Key Developments: Move Inc. (MOVE.O)
1.63USD
9 Feb 2010
$-0.01 (-0.61%)
$1.63
--
$1.68
$1.61
489,769
637,419
$3.18
$1.03
Latest Key Developments
Move Inc. Reaffirms Q4 2009 Revenue Guidance; Raises Top End Of Prior FY 2009 Revenue Guidance-Conference Call
Move Inc. reaffirmed fourth quarter 2009 guidance for revenue of about $47 to $48 million. For fiscal 2009, the Company now expects revenue of $184 to $193 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $48 million for the fourth quarter of 2009.
Move Inc. Issues Q4 2009, FY 2010 Revenue Guidance Below Analysts' Estimates; Comments On FY 2010 EBITDA Guidance
Move Inc. announced that for fourth quarter of 2009, it expects revenue to range between $47-$48 million, with an expected Adjusted EBITDA margin of approximately 9%-10%. For fiscal 2010, it expects revenue to range between $184 million and $192 million, with an expected Adjusted EBITDA target of approximately 10%. According to Reuters Estimates, analysts were expecting the Company to report revenues of $55 million for fourth quarter of 2009; revenues of $219 million and EBITDA of $26.61 million for fiscal 2010.
Constellation Software Inc. Acquires Enterprise And Homebuilder Web Development Group Assets From Move, Inc.
Constellation Software Inc. announced that it has completed, through its wholly owned subsidiary Constellation Homebuilders Systems (CHS), the acquisition of certain assets and liabilities of the Enterprise and the Homebuilder Web Development Group (The Enterprise) from Move Inc. Terms of the deal were not disclosed.
Move Inc. Announces Appointment Of Robert J. Krolik As Chief Financial Officer
Move Inc. announced the appointment of Robert J. Krolik as Chief Financial Officer, effective July 20, 2009. Krolik succeeds Move's Chief Financial Officer Lew Belote, who plans to assist with the transition through September 4, 2009.
South Florida Media Group Acquires Welcome Wagon Assets From Move, Inc.
Move Inc. announced that it has sold the assets and certain liabilities of Welcome Wagon to South Florida Media Group. Terms of the sale were not disclosed. The Company previously announced its intention to sell Welcome Wagon to better focus on its core online real estate business.
Move Inc. Announces Planned Departure Of Lewis R. Belote, III As Chief Financial Officer
Move Inc. announced that Lewis R. Belote, III, its Chief Financial Officer (CFO), will leave the Company later this year. Mr. Belote will continue in his current position as CFO until the company appoints a successor.
Move Inc. Announces Departure Of Lorna Borenstein As President
Move Inc. announced that Lorna Borenstein, the Company's current President, has decided to leave the Company effective March 13, 2009. Steven Berkowitz, who was named the Company's Chief Executive Officer on January 21, 2009, will assume responsibility for Ms. Borenstein's duties.
Move Inc. Names Steve Berkowitz As Chief Executive Officer
Move Inc. announced that Steven H. Berkowitz has been named as the Company's Chief Executive Officer, effective immediately. Mr. Berkowitz has served on Move's Board of Directors since June 2008. He succeeds W. Michael Long, who is retiring from the Company and the Board.
Move Inc. Prevails On Summary Judgment In Keithley Patent Case
Move Inc. announced that the district court judge, in a patent case pending in the U. S. District Court for the Northern California District, titled Keithley et al. v. The HomeStore.com, Inc. et al., granted the Company's motion for summary judgment in favor of Move, Inc., and its co-defendants the National Association of Realtors and the National Association of Home Builders. In the order, the district court judge found that all of the claims of U.S. Patent 5,684,025 asserted against the defendants by plaintiffs Kevin Keithley and TREN Technologies Holdings were either invalid or not infringed. The judge's order and granting of this motion for summary judgment is subject to appeal and thus the case has not been finally concluded.
Move Inc. Signs Agreement With MSN
Move Inc. announced that it has signed a new exclusive three year content distribution agreement with MSN. As a result, the more than 94.8 million(1) monthly MSN visitors will continue to have instant access to the largest online collection of resale homes, new homes, and rentals at Move.com and Move-operated REALTOR.com. This new agreement replaces an existing agreement signed by the two leaders in 2003.
Move Inc Q3 results
MOVE INC : * Third quarter loss per share $0.03 * Third quarter revenue $75.6 million * Reuters Estimates third quarter earnings per share view $-0.01, revenue view $74.48 million
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
