Industry NewsTechnology

Move Inc. ekes out small profit operator focused on growth opportunities in 2012

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Take a deep real estate technology dive, Aug 7, 2017 operator Move Inc. managed to stay in the black during the third quarter even as revenue slipped 7.5 percent from a year ago, to $46.5 million. Move slashed operating expenses by 6.7 percent during the same period, helping it eke out $242,000 in net income for July, August and September.Most of the cost-cutting was in sales and marketing, down 12.6 percent from a year ago to $16.3 million, and product and website development, down 4.7 percent to $8.4 million. General and administrative expenses were essentially unchanged from a year ago at $10.8 million for the quarter.In reporting third-quarter results, Move issued guidance to investors saying it expects 2011 revenue to total $192 million, slightly less than the $197.5 million in revenue the company generated in 2010 but a drop of nearly 23 percent from $248.9 million in 2007.Move CEO Steve Berkowitz said the company will continue to focus on "opportunities for growth in 2012 and beyond," saying the real estate...