Realtor.com operator Move Inc. said it posted a $1.6 million first-quarter loss as revenue inched up 1 percent from a year ago to $49.1 million.
Operating income — earnings before interest, taxes, stock-based compensation and charges, depreciation, and amortization (EBITDA) — totaled $5.4 million for the quarter, a margin equal to 11 percent of revenue.
Move issued guidance saying the company expects to generate $200 million to $205 million in revenue this year with adjusted EBITDA margin of 13 to 14 percent. That projection would represent a bump up from revenue of $197.5 million in 2010, but down from peak revenue of $249 million seen in 2007, at the tail end of the housing boom.
Last year, Move negotiated a new Realtor.com operating agreement with the National Association of Realtors, acquired Threewide Corp. and its listings syndicator ListHub, entered into an advertising alliance with AOL, and launched a new site devoted to lending, MortgageMatch.com.
In recent months, Move has launched its first iPad app, renewed an ad partnership with Century 21 Real Estate, and signed an advertising syndication agreement with BlockShopper to become the company’s national sales force for real estate advertisers.
Move’s mobile apps have been downloaded more than 3.6 million times since their debut in 2010.
Move CEO Steve Berkowitz said Realtor.com mobile apps have contributed to an approximately 240 percent increase in leads to local agents, and that open-house views are up 459 percent in four months.
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