JobCircle.com, an online multi-regional recruitment tool for IT professionals and employers in the Mid-Atlantic States, is continuing the trend of solid financial growth in the economically tight marketplace.
JobCircle.com closed its second quarter with $302,000 in revenues, up 27% from the same quarter last year. JobCircle.com closed the first quarter of the year with $393,000 in revenues, up 96% percent from the year before.
The less aggressive growth for the second quarter of 2001 is primarily due to slower hiring needs in the IT sector. With a new director of sales and doubling our sales staff, revenues are expected to climb for the remaining two quarters. For the first six months of 2001, the company experienced a revenue increase of 55% over the first six months of 2000.
ìJobCircle.com has received no outside funding to date, initially opening with $37K in start-up capital in early 1999. We achieved net profits in our first full fiscal year in 2001, making us a rare gem in the human capital arena,î said Joseph Stubblebine, president and CEO, whose company offers IT recruitment services throughout Pennsylvania, Delaware, New Jersey and New York.
JobCircle.com ended its first full fiscal year in 2000 with revenues of $1.4 million. The company had net profits of $186,000 in fiscal year 2000, after officer salaries; a 400% increase from 1999 revenues of $256,000.
ìWeíre pleased with our first quarter growth of almost 100% in an economic downturn. It shows weíve got viability even as hiring slows,î Stubblebine said. ìOur customers still need a source to find high-level information technology candidates and are turning to more cost-effective recruiting resources like JobCircle.î
In the PhiladelphiaDelawareSouth Jersey region, JobCircle.com boasts more employment listings in Java, Visual Basic, and Oracle than even Monster.com. JobCircle.com has roughly five times as many listings as ComputerJobs.com and nine times as many listings as Techies.com in the same regions.
ìThis clearly identifies us as a market leader in the regions we serveì said Bob Etheridge, vice president of marketing.
JobCircle.com is poised to expand multi-regionally, saturating each area before moving to additional markets, while focusing on quality, customer service, and the recruiting needs of the siteís nearly 400 customers.
ìAs budgets tighten, companies look to lower the cost-per-hire,î said Etheridge. ìRegional sites like JobCircle.com fill that role because we donít have huge national marketing budgets, and 90ñ95% of all employees donít want to relocate. As a result, weíre able to offer pricing that is substantially less than most national sites, and we often provide better results than the larger job boards. Weíre anxious to see what the future brings.î
www.jobcircle.com
jobCircle.com continues revenue growth - 08/2001
Quarterly results
