CB Richard Ellis Group, Inc. has reported third quarter 2005 revenue of $744.2 million, up 29.4% over the third quarter of 2004, and diluted earnings per share of $0.74 for the third quarter of 2005, compared with $0.16 in the third quarter of last year. Excluding one-time charges, third quarter 2005 diluted earnings per share was $0.75, an increase of 88% from $0.40 for the same quarter a year earlier.
Third quarter highlights
For the third quarter of 2005, the Company generated revenue of $744.2 million, a 29.4% increase over the $575.0 million posted in the third quarter of 2004. The Company reported third quarter net income of $56.9 million, or $0.74 per diluted share, compared with net income of $11.9 million, or $0.16 per diluted share in the third quarter of 2004.
Excluding one-time items, the Company would have earned net income of $57.5 million, or $0.75 per diluted share in the third quarter of 2005, compared with net income of $29.7 million, or $0.40 per diluted share in the third quarter of 2004.
Nine-month Results
Nine-month revenue increased by $387.7 million, or 24.7%, to $2.0 billion compared to the same period last year. The Company reported net income of $121.9 million, or $1.59 per diluted share, for the nine months ended September 30, 2005 compared with a net loss of $1.7 million, or a loss of $0.03 per diluted share, for the nine months ended September 30, 2004.
Excluding one-time items, the Company would have earned net income of $130.0 million, or $1.70 per diluted share, for the nine months ended September 30, 2005 compared to net income of $49.5 million, or $0.71 per diluted share, for the same period in the prior year.
EBITDA for the nine months ended September 30, 2005 was $267.9 million, representing an increase of $157.0 million, or 141.6%, from $110.9 million for the same period of 2004.
Source: CB Richard Ellis
