WASHINGTON, July 24, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the primary provider of websites for commercial real estate information, analytics and marketing services, announced today that revenue for the second quarter of 2013 climbed to $109.0 million versus $85.2 million in the second quarter of 2012, which represents an increase of 28% year-over-year.
EBITDA in the second quarter of 2013 increased to $25.3 million compared to $8.2 million in the second quarter of 2012. This represents an increase of $17.1 million or 209% year-over-year. EBITDA margin rose to 23% for the second quarter of 2013, which is a 141% increase year-over-year.
"Net new sales in the second quarter grew 49% year-over-year leading us to our best sales, revenue and EBITDA results ever," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar. "Cross-selling between our CoStar and LoopNet client bases continues to gain momentum with total revenue synergies now reaching approximately $27.3 million, a 48% increase from last quarter. Record net new sales in the United Kingdom following the release of CoStarGo and CoStar Suite in the U.K. also contributed to our best ever quarter."
|Year 2012-2013 Quarterly Results - Unaudited|
|(in millions, except per share data)|
|Net income (loss)||5.1||(6.7)||6.8||4.7||(2.4)||8.3|
|Net income (loss) per share - diluted||0.20||(0.25)||0.24||0.17||(0.09)||0.29|
|Weighted average outstanding shares - diluted||25.5||26.5||27.7||27.7||27.4||28.2|
|Non-GAAP Net Income||8.2||10.5||13.1||12.6||13.0||17.2|
|Non-GAAP Net Income per share - diluted||0.32||0.39||0.47||0.46||0.47||0.61|
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