Realtor.com operator Move Inc. posted $70,000 in net income during the fourth quarter of 2013 — a 96 percent drop from the year before — despite growing revenue by 7 percent to $56.5 million.

For the year as a whole, Move’s net income fell 90 percent, to $574,000, down from $5.63 million in 2012. Revenue for the year was up 14 percent from 2012, to $227 million.

In its reports to investors, Move emphasizes adjusted earnings before interest, tax, depreciation and amortization (EBITDA), which stood at $7.7 million in the fourth quarter, nearly flat from $7.8 million in fourth-quarter 2012.

The company said it expects first-quarter revenue to come in at about $58 million, with adjusted EBITDA of about $5 million.

Consumer advertising made up the biggest share of revenue for the company during the last three months of 2013, rising 6 percent from a year ago to $43.5 million. But software and services revenue grew faster, rising 12 percent to $12.9 million.

Sales and marketing costs, which stood at $22.4 million in the fourth quarter, were up 14.5 percent from a year ago, when the company spent $19. 6 million. For 2013 as a whole, the company boosted its sales and marketing spending by 19.9 percent, to $90 million.

The company expanded its online audience by 13 percent from a year ago, to 23.9 million average monthly unique users of its Web and mobile sites.

Source: sec.gov.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top