Move Inc. suffers $3.5 million loss in Q2

Move Inc., which operates property-search and other real estate Web sites including Realtor.com, on Thursday reported a $3.5 million loss in net income applicable to common stockholders during the second quarter, a result of the sluggish housing market and credit problems.

By contrast, the company posted net income of $1.4 million for the second quarter of 2006.

"Clearly the residential real estate market is going through a challenging period," said Mike Long, Move's chief executive officer, in a statement. "... We are well positioned to help both consumers and real estate professionals weather current conditions and emerge stronger."

Move's total revenue for the second quarter was $73.6 million, down slightly from $73.9 million in the second quarter of 2006.

EBITDA -- earnings before interest, restructuring charges and certain other noncash and nonrecurring items, principally stock-based charges, depreciation and amortization -- for the second quarter of 2007 was $6.9 million, compared with $4.7 million for the second quarter of 2006.

Shares of Move Inc. (NASDAQ:MOVE) stock traded at $3.07 at mid-morning Friday, up from the day's opening price of $3.

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