Key Developments For Move Inc.
Move Inc. (MOVE.O) (Nasdaq)
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.
