Industry NewsTechnology

Move Inc. ekes out small profit operator focused on growth opportunities in 2012
Published on Nov 4, 2011 operator Move Inc. managed to stay in the black during the third quarter even as revenue slipped 7.5 percent from a year ago, to $46.5 million. Move slashed operating expenses by 6.7 percent during the same period, helping it eke out $242,000 in net income for July, August and September.Most of the cost-cutting was in sales and marketing, down 12.6 percent from a year ago to $16.3 million, and product and website development, down 4.7 percent to $8.4 million. General and administrative expenses were essentially unchanged from a year ago at $10.8 million for the quarter.In reporting third-quarter results, Move issued guidance to investors saying it expects 2011 revenue to total $192 million, slightly less than the $197.5 million in revenue the company generated in 2010 but a drop of nearly 23 percent from $248.9 million in 2007.Move CEO Steve Berkowitz said the company will continue to focus on "opportunities for growth in 2012 and beyond," saying the real estate...