Industry News

HouseValues raises first-quarter outlook

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HouseValues Inc. on Thursday raised its outlook for the first quarter of 2006 on better-than-expected progress in its mortgage business and continued strong demand for its real estate marketing services, the Kirkland, Wash.-based company said. HouseValues now expects first-quarter revenue to be approximately $26.8 million, and adjusted EBITDA to exceed $4 million, up from its previous estimates of $25.5 million to $26 million in revenue and $3 million to $3.5 million in adjusted EBITDA. ("EBITDA" stands for Earnings Before Interest, Taxes, Depreciation and Amortization.) "Our strong first-quarter revenue reflects progress in The Loan Page as well as the first quarter of revenue from HomePages," Ian Morris, HouseValues CEO, said in a statement. "HouseValues' first-quarter results demonstrate our progress with our investments in new products and towards achieving our 2006 goals." HouseValues also reiterated its expectation for all of 2006, expecting full-year revenue of between $105 ...