Industry News

HouseValues boosts revenue, misses profit projections

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Second-quarter revenue was up but profits were down at real estate lead generator HouseValues Inc., the company said today as it announced the departure of its chief financial officer and a plan to buy back up to 2 million of its own shares. HouseValues, which generates sales leads from information consumers enter at Web sites including,, and, says it signed up more than 3,700 new agents as customers during the quarter. That helped boost revenue to $25.9 million, an increase of 26 percent from the second quarter of 2005. Net income was $1.9 million, compared with $3.7 million last year. The company said the 49 percent decline in profits was partly due to $1 million in stock compensation charges. Earnings per share dropped from 14 cents to 7 cents per share. HouseValues said it no longer expects to meet previously announced earnings projections, and has decided "to discontinue its practice of providing explicit guidance" on ...