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.
