale of business | 0 | (4,639) |
Changes in operating assets and liabilities, net of the effects of acquisitions: | ||
Accounts receivable | (2,209) | 10,956 |
Prepaid expense and other assets | 376 | 1,070 |
Capitalized contract costs | 708 | (1,398) |
Accounts payable and accrued expenses | (7,619) | (6,007) |
Income taxes receivable/payable | 1,496 | 1,676 |
Deferred revenue | 4,785 | (3,745) |
Other, net | 127 | 61 |
Net cash flows from operating activities | 3,238 | 6,918 |
Cash flows from (used in) investing activities: | ||
Cash received from sale of business | 0 | 3,520 |
Purchases of fixed assets | (3,052) | (1,825) |
Net cash flows from (used in) investing activities | (3,052) | 1,695 |
Cash flows from financing activities: | ||
Payments on long-term debt | (15,000) | (6,000) |
Proceeds from long-term debt | 14,000 | 2,000 |
Payments under stock repurchase plan | (491) | 0 |
Purchase of treasury stock related to vested restricted stock | (532) | (325) |
Net cash flows used in financing activities | (2,023) | (4,325) |
Effect of exchange rate changes | 59 | (149) |
Net change in cash and cash equivalents for the period | (1,778) | 4,139 |
Cash, beginning of period | 6,472 | 12,068 |
Cash, end of period | $ 4,694 | $ 16,207 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) Statement - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 1,588 | $ 3,503 |
Foreign currency translation adjustment | 1,416 | 2,322 |
Total other comprehensive income | 1,416 | 2,322 |
Comprehensive income | $ 3,004 | $ 5,825 |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY Statement - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Earnings (Loss) [Member] | Accumulated Other Comprehensive Loss [Member] |
Treasury Stock, Shares | 32,645,000 | |||||
Beginning balance (in shares) at Dec. 31, 2017 | 83,125,000 | |||||
Beginning balance at Dec. 31, 2017 | $ 132,641 | $ 831 | $ 375,537 | $ (276,173) | $ 59,776 | $ (27,330) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 3,503 | 3,503 | ||||
Other comprehensive income (loss) | 2,322 | 2,322 | ||||
Stock based compensation | 2,510 | 2,510 | ||||
Restricted stock issued (in shares) | 1,507,000 | |||||
Restricted stock issued | 16 | $ 16 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations (in shares) | (91,000) | 188,000 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations | $ (326) | $ (1) | $ (325) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 117,500 | |||||
Cumulative-effect of new accounting principle | $ 4,485 | 4,485 | ||||
Ending balance (in shares) at Mar. 31, 2018 | 84,541,000 | |||||
Ending balance at Mar. 31, 2018 | $ 145,151 | $ 846 | 378,047 | $ (276,498) | 67,764 | (25,008) |
Treasury Stock, Shares | 32,833,000 | |||||
Treasury Stock, Shares | 34,126,000 | 34,126,000 | ||||
Beginning balance (in shares) at Dec. 31, 2018 | 53,396,000 | 87,522,000 | ||||
Beginning balance at Dec. 31, 2018 | $ 145,355 | $ 876 | 383,123 | $ (278,843) | 71,435 | (31,236) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,588 | 1,588 | ||||
Other comprehensive income (loss) | 1,416 | 1,416 | ||||
Stock based compensation | 1,458 | 1,458 | ||||
Restricted stock issued (in shares) | 1,456,000 | |||||
Restricted stock issued | 15 | $ 15 | ||||
Restricted stock forfeited or withheld to satisfy tax obligations (in shares) | (113,000) | 214,000 | ||||
Stock Granted, Value, Share-based Compensation, Forfeited | $ 0 | $ 0 | ||||
Treasury Stock, Shares, Retired | 20,000,000 | (20,000,000) | (20,000,000) | |||
Treasury Stock, Retired, Cost Method, Amount | $ 0 | $ (200) | (161,600) | $ 161,800 | ||
Stock Repurchased During Period, Shares | (250,000) | |||||
Restricted stock forfeited or withheld to satisfy tax obligations | (533) | $ (1) | $ (532) | |||
Performance-Based Restricted Stock Units eligible to vest (in shares) | 680,000 | |||||
Performance-Based Restricted Stock Units eligible to vest | $ 7 | $ 7 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 94,000 | 10,000 | ||||
Purchase of treasury stock under stock repurchase plan | $ (491) | (491) | ||||
Ending balance (in shares) at Mar. 31, 2019 | 54,945,000 | 69,535,000 | ||||
Ending balance at Mar. 31, 2019 | $ 148,815 | $ 697 | $ 222,981 | $ (118,066) | $ 73,023 | $ (29,820) |
Treasury Stock, Shares | 14,590,000 | 14,590,000 |
ORGANIZATION AND PRINCIPAL ACTI
ORGANIZATION AND PRINCIPAL ACTIVITIES (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of DHI Group, Inc. (“DHI” or the “Company”) 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, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the “Annual Report on Form 10-K”). Operating results for the three month period ended March 31, 2019 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, 2019 . |
SIGNIFCANT ACCOUNTING POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NEW ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09 (“Topic 606”), Revenue from Contracts with Customers . Topic 606 supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, Revenue Recognition , and requires entities to measure and recognize revenue and the related cash flows it expects to be entitled for the transfer of promised goods or services to customers and requires an entity to recognize the incremental costs of obtaining a contract with a customer as an asset if the entity expects to recover those costs over time. Topic 606 became effective for reporting periods beginning after December 15, 2017. Topic 606 provides companies with two implementation methods. Companies can choose to apply the standard retrospectively to each prior reporting period presented (full retrospective application) or retrospectively with the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings of the annual reporting period that include the date of initial application (modified retrospective application). The Company has chosen the modified retrospective application method and has implemented Topic 606 effective January 1, 2018. The Company has determined that the January 1, 2018 cumulative effect to its revenue streams was an increase of approximately $0.2 million to deferred revenues, and the cumulative effect to its contract acquisition costs was an increase to contract acquisition cost assets of approximately $6.1 million , with a net after tax increase to retained earnings of approximately $4.5 million . The cumulative impact on contract acquisition costs was computed based on contracts in force as of December 31, 2017 using average commission rates on both new business sales to be amortized over approximately two years and the remaining sales contracts to be amortized over approximately one year. See Note 3 to the Notes to the Condensed Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard has requirements on how to account for leases by both the lessee and the lessor and adds clarification for what constitutes a lease, among other items. The updated standard became effective for fiscal years beginning after December 15, 2018 and interim periods the following year. The new standard must be applied using a modified retrospective transition. In July 2018, the FASB issued updated guidance which allows an additional transition method to adopt the new standard at the adoption date, as compared to the beginning of the earliest period presented, and recognize a cumulative-effect adjustment to the beginning balance of retained earnings in the period of adoption. DHI has implemented the new standard effective January 1, 2019, under the modified retrospective method with the available practical expedients. Adoption of this standard has resulted in a right-of-use asset of $17.2 million , net of accrued rent and lease exit costs, and related operating lease liability of $18.0 million being established on the Company's balance sheet as of January 1, 2019, with no cumulative-effect adjustments to retained earnings. Right-of-Use ("ROU") assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the obligation to make payments arising from the lease. The Company has implemented processes and tools to assist in the ongoing lease data collection and analysis, and has updated accounting policies and internal controls as a result of adopting this standard. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . ASU 2016-13 changes how entities will account for credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance replaces the current "incurred loss" model with an "expected loss" model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of a financial asset. ASU 2016-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. The Company is evaluating the expected impact of this standard on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . The new standard requires entities that are customers in cloud computing arrangements to defer implementation costs if they would be capitalized by the entity in software licensing arrangements under the internal-use software guidance. ASU No. 2018-15 is effective for fiscal years beginning after December 15, 2019 and interim periods within those years and early adoption is permitted. The amendments allow either a retrospective or prospective approach to all implementation costs incurred after adoption. The Company is evaluating the expected impact of this standard on its consolidated financial statements. |
Revenue Recognition (Notes)
Revenue Recognition (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | REVENUE RECOGNITION On January 1, 2018, the Company adopted Topic 606 applying the modified retrospective method to all contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts were not adjusted and will continue to be reported under the accounting standards in effect for the period presented. We recorded a net increase to opening retained earnings of $4.5 million as of January 1, 2018 due to the cumulative impact of adopting Topic 606. The Company recognizes revenue when control of the promised goods or services is transferred to our customers at an amount that reflects the consideration to which we expect to receive in exchange for those goods or services. Revenue is recognized net of customer discounts ratably over the service period. Customer billings delivered in advance of services being rendered are recorded as deferred revenue and recognized over the service period. The Company generates revenue from recruitment packages, advertising, classifieds, data services, and career fair and recruitment event booth rentals. Disaggregation of revenue Our brands serve various economic professions, such as technology, financial, hospitality (the Hcareers business was sold on May 22, 2018), and energy (sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018). The following table provides information about disaggregated revenue by brand and includes a reconciliation of the disaggregated revenue with reportable segments (in thousands): Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Tech-Focused Other Total Tech-Focused Other Total Dice $ 23,146 $ — $ 23,146 $ 23,282 $ — $ 23,282 ClearanceJobs 5,782 — 5,782 4,804 — 4,804 eFinancial Careers 8,192 — 8,192 8,563 — 8,563 Dice Europe (1) — — — 1,292 — 1,292 Hcareers (2) — — — — 3,393 3,393 Rigzone (2) — — — — 1,525 1,525 BioSpace (2) — — — — 212 212 Total $ 37,120 $ — $ 37,120 $ 37,941 $ 5,130 $ 43,071 (1) The Company ceased Dice Europe operations on August 31, 2018. (2) The Company sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018. Hcareers was sold on May 22, 2018 and the Company transferred majority ownership of BioSpace to BioSpace management on January 31, 2018. Contract Balances The following table provides information about opening and closing balances of receivables and contract liabilities from contracts with customers as required under Topic 606 (in thousands): As of March 31, 2019 As of December 31, 2018 Receivables $ 25,157 $ 22,850 Short-term contract liabilities (deferred revenue) 59,954 54,723 Long-term contract liabilities (deferred revenue) 1,058 1,363 We receive payments from customers based upon contractual billing schedules; accounts receivable is recorded when customers are invoiced per the contractual billings schedules. As the Company's standard payment terms are less than one year, the Company elected the practical expedient, where applicable. As a result, the Company did not consider the effects of a significant financing component. Contract liabilities include customer billings delivered in advance of performance under the contract, and associated revenue is realized when services are rendered under the contract. Receivables increase due to customer billings and decrease by cash collected from customers along with business divestitures. Included in January 1, 2018 is $ 4.4 million of receivables related to businesses divested during the year ended December 31, 2018. Contract liabilities increase due to customer billings and are decreased as performance obligations are satisfied under the contracts. Included in January 1, 2018 is $ 8.4 million of short-term contract liabilities related to the businesses divested during the year ended December 31, 2018. During the three months ended March 31, 2019 and 2018, the Company recognized the following revenues as a result of changes in the contract liability balances in the respective periods (in thousands): Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period $ 24,933 $ 31,984 Transaction price allocated to the remaining performance obligations Under the guidance of Topic 606, the following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands): Remainder of 2019 2020 2021 Total Tech-focused $ 56,424 $ 4,529 $ 59 $ 61,012 |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2019 | |
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, accounts receivable, other assets, accounts payable and accrued expenses and long-term debt approximate their fair values. The fair value of the long-term debt was estimated using present value techniques and market based interest rates and credit spreads. The estimated fair value of long-term debt is based on Level 2 inputs. Certain assets and liabilities are measured at fair value on a non-recurring basis. These assets include investments (included in other assets), goodwill and intangible assets which result as acquisitions occur. Items valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. Such instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, for example, when there is evidence of impairment. |
ACQUIRED INTANGIBLE ASSETS, NET
ACQUIRED INTANGIBLE ASSETS, NET | 3 Months Ended |
Mar. 31, 2019 | |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | |
Acquired Intangible Assets, Net | ACQUIRED INTANGIBLE ASSETS, NET As a result of the sale of Hcareers (sold May 22, 2018), the Company disposed of all its remaining unamortized acquired intangible assets. Acquired intangible assets disposed of in conjunction with the sale had costs of $12.9 million and accumulated amortization of $6.7 million . Therefore, as of March 31, 2019 and December 31, 2018, the net value of all finite-lived acquired intangible assets was zero. As of March 31, 2019 and December 31, 2018, the Company had an indefinite-lived acquired intangible asset of $39.0 million related to the Dice trademark and brand name. The Company evaluates whether the carrying value of recorded indefinite-lived acquired intangible assets is impaired on an annual basis or more frequently if indicators of potential impairment exist. No impairment has been recorded during the three month periods ended March 31, 2019 and 2018. The impairment review process compares the fair value of the indefinite-lived acquired intangible assets to its carrying value. If the carrying value exceeds the fair value, an impairment loss is recorded. The impairment test performed as of October 1, 2018 and 2017 resulted in the fair value of the Dice trademark and brand name exceeding the carrying value by 2% and 4%, respectively. Revenue attributable to the Dice trademarks and brand name declined during the year ended December 31, 2018 due to competition in the technology recruiting market, challenges in developing and introducing new products and product enhancements to the market and the Company’s ability to attribute value delivered to customers. Revenues related to the Dice trademarks and brand name declined, excluding the Dice Europe (which ceased operations on August 31, 2018) 7% and 10% for the years ended December 31, 2018 and 2017, respectively, and declined 1% and 10% for the three months ended March 31, 2019 and 2018, respectively. The rate of revenue decline narrowed throughout 2018 and into the first quarter of 2019. Revenue projections for the year ended December 31, 2019 and beyond include an increase compared to the year ended December 31, 2018. The Company’s ability to achieve these revenue projections may be impacted by, among other things, the factors noted above that have contributed to the decline in recent periods. Cash flows attributable to the Dice trademarks and brand name declined during 2018 as a result of the lower revenue, as well as increased spending focused on new and enhanced products and consulting fees related to expense reduction strategies and changes in invoicing terms. Operating expenses, excluding amortization expense, impairment charges and disposition related and other costs, are projected to slightly decline for the year ended December 31, 2019 as compared to the year ended December 31, 2018 and then increase at levels that allow for modest operating margin improvements. Operating margins since the October 1, 2018 testing date are in line with the margins used in the projections. If future cash flows attributable to the Dice trademark are not achieved, the Company could realize an impairment in a future period. The Company utilized a relief from royalty rate method to value the Dice trademarks and brand name using a royalty rate of 6.0% based on comparable industry studies and improving operating margins and a discount rate of 15.3%. The determination of whether or not indefinite-lived acquired intangible assets have become impaired involves a significant level of judgment in the assumptions underlying the approach used to determine the value of the indefinite-lived acquired intangible assets. Fair values are determined using a profit allocation methodology which estimates the value of the trademark and brand name by capitalizing the profits saved because the company owns the asset. We consider factors such as historical performance, anticipated market conditions, operating expense trends and capital expenditure requirements. Changes in our strategy and/or market conditions could significantly impact these judgments and require adjustments to recorded amounts of intangible assets. If projections are not achieved, the Company could realize an impairment in a future period. |
INDEBTEDNESS
INDEBTEDNESS | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Indebtedness | INDEBTEDNESS Credit Agreement —In November 2018, the Company, together with Dice, Inc. (a wholly-owned subsidiary of the Company) and its wholly-owned subsidiary, Dice Career Solutions, Inc. (collectively, the “Borrowers”), entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”), which matures in November 2023, and replaced the previously existing credit agreement dated November 2015. The Credit Agreement provides for a revolving loan facility of $90 million (previously $150 million ), with an expansion option up to $140 million , as permitted in the Credit Agreement. The Company borrowed $18 million to repay, in full, all outstanding indebtedness, including accrued interest, under the previous credit agreement and to pay certain costs associated with the Credit Agreement. Unamortized debt issuance costs of $0.2 million were recorded to interest expense at the time of reduction. 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 Company incurs a fee, 0.30% and 0.35% at March 31, 2019 and 2018, respectively, on any unused capacity under the revolving loan facility. The facility may be prepaid at any time without penalty. 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. Borrowings 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 2.50 to 1.00 . Negative covenants include restrictions on incurring certain liens; making certain payments, such as stock repurchases and dividend payments; making certain investments; making certain acquisitions; making certain dispositions; 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 2.00 to 1.00 , 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, 2019 , the Company was in compliance with all of the financial covenants under the Credit Agreement. The obligations under the Credit Agreement are guaranteed by two of the Company’s wholly-owned subsidiaries, eFinancialCareers, Inc. and Targeted Job Fairs, 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. The amounts borrowed as of March 31, 2019 and December 31, 2018 are as follows (dollars in thousands): March 31, December 31, Amounts borrowed: Revolving credit facility $ 17,000 $ 18,000 Less: deferred financing costs, net of accumulated amortization of $61 and $25 (675 ) (712 ) Total borrowed $ 16,325 $ 17,288 Available to be borrowed under revolving facility, subject to certain limitations $ 73,000 $ 72,000 Interest rates: LIBOR rate loans: Interest margin 1.75 % 1.75 % Actual interest rates 4.25 % 4.25 % There are no scheduled payments until maturity of the Credit Agreement in November 2023. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | . COMMITMENTS AND CONTINGENCIES 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, except as described below and recorded in the condensed consolidated financial statements, 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. During the first quarter of 2018, the Company recorded a $1.0 million liability related to a class action lawsuit regarding the applicability of provisions of the Fair Credit Reporting Act (the "FCRA") to one of our products. The recorded liability reflects a tentative settlement, which upon final approval by the court, will resolve all remaining claims subject to the lawsuit. The lawsuit was brought by Ian Douglas, individually, as a representative of the class and on behalf of the general public, against DHI Group, Inc. and Dice Inc. asserting six claims under the FCRA that the Company’s Open Web profiles are “consumer reports” and Dice is a “consumer reporting agency” under the FCRA, including claims pursuant to the private right of action in 15 U.S.C. Section 1681n for alleged willful violations of the FCRA. The action was originally filed in a federal district court on July 26, 2017, but as a part of the settlement process, the action has been re-filed and is pending in the Superior Court of Santa Clara County, California (Case No. 18CV331732). The court has given preliminary approval of the settlement, and has directed that notice be given to the class. A hearing on final approval of the settlement for August 2019. Tax Contingencies The Company operates in a number of tax jurisdictions and is routinely subject to examinations by various tax authorities with respect to income taxes and indirect taxes. The determination of the Company’s worldwide provision for taxes requires judgment and estimation. The Company has reserved for potential examination adjustments to our provision for income taxes and accrual of indirect taxes in amounts which the Company believes are reasonable. |
EQUITY TRANSACTIONS (Notes)
EQUITY TRANSACTIONS (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Equity, Class of Treasury Stock [Line Items] | |
Stockholders' Equity Note Disclosure [Text Block] | EQUITY TRANSACTIONS Stock Repurchase Plans —In May 2018, the Board of Directors authorized a stock repurchase program (the "Stock Repurchase Plan") that permits the purchase of up to $7 million of the Company's common stock through May 2019. Under the plan, management has discretion in determining the conditions under which shares may be purchased from time to time. During the quarter ended March 31, 2019 , purchases of the Company's common stock pursuant to the Stock Repurchase Plan were as follows: Total Number of Shares Purchased [1] Average Price Paid per Share [2] Approximate Dollar Value of Shares Purchased Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 250,145 $1.96 $491,286 $4,504,395 [1] No shares of our common stock were purchased other than through a publicly announced plan or program. [2] Average price paid per share includes costs associated with the repurchases. There were no unsettled share repurchases as of March 31, 2019 and 26,337 unsettled share repurchases as of December 31, 2018. In April 2019, the Board of Directors authorized the purchase of up to $7 million of the Company's common stock through May 2020. Under the plan, management has discretion in determining the conditions under which shares may be purchased from time to time. The Company's Board of Directors approved the retirement of 20 million shares of Treasury Stock during the three months ended March 31, 2019 and, as a result, the Company reduced Additional Paid in Capital $161.6 million and Common Stock $0.2 million during the three months ended March 31, 2019. The value of treasury stock retired was computed based on the average repurchase price of all treasury shares as of March 31, 2019, which was $8.09 per share. Unclaimed Shareholder Liability - Prior to the third quarter of 2018, other long-term liabilities included $1.0 million due to former shareholders of the Company under a Joint Plan of Reorganization that was agreed to by the Company and two of its creditors, and confirmed by the U.S. Bankruptcy Court of the Southern District Court of New York on June 24, 2003. During the three-month period ending September 30, 2018, the Company concluded the amounts owed were no longer due and payable and further, the amounts owed represent additional equity of the Company. Accordingly, the Company reclassified $1.0 million from other long-term liabilities to additional paid-in capital during the quarter. |
DISPOSITION RELATED AND OTHER C
DISPOSITION RELATED AND OTHER COSTS (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Activities Disclosure [Text Block] | DISPOSITION RELATED AND OTHER COSTS In May 2017, the Company announced plans to divest a number of its non-tech businesses to achieve greater focus and resource allocation toward its core tech-focused business. The planned divestitures include: Health eCareers (sold December 4, 2017), BioSpace (transferred majority ownership to BioSpace management on January 31, 2018), Hcareers (sold May 22, 2018), and Rigzone (sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018). Additionally, the Company ceased the Dice Europe operations on August 31, 2018 and and vacated certain offices during 2018. In connection with the planned divestitures and focus on the tech business, the Company incurred certain severance, reorganization, and other related costs to further these strategic objectives. The following table displays a roll forward of the disposition related and other costs and related liability balances (in thousands): Three Months Ended March 31, 2019 Accrual at December 31, 2018 Expense Cash Payments Accrual at March 31, 2019 Severance and retention $ 1,089 $ 763 $ (1,125 ) $ 727 Professional fees and other costs 1,271 112 (179 ) 1,204 Lease exit and related asset impairment costs 947 — (305 ) 642 Total disposition related and other costs $ 3,307 $ 875 $ (1,609 ) $ 2,573 Three Months Ended March 31, 2018 Accrual at December 31, 2017 Expense Cash Payments Accrual at March 31, 2018 Severance and retention $ 1,237 $ 602 $ (987 ) $ 852 Professional fees and other costs 825 409 (581 ) 653 Total disposition related and other costs $ 2,062 $ 1,011 $ (1,568 ) $ 1,505 |
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION | 3 Months Ended |
Mar. 31, 2019 | |
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. The Company recorded total stock based compensation expense of $1.5 million and $2.5 million during the three month periods ended March 31, 2019 and 2018, respectively. At March 31, 2019 , there was $11.9 million of unrecognized compensation expense related to unvested awards, which is expected to be recognized over a weighted-average period of approximately 1.7 years. In connection with the employment agreement for the Company's new Chief Executive Officer, the Company granted, as Inducement Grants Under NYSE Rule 303A.08, 1,750,000 restricted stock units during the second quarter of 2018 and 750,000 performance based restricted stock units during the fourth quarter of 2018 to the Company's new Chief Executive Officer. 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 as described below. There was no cash flow impact resulting from the grants. The restricted stock vests in various increments either quarterly or on the anniversaries of each grant, subject to the recipient’s continued employment or service through each applicable vesting date. Vesting occurs over one year for Board members and over two to four years for employees. A summary of the status of restricted stock awards as of March 31, 2019 and 2018 and the changes during the periods then ended is presented below: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 4,518,932 $ 2.32 2,393,257 $ 5.48 Granted 1,455,500 $ 2.39 1,506,500 $ 1.65 Forfeited (113,250 ) $ 3.55 (90,625 ) $ 5.32 Vested (614,604 ) $ 3.88 (605,625 ) $ 6.98 Non-vested at end of period 5,246,578 $ 2.13 3,203,507 $ 3.40 PSUs —PSUs are granted to employees of the Company and its subsidiaries. These shares are granted under two compensation agreements that are for services provided by the employees. Under the first agreement, with grants during the years ended December 31, 2016 and 2017, the fair value of PSUs are measured using the Monte Carlo pricing model. The expense related to these PSUs are recorded over the vesting period. 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 the total grant divided by three. For performance period three, vesting is no less than zero and no greater than 150% of the initial grant less shares vested in performance periods one and two. As of March 31, 2019, there were 252,500 unvested shares related to the first agreement. Under the second agreement, the fair value of the PSUs are measured at the grant date fair value of the award, which was determined based on an analysis of the probable performance outcomes. The performance period is over one year and is based on the achievement of bookings targets during the year ended December 31, 2019, as defined in the agreement. The earned shares will then vest over a three year period, one-third on each of the first, second, and third anniversaries of the grant date, or if later, the date the Compensation Committee certifies the performance results with respect to the performance period. As of March 31, 2019, there were 1,420,000 unvested shares related to the second agreement. There was no cash flow impact resulting from the grants. A summary of the status of PSUs as of March 31, 2019 and 2018 and the changes during the periods then ended is presented below: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 1,255,000 $ 3.45 760,003 $ 6.92 Granted 680,000 $ 2.35 — $ — Forfeited (262,500 ) $ 6.91 (255,003 ) $ 8.27 Non-vested at end of period 1,672,500 $ 2.46 505,000 $ 6.24 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 stock options vest 25% after one year, beginning on the first anniversary date of the grant, and 6.25% each quarter following the first anniversary. There was no cash flow impact resulting from the grants. No stock options were granted during the three months ended March 31, 2019 and 2018 . A summary of the status of options previously granted as of March 31, 2019 and 2018 , and the changes during the periods then ended, is presented below: Three Months Ended March 31, 2019 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at beginning of the period 327,000 $ 8.35 $ — Forfeited (94,000 ) $ 8.77 $ — Options outstanding at end of period 233,000 $ 8.19 $ — Exercisable at end of period 233,000 $ 8.19 $ — Three Months Ended March 31, 2018 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at beginning of the period 1,101,875 $ 9.28 $ — Forfeited (117,500 ) $ 14.34 $ — Options outstanding at end of period 984,375 $ 8.67 $ — Exercisable at end of period 979,155 $ 8.68 $ — The weighted-average remaining contractual term of options exercisable at March 31, 2019 is 1.6 years. The following table summarizes information about options outstanding as of March 31, 2019 : Exercise Price Options Outstanding and Exercisable Weighted- Average Remaining Contractual Life (in years) $ 7.00 - $ 7.99 140,000 1.9 $ 8.00 - $ 8.99 23,000 2.3 $ 9.00 - $ 9.99 70,000 0.9 233,000 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 3 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION The Company modified its Tech-focused reportable segment in the first quarter of 2019 to reflect the current Tech-focused operating structure. The change comes as a result of the non-tech businesses being divested during 2018 and, as a result, corporate related costs are now reflected as part of the Tech-focused segment. Accordingly, all prior periods have been recast to reflect the current segment presentation. The Company has one reportable segment, Tech-focused, which includes the Dice, Dice Europe (ceased operations on August 31, 2018), ClearanceJobs, eFinancialCareers services, and corporate related costs (formerly included in Corporate & Other). Management has organized its reportable segment based upon our internal management reporting. Prior to 2019, the Company had other services and activities that individually were not significant in relation to consolidated revenues, operating income or total assets. These include Hcareers (sold May 22, 2018), Rigzone (sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018) , and Biospace (majority ownership transferred to BioSpace management on January 31, 2018) , which are recorded in the "Other" category. The Company’s foreign operations are comprised of the Dice Europe (ceased operations on August 31, 2018) operations and a portion of the eFinancialCareers and Rigzone services (sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018), 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 (sold May 22, 2018), which operated in Canada. Revenue by geographic region, as shown in the table below, is based on the location of each of the Company’s subsidiaries. The following table shows the segment information (in thousands and recast for the change in reportable segments): Three Months Ended March 31, 2019 2018 By Segment: Revenues: Tech-focused $ 37,120 $ 37,941 Other — 5,130 Total revenues $ 37,120 $ 43,071 Depreciation: Tech-focused $ 2,425 $ 2,157 Other — 133 Total depreciation $ 2,425 $ 2,290 Amortization: Tech-focused $ — $ — Other — 291 Total amortization $ — $ 291 Operating income: Tech-focused $ 3,592 $ 1,656 Other — 5,193 Operating income 3,592 6,849 Interest expense and other (105 ) (546 ) Other expense — (9 ) Income before income taxes $ 3,487 $ 6,294 Capital expenditures: Tech-focused $ 3,052 $ 1,781 Other — 133 Total capital expenditures $ 3,052 $ 1,914 Three Months Ended March 31, 2019 2018 By Geography: Revenues: United States $ 29,619 $ 30,005 United Kingdom 4,709 4,622 EMEA, APAC and Canada (1) 2,792 8,444 Non-United States 7,501 13,066 Total revenues $ 37,120 $ 43,071 (1) Europe (excluding United Kingdom), the Middle East and Africa (“EMEA”) and Asia-Pacific (“APAC”) The Company's total assets as of March 31, 2019 and December 31, 2018 are entirely Tech-focused due to the non-tech businesses being divested during 2018. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Mar. 31, 2019 | |
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. Stock-based awards of approximately 1.3 million and 2.7 million shares were outstanding during the three month periods ended March 31, 2019 and 2018, respectively, but were excluded from the calculation of diluted EPS for the periods then ended because the effect of the awards is anti-dilutive. 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, 2019 2018 Net income (loss) $ 1,588 $ 3,503 Weighted-average shares outstanding—basic 48,103 48,258 Add shares issuable from stock-based awards 2,227 716 Weighted-average shares outstanding—diluted 50,330 48,974 Basic earnings per share $ 0.03 $ 0.07 Diluted earnings per share $ 0.03 $ 0.07 |
INVESTMENTS (Notes)
INVESTMENTS (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Investments [Abstract] | |
Investments and Other Noncurrent Assets [Text Block] | INVESTMENTS At December 31, 2017, the Company held preferred stock representing a 10.0% interest in the fully diluted shares of a leading tech skills assessment company. During 2018, the skills assessment company completed an additional equity offering, lowering DHI's total interest to 7.6% . The Company did not adjust the recorded value of the investment because the shares issued under the new share offering were not similar to the Company's share rights. As of March 31, 2019, it was not practicable to estimate the fair value of the preferred stock as the shares are not traded. The investment is carried at its original cost of $2.0 million , which is included in the other assets section of the Condensed Consolidated Balance Sheets. On January 31, 2018, the Company transferred a majority ownership of the BioSpace business to BioSpace management with zero proceeds received from the transfer. The Company retained a 20% preferred share interest in the BioSpace business. The fair value of the investment was estimated to be zero at the time of the transfer. As of March 31, 2019, it was not practicable to estimate the fair value of the preferred stock investment as the shares are not traded. The investment is recorded at cost, which is zero. Upon a liquidation, sale or change in control of BioSpace within five years of January 31, 2018, the Company has the right to the first $1.0 million of proceeds or the option to convert its 20% preferred stock interest to a 20% common stock interest. On January 31, 2023, the 20% preferred share interest will convert to a 20% common share interest. Rigzone is a website dedicated to delivering online content, data, and career services in the oil and gas industry in North America, Europe, the Middle East, and Asia Pacific. Oil and gas companies, as well as companies that serve the energy industry, use Rigzone to find talent for roles such as petroleum engineers, sales professionals with energy industry expertise and skilled tradesmen. On August 31, 2018, the Company transferred a majority ownership of the Rigzone business to Rigzone management, while retaining a 40% common share interest, with zero proceeds received from the transfer. The Company has evaluated the 40% common share interest in the Rigzone business and has determined the investment meets the definition and criteria of a variable interest entity ("VIE"). The Company evaluated the VIE and determined that the Company does not have a controlling financial interest in the VIE, as the Company does not have the power to direct the activities of the VIE that most significantly impact the VIE's economic performance. The common share interest is being accounted for under the equity method of accounting as the Company has the ability to exercise significant influence over Rigzone. As accumulated earnings of the VIE have been approximately zero since the date of transfer, the investment is recorded at zero at March 31, 2019. |
SALE OF BUSINESS (Notes)
SALE OF BUSINESS (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4. SALE OF BUSINESSES The Company transferred a majority ownership of the Rigzone business to Rigzone management on August 31, 2018. The Company retained a 40% common share interest in Rigzone. The Company incurred approximately $0.4 million in selling costs and recognized a $0.4 million loss on sale in the third quarter of 2018. The Company sold the Hcareers business on May 22, 2018 for $16.5 million and incurred approximately $1.5 million in selling costs, with $1.7 million of the purchase price placed in escrow (recorded in prepaid and other current assets), to be released twelve months after the closing date, subject to the terms and conditions of the transaction agreement , including certain contingencies. Additionally, the Company recorded a receivable of $0.2 million (recorded in prepaid and other current assets) related to working capital, subject to the terms and conditions of the transaction agreement. As of March 31, 2019, working capital had not been finalized. Net cash proceeds of $ 14.0 million were received on the date of sale of Hcareers. As a result of the sale, a $0.8 million loss was recognized in the second quarter of 2018. The Company sold the RigLogix portion of the Rigzone business on February 20, 2018 for $4.2 million and incurred approximately $0.6 million in selling costs. $0.4 million of the purchase price was placed in escrow, which was released to the Company in the first quarter of 2019. As a result of the sale, a $ 4.6 million gain was recognized in the first quarter of 2018. The gain on sale exceeded net proceeds as liabilities transferred in the transaction exceeded assets, primarily due to deferred revenues of $1.2 million . The Company transferred a majority ownership of the BioSpace business to BioSpace management on January 31, 2018. The Company retained a preferred share interest in BioSpace, Inc., representing a 20% diluted interest. The Company incurred approximately $0.3 million in selling costs and recognized a $0.5 million loss on sale during the year ended December 31, 2018. |
INCOME TAXES (Notes)
INCOME TAXES (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Contingency [Line Items] | |
Income Tax Disclosure [Text Block] | 17. INCOME TAXES The Company’s effective tax rate was 54.5% and 44.3% for the three months ended March 31, 2019 and 2018, respectively. The following items caused the effective tax rate to differ from the U.S. statutory rate: • Tax deficiency of $0.7 million and $1.3 million during the three months ended March 31, 2019 and 2018, respectively, related to the vesting or settlement of share-based compensation awards. • Tax expense of $0.4 million during the three months ended March 31, 2019 related to the transition tax on the deemed repatriation of foreign earnings and based on additional regulatory guidance published by the U.S. tax authorities in February 2019. |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
LEASES | LEASES On January 1, 2019, the Company adopted ASU No. 2016-02, Leases (Topic 842) , applying the modified retrospective transition. Periods beginning after January 1, 2019 will be presented under Topic 842, while prior period amounts will not be adjusted and continue to be reported under the accounting standards in effect prior to January 1, 2019. We have operating leases for corporate office space and certain equipment. Our leases have terms from one year to eight years , some of which include options to renew the lease, and are included in the lease term when it is reasonably certain that the Company will exercise the option. No leases include options to purchase the leased property. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We do not have any lease agreements with related parties. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, the Company recorded operating ROU assets of approximately $17.2 million and operating lease liabilities of $18.0 million as of January 1, 2019. Operating ROU assets and liabilities commencing after January 1, 2019 are recognized at commencement date based on the present value of lease payments over the lease term. When readily available, the Company uses the implicit rate in determining the present value of the lease payments. When leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on information available at the commencement of the lease, including the lease term. Because the implicit rate in each lease is not available, the Company used its incremental borrowing rate to determine the present value of lease payments. Leases with an initial term of 12 months or less are not recorded on the balance sheet. All operating lease expense is recognized on a straight-line basis over the lease term. The components of lease cost were as follows (in thousands): Three Months Ended March 31, 2019 Operating lease cost * $ 1,123 Sublease income (327 ) Total lease cost $ 796 * Includes short-term lease costs and variable lease costs, which are immaterial. Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,106 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 953 Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount): Three Months Ended March 31, 2019 Operating lease right-of-use-assets $ 17,533 Operating lease liabilities - current 3,926 Operating lease liabilities - non-current 14,250 Total operating lease liabilities $ 18,176 Weighted Average Remaining Lease Term (in years) Operating leases 5.67 Weighted Average Discount Rate Operating leases 4.32 % As of March 31, 2019, future lease operating payments were as follows (in thousands): Operating Leases April 1, 2019 through December 31, 2019 $ 3,481 2020 4,136 2021 3,500 2022 2,690 2023 2,446 2024 and Thereafter 4,343 Total lease payments $ 20,596 Less imputed interest 2,420 Total $ 18,176 As of March 31, 2019, the Company has no additional operating or finance leases that have not yet commenced. Future minimum lease commitments as of December 31, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows (in thousands): Operating Leases 2019 $ 4,244 2020 3,710 2021 3,097 2022 2,540 2023 2,300 2024 and thereafter 4,524 Total minimum payments $ 20,415 |
GOODWILL (Notes)
GOODWILL (Notes) | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill Disclosure [Text Block] | 9. GOODWILL The following table shows the carrying amount of goodwill as of December 31, 2018 and March 31, 2019 and the changes in goodwill for the three month period ended March 31, 2019 (in thousands): Goodwill at December 31, 2018 $ 153,974 Foreign currency translation adjustment 1,408 Goodwill at March 31, 2019 $ 155,382 The annual impairment tests for the Tech-focused reporting unit, which were performed as of October 1, 2018 and 2017, resulted in the fair value of the reporting unit exceeding the carrying value by 40% and 1%, respectively. The increased fair value as compared to the carrying value is primarily driven by improved operating results and projections and a reduction in the estimated tax rate from 36% at October 1, 2017 to 26% at October 1, 2018. Results for the Tech-focused reporting unit for the fourth quarter of 2018 and estimated future results as of March 31, 2019 are consistent with the October 1, 2018 analysis. As a result, the Company believes it is not more likely than not that the fair value of the reporting units is less than the carrying value as of December 31, 2018. Therefore, no interim impairment testing was performed as of March 31, 2019. The amount of goodwill as of March 31, 2019 allocated to the Tech-focused reporting unit was $155.4 million . Determining the fair value of a reporting unit is judgmental in nature and requires the use of estimates and key assumptions, particularly assumed discount rates and projections of future operating results. The discount rate applied for the Tech-focused reporting unit was 14.3% An increase to the discount rate applied or reductions to future projected operating results could result in future impairment of the Tech-focused reporting unit’s goodwill. It is reasonably possible that changes in judgments, assumptions and estimates the Company made in assessing the fair value of goodwill could cause the Company to consider some portion or all of the goodwill of the Tech-focused reporting unit to become impaired. In addition, a future decline in the overall market conditions and/or changes in the Company’s market share could negatively impact the estimated future cash flows and discount rates used to determine the fair value of the reporting unit and could result in an impairment charge in the foreseeable future. The Tech-focused reporting unit has gone through a period of revenue declines, resulting from competition in the U.S. as well as market slowness in the U.K. due to Brexit. These disruptions and uncertainties could decrease demand for finance and technology professionals in the markets we serve. This decline in demand and any future declines in demand could significantly decrease the use of our finance and technology industry job posting websites and related services, which may adversely affect the Tech-focused reporting unit's financial condition and results of operations. If recruitment activity is slow in the industries in which we operate during the remainder of 2019 and beyond, our revenues and results of operations may be negatively impacted. As a result of these factors, in the first quarter, the Company further evaluated the fair value of the Tech-focused reporting unit and believes it is not more likely than not that the fair value is less than the carrying value. If events and circumstances change resulting in significant reductions in actual operating income or projections of future operating income, the Company will test this reporting unit for impairment prior to the annual impairment test. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Contract with Customer, Liability, Revenue Recognized | During the three months ended March 31, 2019 and 2018, the Company recognized the following revenues as a result of changes in the contract liability balances in the respective periods (in thousands): Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period $ 24,933 $ 31,984 |
Schedule of Disaggregation of Revenue | The following table provides information about disaggregated revenue by brand and includes a reconciliation of the disaggregated revenue with reportable segments (in thousands): Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Tech-Focused Other Total Tech-Focused Other Total Dice $ 23,146 $ — $ 23,146 $ 23,282 $ — $ 23,282 ClearanceJobs 5,782 — 5,782 4,804 — 4,804 eFinancial Careers 8,192 — 8,192 8,563 — 8,563 Dice Europe (1) — — — 1,292 — 1,292 Hcareers (2) — — — — 3,393 3,393 Rigzone (2) — — — — 1,525 1,525 BioSpace (2) — — — — 212 212 Total $ 37,120 $ — $ 37,120 $ 37,941 $ 5,130 $ 43,071 (1) The Company ceased Dice Europe operations on August 31, 2018. (2) The Company sold the RigLogix portion of the Rigzone business on February 20, 2018 and transferred majority ownership of the remaining Rigzone business to Rigzone management on August 31, 2018. Hcareers was sold on May 22, 2018 and the Company transferred majority ownership of BioSpace to BioSpace management on January 31, 2018. |
Schedule of Contract Balances | The following table provides information about opening and closing balances of receivables and contract liabilities from contracts with customers as required under Topic 606 (in thousands): As of March 31, 2019 As of December 31, 2018 Receivables $ 25,157 $ 22,850 Short-term contract liabilities (deferred revenue) 59,954 54,723 Long-term contract liabilities (deferred revenue) 1,058 1,363 |
Schedule of Expected Timing of Satisfaction for Performance Obligations | Under the guidance of Topic 606, the following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands): Remainder of 2019 2020 2021 Total Tech-focused $ 56,424 $ 4,529 $ 59 $ 61,012 |
INDEBTEDNESS (Tables)
INDEBTEDNESS (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Debt Instrument [Line Items] | |
Schedule of Long-term Debt | The amounts borrowed as of March 31, 2019 and December 31, 2018 are as follows (dollars in thousands): March 31, December 31, Amounts borrowed: Revolving credit facility $ 17,000 $ 18,000 Less: deferred financing costs, net of accumulated amortization of $61 and $25 (675 ) (712 ) Total borrowed $ 16,325 $ 17,288 Available to be borrowed under revolving facility, subject to certain limitations $ 73,000 $ 72,000 Interest rates: LIBOR rate loans: Interest margin 1.75 % 1.75 % Actual interest rates 4.25 % 4.25 % |
EQUITY TRANSACTIONS (Tables)
EQUITY TRANSACTIONS (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Equity, Class of Treasury Stock [Line Items] | |
Class of Treasury Stock [Table Text Block] | Stock Repurchase Plans —In May 2018, the Board of Directors authorized a stock repurchase program (the "Stock Repurchase Plan") that permits the purchase of up to $7 million of the Company's common stock through May 2019. Under the plan, management has discretion in determining the conditions under which shares may be purchased from time to time. |
Schedule of Repurchase Agreements [Table Text Block] | During the quarter ended March 31, 2019 , purchases of the Company's common stock pursuant to the Stock Repurchase Plan were as follows: Total Number of Shares Purchased [1] Average Price Paid per Share [2] Approximate Dollar Value of Shares Purchased Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs 250,145 $1.96 $491,286 $4,504,395 |
DISPOSITION RELATED AND OTHER_2
DISPOSITION RELATED AND OTHER COSTS (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table displays a roll forward of the disposition related and other costs and related liability balances (in thousands): Three Months Ended March 31, 2019 Accrual at December 31, 2018 Expense Cash Payments Accrual at March 31, 2019 Severance and retention $ 1,089 $ 763 $ (1,125 ) $ 727 Professional fees and other costs 1,271 112 (179 ) 1,204 Lease exit and related asset impairment costs 947 — (305 ) 642 Total disposition related and other costs $ 3,307 $ 875 $ (1,609 ) $ 2,573 Three Months Ended March 31, 2018 Accrual at December 31, 2017 Expense Cash Payments Accrual at March 31, 2018 Severance and retention $ 1,237 $ 602 $ (987 ) $ 852 Professional fees and other costs 825 409 (581 ) 653 Total disposition related and other costs $ 2,062 $ 1,011 $ (1,568 ) $ 1,505 |
STOCK BASED COMPENSATION (Table
STOCK BASED COMPENSATION (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Weighted Average Remaining Contractual Life | A summary of the status of options previously granted as of March 31, 2019 and 2018 , and the changes during the periods then ended, is presented below: Three Months Ended March 31, 2019 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at beginning of the period 327,000 $ 8.35 $ — Forfeited (94,000 ) $ 8.77 $ — Options outstanding at end of period 233,000 $ 8.19 $ — Exercisable at end of period 233,000 $ 8.19 $ — Three Months Ended March 31, 2018 Options Weighted-Average Exercise Price Aggregate Intrinsic Value Options outstanding at beginning of the period 1,101,875 $ 9.28 $ — Forfeited (117,500 ) $ 14.34 $ — Options outstanding at end of period 984,375 $ 8.67 $ — Exercisable at end of period 979,155 $ 8.68 $ — |
Schedule of Exercise Price Range | he following table summarizes information about options outstanding as of March 31, 2019 : Exercise Price Options Outstanding and Exercisable Weighted- Average Remaining Contractual Life (in years) $ 7.00 - $ 7.99 140,000 1.9 $ 8.00 - $ 8.99 23,000 2.3 $ 9.00 - $ 9.99 70,000 0.9 233,000 |
Performance Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Nonvested Share Activity | A summary of the status of PSUs as of March 31, 2019 and 2018 and the changes during the periods then ended is presented below: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 1,255,000 $ 3.45 760,003 $ 6.92 Granted 680,000 $ 2.35 — $ — Forfeited (262,500 ) $ 6.91 (255,003 ) $ 8.27 Non-vested at end of period 1,672,500 $ 2.46 505,000 $ 6.24 |
Restricted Stock Units (RSUs) [Member] | |
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, 2019 and 2018 and the changes during the periods then ended is presented below: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Shares Weighted- Average Fair Value at Grant Date Shares Weighted- Average Fair Value at Grant Date Non-vested at beginning of the period 4,518,932 $ 2.32 2,393,257 $ 5.48 Granted 1,455,500 $ 2.39 1,506,500 $ 1.65 Forfeited (113,250 ) $ 3.55 (90,625 ) $ 5.32 Vested (614,604 ) $ 3.88 (605,625 ) $ 6.98 Non-vested at end of period 5,246,578 $ 2.13 3,203,507 $ 3.40 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following table shows the segment information (in thousands and recast for the change in reportable segments): Three Months Ended March 31, 2019 2018 By Segment: Revenues: Tech-focused $ 37,120 $ 37,941 Other — 5,130 Total revenues $ 37,120 $ 43,071 Depreciation: Tech-focused $ 2,425 $ 2,157 Other — 133 Total depreciation $ 2,425 $ 2,290 Amortization: Tech-focused $ — $ — Other — 291 Total amortization $ — $ 291 Operating income: Tech-focused $ 3,592 $ 1,656 Other — 5,193 Operating income 3,592 6,849 Interest expense and other (105 ) (546 ) Other expense — (9 ) Income before income taxes $ 3,487 $ 6,294 Capital expenditures: Tech-focused $ 3,052 $ 1,781 Other — 133 Total capital expenditures $ 3,052 $ 1,914 Three Months Ended March 31, 2019 2018 By Geography: Revenues: United States $ 29,619 $ 30,005 United Kingdom 4,709 4,622 EMEA, APAC and Canada (1) 2,792 8,444 Non-United States 7,501 13,066 Total revenues $ 37,120 $ 43,071 (1) Europe (excluding United Kingdom), the Middle East and Africa (“EMEA”) and Asia-Pacific (“APAC”) The Company's total assets as of March 31, 2019 and December 31, 2018 are entirely Tech-focused due to the non-tech businesses being divested during 2018. |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 2018 Net income (loss) $ 1,588 $ 3,503 Weighted-average shares outstanding—basic 48,103 48,258 Add shares issuable from stock-based awards 2,227 716 Weighted-average shares outstanding—diluted 50,330 48,974 Basic earnings per share $ 0.03 $ 0.07 Diluted earnings per share $ 0.03 $ 0.07 |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lease, Cost | The components of lease cost were as follows (in thousands): Three Months Ended March 31, 2019 Operating lease cost * $ 1,123 Sublease income (327 ) Total lease cost $ 796 * Includes short-term lease costs and variable lease costs, which are immaterial. Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,106 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 953 |
Supplemental Balance Sheet Information | Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount): Three Months Ended March 31, 2019 Operating lease right-of-use-assets $ 17,533 Operating lease liabilities - current 3,926 Operating lease liabilities - non-current 14,250 Total operating lease liabilities $ 18,176 Weighted Average Remaining Lease Term (in years) Operating leases 5.67 Weighted Average Discount Rate Operating leases 4.32 % |
Schedule of Maturities of Lease Liabilities | Future minimum lease commitments as of December 31, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows (in thousands): Operating Leases 2019 $ 4,244 2020 3,710 2021 3,097 2022 2,540 2023 2,300 2024 and thereafter 4,524 Total minimum payments $ 20,415 were as follows (in thousands): Operating Leases April 1, 2019 through December 31, 2019 $ 3,481 2020 4,136 2021 3,500 2022 2,690 2023 2,446 2024 and Thereafter 4,343 Total lease payments $ 20,596 Less imputed interest 2,420 Total $ 18,176 |
SIGNIFCANT ACCOUNTING POLICIE_2
SIGNIFCANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | ||||
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Measure of Progress | $ 200 | |||
Contract with Customer, Asset, Cumulative Catch-up Adjustment to Revenue, Modification of Contract | 6,100 | |||
Cumulative Effect on Retained Earnings, Net of Tax | $ 4,500 | |||
Operating lease right-of-use-assets | $ 17,533 | $ 17,200 | $ 0 | |
Operating lease liability | $ 18,176 | $ 18,000 |
REVENUE RECOGNITION Revenue Rec
REVENUE RECOGNITION Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 31, 2019 | Jan. 01, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Increase to opening retained earnings | $ 71,435 | $ 73,023 | |
Receivables related to businesses divested | 4,400 | ||
Short-term contract liabilities related to businesses divested | $ 8,400 | ||
Effect of Change - Higher (Lower) [Member] | Accounting Standards Update 2014-09 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Increase to opening retained earnings | $ 4,500 |
Revenue Recognition - Disaggreg
Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | $ 37,120 | $ 43,071 |
Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 37,120 | 37,941 |
Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 5,130 |
Dice [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 23,146 | 23,282 |
Dice [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 23,146 | 23,282 |
Dice [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
ClearanceJobs [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 5,782 | 4,804 |
ClearanceJobs [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 5,782 | 4,804 |
ClearanceJobs [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
Dice Europe [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 1,292 |
Dice Europe [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 1,292 |
Dice Europe [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
eFinancial Careers [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 8,192 | 8,563 |
eFinancial Careers [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 8,192 | 8,563 |
eFinancial Careers [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
Hcareers [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 3,393 |
Hospitality [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 3,393 |
Hospitality [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
Rigzone [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 1,525 |
Rigzone [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
Rigzone [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 1,525 |
Biospace [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 212 |
Biospace [Member] | Tech-Focused [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | 0 | 0 |
Biospace [Member] | Corporate & Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Disaggregated revenue | $ 0 | $ 212 |
REVENUE RECOGNITION Revenue R_2
REVENUE RECOGNITION Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | ||
Receivables | $ 25,157 | |
Short-term contract liabilities (deferred revenue) | 59,954 | |
Long-term contract liabilities (deferred revenue) | 1,058 | |
Amounts included in the contract liability at the beginning of the period | $ 24,933 | $ 31,984 |
REVENUE RECOGNITION Revenue R_3
REVENUE RECOGNITION Revenue Recognition - Performance Obligations (Details) - Tech [Member] $ in Thousands | Mar. 31, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Tech-focused revenue, expected timing of satisfaction | 9 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Tech-focused revenue, remaining performance obligation | $ 56,424 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Tech-focused revenue, remaining performance obligation | $ 4,529 |
Tech-focused revenue, expected timing of satisfaction | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Tech-focused revenue, remaining performance obligation | $ 61,012 |
Tech-focused revenue, expected timing of satisfaction | 2 years |
Revenue Recognition Impact on C
Revenue Recognition Impact on Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 |
Disaggregation of Revenue [Line Items] | |||
Capitalized contract costs | $ 7,259 | $ 7,939 | |
Total assets | 275,576 | 258,385 | |
Deferred revenue | 59,954 | 54,723 | |
Deferred income taxes | 10,402 | 10,444 | |
Total liabilities | 126,761 | 113,030 | |
Stockholders equity | |||
Accumulated earnings | 73,023 | 71,435 | |
Total stockholders' equity | 148,815 | 145,355 | |
Total liabilities & stockholders' equity | $ 275,576 | $ 258,385 | |
Effect of Change - Higher (Lower) [Member] | Accounting Standards Update 2014-09 [Member] | |||
Stockholders equity | |||
Accumulated earnings | $ 4,500 |
Revenue Recognition Impact on_2
Revenue Recognition Impact on Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Net income | $ 1,588 | $ 3,503 |
Deferred income taxes | (55) | 82 |
Gain on sale of businesses, net | 0 | 4,639 |
Capitalized contract costs | 708 | (1,398) |
Deferred revenue | 4,785 | (3,745) |
Net cash flows from operating activities | $ 3,238 | $ 6,918 |
ACQUIRED INTANGIBLE ASSETS, N_2
ACQUIRED INTANGIBLE ASSETS, NET (Summary of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Disposal Group, Including Discontinued Operation, Intangible Assets | $ 12,900 | |
Acquired intangible assets, net | $ 39,000 | 39,000 |
Accumulated Depreciation, Depletion and Amortization, Sale or Disposal of Property, Plant and Equipment | $ 6,700 | |
Indefinite-lived Intangible Assets Acquired | $ 39,000 |
INDEBTEDNESS (Details)
INDEBTEDNESS (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018USD ($) | Aug. 31, 2017USD ($) | |
Debt Instrument [Line Items] | ||||
restricted payments under the Credit Agreement | $ 5,000 | |||
Maximum available to be borrowed under revolving facility | 140,000 | $ 90,000 | $ 150,000 | |
Securities Borrowed | 18,000 | |||
Unamortized Debt Issuance Expense | 200 | |||
Total borrowed | $ 16,325 | $ 17,288 | ||
London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest margin | 1.75% | 1.75% | ||
Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Ratio of Indebtedness to Net Capital, Pro forma basis | 1 | |||
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest margin | 1.75% | |||
Minimum [Member] | Base Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest margin | 0.75% | |||
Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Ratio of Indebtedness to Net Capital, Pro forma basis | 2 | |||
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest margin | 2.50% | |||
Maximum [Member] | Base Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest margin | 1.50% | |||
Borrowings [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Ratio of Indebtedness to Net Capital, Pro forma basis | 1 | |||
Borrowings [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Ratio of Indebtedness to Net Capital, Pro forma basis | 2.5 |
INDEBTEDNESS (Schedule of Credi
INDEBTEDNESS (Schedule of Credit Agreement) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||
Revolving credit facility | $ 17,000 | $ 18,000 |
Less: deferred financing costs, net of accumulated amortization of $61 and $25 | (675) | (712) |
Total borrowed | 16,325 | 17,288 |
Line of Credit Facility, Remaining Borrowing Capacity | 73,000 | 72,000 |
Accumulated Amortization, Deferred Finance Costs | $ 61 | $ 25 |
London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument [Line Items] | ||
Interest margin | 1.75% | 1.75% |
Actual interest rates | 4.25% | 4.25% |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2018 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||
2019 | $ 3,710 | |
2020 | 3,097 | |
2021 | 2,540 | |
2022 | 2,300 | |
2024 and thereafter | 4,524 | |
Total minimum payments | $ 20,415 | |
Operating Leases, Rent Expense, Net [Abstract] | ||
Loss Contingency Accrual, Period Increase (Decrease) | $ 1,000 |
EQUITY TRANSACTIONS (Details)
EQUITY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | May 31, 2018 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchase Program, Not Settled | 26,337 | |||
Treasury Stock, Shares, Retired | 20,000,000 | |||
Adjustments to Additional Paid in Capital, Other | $ 161,600 | |||
Fresh-Start Adjustment, Increase (Decrease), Common Stock | 200 | |||
Treasury Stock, Value | $ 118,066 | $ 278,843 | $ 7,000 | |
Treasury Stock, Shares, Acquired | 250,000 | |||
Treasury Stock Acquired, Average Cost Per Share | $ 1.96 | |||
Treasury Stock Acquired, Average Cost Per Share | $ 8.77 | $ 14.34 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 491 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 4,504 | |||
Stock Repurchase Program, Authorized Amount | $ 7,000 | |||
Liabilities, Noncurrent | 1,000 | |||
Other Additional Capital | $ 1,000 | |||
Treasury Stock [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 8.09 |
DISPOSITION RELATED AND OTHER_3
DISPOSITION RELATED AND OTHER COSTS Schedule of Restructuring Costs- Disposition (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Environmental Exit Costs, Name of Property [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | $ 947 | |||
Disposition 2017 [Member] | Corporate and Other [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | $ 2,573 | $ 1,505 | 3,307 | $ 2,062 |
Restructuring and Related Cost, Incurred Cost | 875 | |||
Payments for Restructuring | (1,609) | 1,011 | ||
Non Deductible Impairment Charge | (1,568) | |||
Disposition 2017 [Member] | Corporate and Other [Member] | Employee Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 727 | 852 | 1,089 | 1,237 |
Restructuring and Related Cost, Incurred Cost | 763 | 602 | ||
Payments for Restructuring | (1,125) | (987) | ||
Disposition 2017 [Member] | Corporate and Other [Member] | Professional Fees [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 1,204 | 653 | $ 1,271 | $ 825 |
Restructuring and Related Cost, Incurred Cost | 112 | 409 | ||
Payments for Restructuring | (179) | $ (581) | ||
Disposition 2017 [Member] | Corporate and Other [Member] | Environmental Exit Costs, Name of Property [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve | 642 | |||
Restructuring and Related Cost, Incurred Cost | 0 | |||
Payments for Restructuring | $ (305) |
STOCK BASED COMPENSATION (Detai
STOCK BASED COMPENSATION (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 1 year 7 months | |||
Stock based compensation expense | $ 1,500 | $ 2,500 | ||
Unrecognized compensation expense | $ 11,877 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 7 months | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,750,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 750,000 |
STOCK BASED COMPENSATION (Statu
STOCK BASED COMPENSATION (Status of Restricted Stock) (Details) - $ / shares | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 750,000 | ||
Restricted Stock [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at beginning of period (in shares) | 4,518,932 | 2,393,257 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,455,500 | 1,506,500 | |
Forfeited (in shares) | (113,250) | (90,625) | |
Vested (in shares) | (614,604) | (605,625) | |
Non-vested at end of period (in shares) | 5,246,578 | 4,518,932 | 3,203,507 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested at beginning of the period (in usd per share) | $ 2.32 | $ 5.48 | |
Granted (in usd per share) | 2.39 | 1.65 | |
Forfeited (in usd per share) | 3.55 | 5.32 | |
Vested (in usd per share) | 3.88 | 6.98 | |
Non-vested at end of period (in usd per share) | $ 2.13 | $ 2.32 | $ 3.40 |
STOCK BASED COMPENSATION Status
STOCK BASED COMPENSATION Status of PSUs (Details) - $ / shares | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Nonvested, Number of Shares [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 750,000 | ||
Performance Stock Units [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at beginning of period (in shares) | 1,255,000 | 760,003 | |
Forfeited (in shares) | (262,500) | (255,003) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 680,000 | 0 | |
Non-vested at end of period (in shares) | 1,672,500 | 1,255,000 | 505,000 |
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested at beginning of the period (in usd per share) | $ 3.45 | $ 6.92 | |
Forfeited (in usd per share) | 6.91 | 8.27 | |
Granted (in usd per share) | 2.35 | 0 | |
Non-vested at end of period (in usd per share) | $ 2.46 | $ 3.45 | $ 6.24 |
PSU - 2016 & 2017 Plan [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at end of period (in shares) | 252,500 | ||
PSU - 2018 [Member] | |||
Nonvested, Number of Shares [Roll Forward] | |||
Non-vested at end of period (in shares) | 1,420,000 |
STOCK BASED COMPENSATION (Summa
STOCK BASED COMPENSATION (Summary of Status of Options) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Options, Outstanding [Roll Forward] | ||
Options outstanding at beginning of period (in shares) | 327,000 | 1,101,875 |
Forfeited (in shares) | (94,000) | (117,500) |
Options outstanding at end of period (in shares) | 233,000 | 984,375 |
Exercisable at end of period (in shares) | 233,000 | 979,155 |
Weighted Average Exercise Price [Roll Forward] | ||
Options outstanding at beginning of period (in usd per share) | $ 8.35 | $ 9.28 |
Forfeited (in usd per share) | 8.77 | 14.34 |
Options outstanding at end of period (in usd per share) | 8.19 | 8.67 |
Exercisable at end of period (in usd per share) | $ 8.19 | $ 8.68 |
Aggregate Instrinsic Value [Abstract] | ||
Options outstanding at beginning of the period | $ 0 | $ 0 |
Options outstanding at end of period | 0 | 0 |
Exercisable at end of period | $ 0 | $ 0 |
STOCK BASED COMPENSATION (Sum_2
STOCK BASED COMPENSATION (Summary of Options Outstanding) (Details) shares in Thousands | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 7 months |
Number of options outstanding (in shares) | shares | 233 |
$ 7.00 - $ 7.99 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 11 months |
Exercise price, lower limit | $ 7 |
Exercise price, upper limit | $ 7.99 |
Number of options outstanding (in shares) | shares | 140 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 1 year 11 months |
$ 8.00 - $ 8.99 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years 3 months |
Exercise price, lower limit | $ 8 |
Exercise price, upper limit | $ 8.99 |
Number of options outstanding (in shares) | shares | 23 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 years 3 months |
$ 9.00 - $ 9.99 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 11 months |
Exercise price, lower limit | $ 9 |
Exercise price, upper limit | $ 9.99 |
Number of options outstanding (in shares) | shares | 70 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 11 months |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 37,120 | $ 43,071 | |
Depreciation | 2,425 | 2,290 | |
Amortization of intangible assets | 0 | 291 | |
Operating income | 3,592 | 6,849 | |
Interest expense | (105) | (546) | |
Other expense | 0 | (9) | |
Income before income taxes | 3,487 | 6,294 | |
Capital expenditures | 3,052 | 1,914 | |
Total assets | 275,576 | $ 258,385 | |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 29,619 | 30,005 | |
UNITED KINGDOM | |||
Segment Reporting Information [Line Items] | |||
Revenues | 4,709 | 4,622 | |
EMEA, APAC and Canada [Domain] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,792 | 8,444 | |
Non-US [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 7,501 | 13,066 | |
Tech [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 37,120 | 37,941 | |
Depreciation | 2,425 | 2,157 | |
Amortization of intangible assets | 0 | 0 | |
Operating income | 3,592 | 1,656 | |
Capital expenditures | 3,052 | 1,781 | |
Corporate & Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | 5,130 | |
Depreciation | 0 | 133 | |
Amortization of intangible assets | 0 | 291 | |
Operating income | 0 | 5,193 | |
Capital expenditures | $ 0 | $ 133 |
SEGMENT INFORMATION (Carrying A
SEGMENT INFORMATION (Carrying Amount of Goodwill) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Goodwill [Roll Forward] | |
Goodwill at December 31, 2018 | $ 153,974 |
Foreign currency translation adjustment | (1,408) |
Goodwill at March 31, 2019 | $ 155,382 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share [Abstract] | ||
Weighted Average Number of Shares, excluded from computation | 1,300 | 2,700 |
Income from continuing operations- basic and diluted | $ 1,588 | $ 3,503 |
Weighted average shares outstanding-basic | 48,103 | 48,258 |
Weighted Average Number of Shares, Contingently Issuable | 2,227 | 716 |
Weighted average diluted shares outstanding | 50,330 | 48,974 |
Basic earnings (loss) per share (in dollars per share) | $ 0.03 | $ 0.07 |
Diluted earnings (loss) per share (in dollars per share) | $ 0.03 | $ 0.07 |
INVESTMENTS (Details)
INVESTMENTS (Details) - USD ($) $ in Millions | 3 Months Ended | ||||||
Mar. 31, 2018 | Jan. 31, 2023 | Dec. 31, 2018 | Sep. 30, 2018 | Aug. 31, 2018 | Jan. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||||
Interest in Diluted Shares of Cost Method Investment | 8.00% | 10.00% | |||||
Cost Method Investments, Original Cost | $ 2 | ||||||
Biospace [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Discontinued Operation, Equity Method Investment Retained after Disposal, Ownership Interest after Disposal | 20.00% | ||||||
Temporary Equity, Liquidation Preference | $ 1 | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners, Preferred Share Interest | 20.00% | 20.00% | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners, Common Stock Interest | 20.00% | 20.00% | |||||
Rigzone [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners, Common Stock Interest | 40.00% | 40.00% |
SALE OF BUSINESS (Details)
SALE OF BUSINESS (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||||
Mar. 31, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Jan. 31, 2023 | Aug. 31, 2018 | Jan. 31, 2018 | |
Segment Reporting Information [Line Items] | |||||||
Loss on sale of business | $ 0 | $ 4,639 | |||||
Hospitality [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Proceeds from Divestiture of Businesses | $ 16,500 | ||||||
Divestiture of business selling costs | 1,500 | ||||||
Escrow Deposits Related to Property Sales | 1,700 | ||||||
Proceeds from Divesture of Business, Receivable, Working Capital | 200 | ||||||
Net Cash Provided by (Used in) Discontinued Operations | 14,000 | ||||||
Proceeds from Divesture of Business, Receivable, Working Capital | $ (800) | ||||||
Rigzone [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners, Common Stock Interest | 40.00% | 40.00% | |||||
Proceeds from Divestiture of Businesses | 4,200 | ||||||
Divestiture of business selling costs | $ 400 | 600 | |||||
Escrow Deposits Related to Property Sales | 400 | ||||||
Loss on sale of business | $ 400 | ||||||
Proceeds from Divesture of Business, Receivable, Working Capital | 4,554 | ||||||
Disposal Group, Including Discontinued Operation, Deferred Revenue | 1,200 | ||||||
Biospace [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners, Common Stock Interest | 20.00% | 20.00% | |||||
Divestiture of business selling costs | 300 | ||||||
Proceeds from Divesture of Business, Receivable, Working Capital | $ (500) | ||||||
Interest in Diluted Shares of Cost Method Investment | 20.00% |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
INCOME TAXES [Abstract] | |||
Effective Income Tax Rate Reconciliation, Percent | 54.50% | 44.30% | |
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation | $ 0.7 | $ 1.3 | |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 0.4 |
LEASES (Details)
LEASES (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Lessee, Lease, Description [Line Items] | |||
Operating lease right-of-use-assets | $ 17,533 | $ 17,200 | $ 0 |
Operating lease liability | $ 18,176 | $ 18,000 | |
Minimum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lease term of contract (in years) | 1 year | ||
Maximum [Member] | |||
Lessee, Lease, Description [Line Items] | |||
Lease term of contract (in years) | 8 years |
LEASES (Lease Cost) (Details)
LEASES (Lease Cost) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 1,123 |
Sublease income | (327) |
Total lease cost | 796 |
Cash paid for amounts included in measurement of lease liabilities: | |
Operating cash flows from operating leases | 1,106 |
Right-of-use assets obtained in exchange for lease obligations: | |
Operating leases | $ 953 |
LEASES (Supplemental Balance Sh
LEASES (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Leases [Abstract] | |||
Operating lease right-of-use-assets | $ 17,533 | $ 17,200 | $ 0 |
Operating lease liabilities - current | 3,926 | 0 | |
Operating lease liabilities - non-current | 14,250 | $ 0 | |
Total operating lease liabilities | $ 18,176 | $ 18,000 | |
Weighted Average Remaining Lease Term (in years) | |||
Operating leases | 5 years 8 months 1 day | ||
Weighted Average Discount Rate | |||
Operating leases | 4.32% |
LEASES (Maturities of Lease Lia
LEASES (Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, After Adoption of 842 | |||
April 1, 2019 through December 31, 2019 | $ 3,481 | ||
2020 | 4,136 | ||
2021 | 3,500 | ||
2022 | 2,690 | ||
2023 | 2,446 | ||
2024 and Thereafter | 4,343 | ||
Lessee, Operating Lease, Liability, Payments, Due | 20,596 | ||
Less imputed interest | 2,420 | ||
Total | $ 18,176 | $ 18,000 | |
Operating Leases, Before Adoption of 842 | |||
2019 | $ 4,244 | ||
2020 | 3,710 | ||
2021 | 3,097 | ||
2022 | 2,540 | ||
2023 | 2,300 | ||
2024 and thereafter | 4,524 | ||
Total minimum payments | $ 20,415 |
LEASES (Impact of Adoption of 8
LEASES (Impact of Adoption of 842) (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Assets | |||
Operating lease right-of-use-assets | $ 17,533 | $ 17,200 | $ 0 |
Prepaid and other current assets | 6,545 | 7,330 | |
Total assets | 275,576 | 258,385 | |
Liabilities | |||
Operating lease liabilities - current | 3,926 | 0 | |
Operating lease liabilities - non-current | 14,250 | 0 | |
Accounts payable and accrued expenses | 17,532 | 25,030 | |
Other long-term liabilities | 385 | 1,334 | |
Total liabilities | 126,761 | 113,030 | |
Total stockholders' equity | 148,815 | 145,355 | |
Accumulated earnings | 73,023 | 71,435 | |
Total liabilities & stockholders' equity | $ 275,576 | $ 258,385 |
GOODWILL (Details)
GOODWILL (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Goodwill [Roll Forward] | |
Goodwill at December 31, 2018 | $ 153,974 |
Foreign currency translation adjustment | 1,408 |
Goodwill at March 31, 2019 | 155,382 |
Tech-Focused [Member] | |
Goodwill [Roll Forward] | |
Goodwill at March 31, 2019 | $ 155,400 |