Move Inc. (NASDAQ:MOVE), which operates property-search and other real estate Web sites including National Association of Realtors-affiliated Realtor.com, on Thursday reported net income applicable to common stockholders of $1.3 million for the third quarter, or 1 cent per share, compared to net income of $1.9 million for third-quarter 2005.

The company reported total revenue of $75.7 million for the third quarter, up 14 percent from third-quarter 2005. Excluding stock-based compensation expense, net income would have been $5.4 million for the third quarter of 2006, Move Inc. reported.

For the first nine months of the year, net income applicable to common stockholders was $3.6 million, compared to $900,000 for the first nine months of 2005.

EBITDA – a measure of earnings before interest, restructuring charges and certain other non-cash and non-recurring items, principally stock-based charges, depreciation, and amortization – for the third quarter was $7.4 million, compared to $2.9 million in third-quarter 2005. EBITDA for third-quarter 2005 included $5.5 million in expense related to a company obligation to advance defense costs to former officers.

The price per share of Move Inc. stock closed the day on Thursday at $4.40, down 10 cents compared to the prior day’s closing price. The company was formerly called Homestore before a re-branding earlier this year.

Company officials said during an earnings presentation Thursday that a slower-than-expected move of the company’s data center from Southern California to Phoenix, Ariz., has delayed the rollout of some new features planned for the company’s Web sites. That data center move cost about $6 million in operating expenses this year.

Mike Long, CEO for Move, said that the company will now push ahead with new interactive mapping and search tools, cost-per-click advertising products and community pages.

Top Marketer, a series of marketing and lead-generation tools for real estate professionals that integrate with Move Inc.’s Top Producer product, now features a “market snapshot” for 120 markets across the country. This feature allows consumers who enter personal contact information to view reports that are base on multiple listing service data such as asking price vs. selling price for a market area and other information about recent home sales and active listings.

HomeInsight.com provides a portal to these market snapshots.

While the real estate market is slowing, that could serve as a catalyst for the company to become more profitable as companies shift advertising dollars online, Long said.

Move Inc. this month plans to launch a cost-per-click auction engine to drive more advertising at Move.com, Long said, and the company is also planning a self-service auction-based ad model in early 2007. The company’s new home and rental business is expected to pick up next year as a result, he said. “We’ve got a lot more content on the site but we don’t have an effective way to monetize it without that auction engine.”

Lew Belote, chief financial officer for Move Inc., said that Realtor.com revenue rose 19 percent in the third quarter compared to third-quarter 2005. For the first nine motnsh of the year the company has added over 600 broker customers who are paying for featured listings at Realtor.com, he said.

The company may realize year-over-year revenue growth of 20 percent in 2008, Long said, with EBITDA margins of 20 percent in 2007.

Belote said revenue is expected to decline in the fourth quarter compared to the third quarter, though it is expected to be more than 10 percent higher than in fourth-quarter 2005.

The company operates Move.com, Realtor.com, WelcomeWagon.com, Moving.com, TopProducer.com, SeniorHousingNet.com, FactoryBuiltHousing.com and HomePlans.com Web sites.

A replay of the third-quarter earnings conference call will be available online at http://investor.move.com. A telephone replay will be available from 4 p.m. Pacific Time until midnight on Nov. 9 at (888) 286-8010, conference ID 67192365.

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Send tips or a Letter to the Editor to glenn@inman.com or call (510) 658-9252, ext. 137.

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