07.08.12
CBRE Group, Inc. (NYSE:CBG) today reported strong revenue and earnings growth for the second quarter ended June 30, 2012.• Revenue for the quarter totaled $1.6 billion, an increase of 13% from $1.4 billion in the second quarter of 2011.
• Excluding selected charges1, net income2 totaled $88.0 million, or $0.27 per diluted share, for the current quarter, up 31% and 29%, respectively, from $67.0 million, or $0.21 per diluted share, in the second quarter of 2011. Selected charges (net of income taxes), which primarily related to the ING REIM businesses acquired in 2011, totaled $12.1 million and $5.8 million for the three months ended June 30, 2012 and 2011, respectively.
• On a U.S. GAAP basis, net income totaled $75.9 million, or $0.23 per diluted share, for the second quarter of 2012, an increase of 24% and 21%, respectively, from $61.2 million, or $0.19 per diluted share, for the second quarter of 2011.
• Excluding selected charges, Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) 3 increased 28% to $220.9 million for the second quarter of 2012 from $172.4 million a year earlier. EBITDA3 (including selected charges) also rose 28% to $211.8 million for the second quarter of 2012, from $166.1 million for the same period last year. Selected charges, which primarily related to the acquisition of the ING REIM businesses in 2011, reduced EBITDA by $9.1 million and $6.3 million for the quarters ended June 30, 2012 and 2011, respectively.
