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Re/Max reports growing agent count, operating income in Q1

The company reported a 6.8-percent year-over-year growth in agent count
  • Re/Max reported a 6.8-percent year-over-year growth in agent count for the first quarter of 2016.
  • The company's operating income was boosted by 3.5 percent to $15.9 million.
  • Its revenue decreased 2.9 percent year-over-year to $42.9 million.

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Re/Max reported a 6.8-percent year-over-year growth in agent count for the first quarter of 2016, and the company's operating income was boosted by 3.5 percent to $15.9 million -- but it reported that its revenue decreased 2.9 percent year-over-year to $42.9 million. [Tweet "Re/Max reported a 6.8-percent year-over-year growth in agent count for Q1 2016."] "Revenue would have increased 4.7 percent after adjusting for the sale of the Company-owned brokerage office," wrote the company in a press release. And despite that revenue dip, the company's operating expenses were also lower ($27.1 million, a decrease of $1.8 million), reporting $10.4 million in net income. The revenue came from: Continuing franchise fees, $18.9 million, an increase of $1.2 million or 7.1 percent, up primarily due to agent count growth. Annual dues, $7.9 million, up $0.1 million or 1.3 percent compared to the first quarter 2015, primarily due to increased agent count growth. Broker fees, $7....