Move Inc Revenue Down Again in Q3

Move Inc, the company behind top US real estate websites move.com and realtor.com, has announced third quarter revenue of US$52.9 million, down from to $61.2 million in the third quarter of 2008.

Income from continuing operations was $753,000, compared to a loss of $2.1 million in the third quarter of 2008. Net loss applicable to common stockholders was $758,000, or $0.00 per share, compared to a net loss of $22.7 million, or a loss of $0.15 per share in the third quarter of 2008.

Move’s Adjusted EBITDA on a non-GAAP basis was $5.6 million, or 11 percent of revenue, compared to $5.7 million, or 9 percent of revenue, for the third quarter of 2008.

The company says it will end the last quarter of 2009 with revenue ranging between $47 million and $48 million.

Move saw a drop in revenue in the first quarter of 2009 as well as the second quarter compared to 2008 totals.

Move’s chief finanicial officer, Robert J. Krolick, who joined the company in July, had this to say about the company’s business outlook:

“We will exit 2009 with a more stable cost structure and a greater focus on delivering consistent cash flow. We have eliminated several unprofitable revenue sources through a series of divestments and partnerships in 2009.

With a strong balance sheet, we are well-positioned to continue making strategic investments in long term growth until we begin to benefit from our initiatives to refocus our company, launch new products for our customers, and take advantage of our clear position as the leading online real estate company.”

2009 has seen plenty of change at Move Inc, with the sale of Welcome Wagon, a new CEO and the departure of president Lorna Borenstein, plus serious overhauls of seniorhousing.net and moving.com and new plans for realtor.com.The company moved headquarters last month in an effort to cut costs, and just launched the Builders Digital Experience website – a joint venture dedicated to helping new home builders reach buyers.

Move’s share price ended the day’s trading up 1.06 percent.

1. Another Drop in Move Inc Revenue

   Move Inc, the company behind top US real estate websites move.com and realtor.com, has announced revenue of US$49.6 million for the fourth quarter of 2009. This is down from $57.5 million in the fourth quarter of 2008 and follows a revenue drop in Q3 2009 compared to 2008 totals. This revenue figure is higher than Move had predicted in its third quarter results, when it said it was expecting revenue ranging between $47 million and $48 million....

2. Move Inc. Reports Revenue Down

   Move, Inc. has reported its financial results for the second quarter of 2009, with revenue down to $54.6 million, compared to $61.4 million in the second quarter of 2008. ...

3. Move Announces 3rd Qtr Revenue of US$61.2m

   US market leader Move Inc has released their financial results for the third quarter ended September 30, 2008. A press release from the company says total revenue for the third quarter was slightly down to $61.2 million compared to $63.4 million in the third quarter of 2007 ...

4. Move, Inc. Announces 1st Quarter Results

   Move, Inc. has reported its financial results for the first quarter of 2009. ...

5. Move, Inc. Loses Board Member

   William Kelvie has resigned from his position on the Move, Inc. board of directors. Move is the parent company of top US real estate websites realtor.com and move.com. Kelvie joined the board of directors in 1998, and his professional history also includes executive roles with Fannie Mae and the job of CEO at IT company Overture Corporation....