Realogy cuts '09 loss to $262 million

Franchise giant lost $1.9 billion in 2008

Real estate franchise giant Realogy Corp. said net losses for 2009 totaled $262 million, as revenue fell by 17 percent from the year before, to $3.9 billion.

Cost-cutting measures allowed Realogy to cut its annual loss considerably from the $1.9 billion loss reported for 2008.

Realogy’s revenue picture also improved in the final three months of the year, with fourth-quarter revenue up 11 percent from the same period of 2008, the company said in announcing results for the year.