CoStar Group, Inc. Announces Fourth Quarter And Full-Year 2010 Results
WASHINGTON, Feb. 23, 2011 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), commercial real estate's leading provider of information, analytic and marketing services, announced that revenues for the year ended December 31, 2010 were $226.3 million, an increase of approximately 8% over revenues of $209.7 million for the full year of 2009. Revenues for the fourth quarter of 2010 totaled $58.2 million, an increase of $3.6 million compared to revenue of $54.6 million in the fourth quarter of 2009.
Net income for the quarter ended December 31, 2010 increased to $3.8 million, or $0.18 per diluted share, compared to net income of $3.4 million, or $0.16 per diluted share, for the quarter ended September 30, 2010. EBITDA (defined below) for the quarter ended December 31, 2010 increased to $10.4 million, compared to EBITDA of $9.4 million for the quarter ended September 30, 2010.
As of December 31, 2010, the Company had $239 million in cash, cash equivalents, short-term and long-term investments, which is an increase of $7.3 million since September 30, 2010. The Company has no long-term debt. Following the sale of its headquarters on February 18, 2011, the Company's cash and investments exceed $320 million.
| Year 2009-2010 Quarterly Results-Unaudited | ||||||||
| (in millions, except per share data) | ||||||||
| 2009 | 2010 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Revenues | $ 51.4 | $ 50.1 | $ 53.6 | $ 54.6 | $ 55.1 | $ 55.8 | $ 57.1 | $ 58.2 |
| EBITDA | 14.4 | 11.6 | 10.6 | 9.9 | 8.8 | 7.8 | 9.4 | 10.4 |
| Net income | 6.1 | 4.6 | 4.3 | 3.6 | 2.9 | 3.3 | 3.4 | 3.8 |
| Net income per share - diluted | 0.31 | 0.24 | 0.22 | 0.18 | 0.14 | 0.16 | 0.16 | 0.18 |
| Weighted average outstanding shares - diluted | 19.6 | 19.6 | 20.1 | 20.4 | 20.6 | 20.6 | 20.7 | 20.9 |
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