Real estate marketing and technology company Market Leader announced this week a net income of $1.4 million in the fourth quarter compared with a net loss of $2.9 million in the third quarter; though the net income owes mainly to a $4.8 million income tax benefit in the fourth quarter, the company said.
Revenue from its Vision subscription software platform doubled in the fourth quarter of 2009, compared to the same quarter in 2008, according to the company’s year-end results.
Vision’s contact management software made up more than half (52 percent) of the company’s $5.6 million in revenue in the fourth quarter, fulfilling a company goal. Revenue in the fourth quarter dipped a bit compared to the third quarter, when it was $5.8 million.
Declines in the company’s traditional products eclipsed its growth in its Vision platform — the company reported a net loss of $7.4 million for 2009. That figure is down from a $13.1 million net loss in 2008.
"These results represent a significant moderation in the revenue declines that the company has seen since the start of this prolonged industry downturn," the company said in a statement.
2009 revenue totaled $23.9 million, compared with $38.4 million in 2008, and the company’s cash, cash-equivalents and short-term investments totaled $51.4 million at the end of the year, the company said.
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