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| CB Richard Ellis reports 2Q 2009 financial results Los Angeles-based CB Richard Ellis, the world's largest commercial real estate services firm, reported adjusted earnings per share of $0.04 for the second quarter of 2009 on revenue of $955.7 million. On a U.S. GAAP basis, the сompany reported a net loss for the quarter of $6.6 million, or $0.02 per diluted share. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the second quarter totaled $68.4 million, which was adversely impacted by the inclusion of $22.5 million of one-time charges. These results compared with second-quarter 2008 revenue of $1.3 billion; net income of $16.6 million, or $0.08 per diluted share, on a U.S. GAAP basis; adjusted net income (excluding one-time charges) of $33.2 million, or $0.16 per diluted share; and EBITDA of $99.0 million. Second-quarter 2008 EBITDA included $15.5 million of one-time charges. Despite continued weakness in sales and leasing markets globally, second-quarter 2009 results showed better quarter-over-quarter performance than the quarter-over-quarter performance for the first quarter of 2009. Specifically, the second-quarter 2009 EBITDA margin, excluding one-time charges, was 9.5%, versus 8.7% for the same period in the prior year, despite considerably lower revenue. write your comments about the article :: © 2009 Construction News :: home page |