04.05.10
Revenue rises 15% to $1.0 billion Revenue for the quarter totaled $1.0 billion, an increase of 15% from $890.4 million in the first quarter of 2009. The company reported a net loss of $6.6 million, or $0.02 per diluted per share, in the first quarter of 2010, compared with a net loss of $36.7 million, or $0.14 per diluted share, in the first quarter of 2009. Excluding selected charges, net income would have totaled $3.2 million, or $0.01 per diluted share, for the current-year quarter.
Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) nearly doubled to $75.0 million in the first quarter of 2010 from $38.4 million a year earlier.
Globally, property sales revenue increased 51% in the first quarter of 2010 compared with the depressed levels of the first quarter of 2009, and leasing revenue rose 23% in this time period. All global regions posted double-digit percentage increases in both sales and leasing. Asia Pacific, driven by especially strong improvement in Australia and New Zealand, saw sales revenue in the first quarter of 2010 rise 123% from a year earlier. Europe achieved a 25% increase in leasing revenue in the first quarter of 2010, primarily driven by growth in the United Kingdom and France. The Americas also posted substantial increases in both sales and leasing.