Revenue during the quarter dropped 13.92 percent to $56.07 million from $65.14 million in the previous year period. Gross margin for the quarter expanded 83 basis points over the previous year period to 85.83 percent. Operating margin for the quarter stood at negative 28.68 percent as compared to a positive 16.82 percent for the previous year period.

Operating loss for the quarter was $16.08 million, compared with an operating income of $10.96 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $14.91 million compared with $19.11 million in the prior year period. At the same time, adjusted EBITDA margin contracted 274 basis points in the quarter to 26.60 percent from 29.33 percent in the last year period.

"While our industry is still in the throes of a highly disruptive evolution that has impacted our recent performance, the value proposition of talent sourcing solutions for professionals continues to be high, and we are confident about the Company’s long-term prospects, "said Michael Durney, President and Chief Executive Officer of DHI Group, Inc. "Importantly, we initiated a strategic plan focused on significant opportunities in the tech vertical that we believe will position the Company as a leader in next-generation talent solutions. Also, in light of developments within our industry and our growth agenda, we have decided to explore strategic alternatives to ensure we have an ownership structure that best optimizes shareholder value and the execution of our strategic plan."

For financial year 2016, Dice Holdings forecasts revenue to be in the range of $225.30 million to $226.30 million. The company projects net loss to be in the range of $2.20 million to $2 million. It expects diluted loss per share to be in the range of $0.05 to $0.04.

For the fourth-quarter, Dice Holdings forecasts revenue to be in the range of $54 million to $55 million. The company projects net income to be in the range of $4.60 million to $4.80 million. It company expects diluted earnings per share to be in the range of $0.09 to $0.10 for the fourth-quarter.

The company has spent $6.03 million cash to meet investing activities during the nine month period as against cash outgo of $6.71 million in the last year period.

The company has spent $34.89 million cash to carry out financing activities during the nine month period as against cash outgo of $35.92 million in the last year period.

Cash and cash equivalents stood at $29.42 million as on Sep. 30, 2016, down 13.24 percent or $4.49 million from $33.91 million on Sep. 30, 2015.

Working capital remains negative
Working capital of Dice Holdings was negative $32.38 million on Sep. 30, 2016 compared with negative $29.29 million on Sep. 30, 2015. Current ratio was at 0.69 as on Sep. 30, 2016, down from 0.75 on Sep. 30, 2015.

Days sales outstanding went up to 65 days for the quarter compared with 59 days for the same period last year.

Debt comes down 
DHI Group, Inc. has recorded a decline in total debt over the last one year. It stood at $90.68 million as on Sep. 30, 2016, down 10.77 percent or $10.95 million from $101.62 million on Sep. 30, 2015. Total debt was 28.90 percent of total assets as on Sep. 30, 2016, compared with 24.89 percent on Sep. 30, 2015. Debt to equity ratio was at 0.89 as on Sep. 30, 2016, up from 0.58 as on Sep. 30, 2015.