CB Richard Ellis 3Q adjusted earnings miss Wall Street estimate |
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Mon, 29 Oct 2007 23:04
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SAN FRANCISCO (Thomson Financial) - CB Richard Ellis Group Inc. late Monday reported third-quarter adjusted earnings of $130.2 million, or 55 cents a share, missing the consensus estimate of analysts polled by Thomson Financial of 57 cents.During the year earlier period, adjusted earnings, which exclude one-time items, were $94.5 million, or 40 cents a share.The El Segundo, Calif.-based commercial real estate services firm posted net earnings of $114.9 million, or 48 cents a share, up from $92.3 million, or 39 cents a share, last year.Revenue came in at $1.49 billion, ahead of the consensus estimate of $1.44 billion.Last year, revenue was $967.9 million.Additionally, CB Richard Ellis said it's maintaining its outlook for 2007 of per-share earnings growth of about 50% as compared with 2006, excludingone-time items.The stock closed out the regular session up more than 3% at $26.74.Katherine Huntkh/gmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Singapore Q3 office rents rise to record levels in Q3 - CB Richard Ellis 