Kirkland, Wash.-based HouseValues, an online marketing partner to real estate and mortgage professionals, today reported its third-quarter earnings more than doubled from the same period a year ago.
Third-quarter 2005 net income was $4.3 million, or 16 cents per diluted share, compared to $1.6 million, or 7 cents per diluted share, in net income for the third quarter of 2004.
HouseValues had an 82 percent increase in revenue for the third quarter of 2005, at $23.3 million.
In after-hours trading, the company’s stock (Nasdaq: SOLD) was up $1.62 a share, at $16, an 11.27 percent increase. The earnings of 16 cents per share beat the Reuters Estimates consensus of 12 cents, Briefings.com reported.
“We achieved record quarterly results while continuing to make significant strategic investments in the people, products, and technology to extend our market leadership position,” said Ian Morris, CEO of HouseValues, in a statement.
“We feel that we are well-positioned for growth, based upon continued strength in our lead generation businesses, the successful nationwide launch of HomePages.com, and the acquisition of The Loan Page.”
Last week, HouseValues announced that it had acquired San Francisco-based The Loan Page, an online mortgage lead acquisition company, to expand its mortgage offerings. The company said the acquisition would allow HouseValues to further capitalize on the $21 billion dollar mortgage advertising market and accelerate its growing mortgage business.
The company in October announced the launch of HomePages, a national home buying and selling service combining aerial maps, in-depth neighborhood information, and nationwide home listings in one integrated Web site.
Send tips or a Letter to the Editor to firstname.lastname@example.org or call (510) 658-9252, ext. 140.