Thursday, March 10, 2005
Homestore Back In Black
Westlake Village-based Homestore released its earnings yesterday, and has finally turned a quarterly profit after two years of losses. The company reported it earned $6.0M on revenues of $54.3M in Q4, although the company still lost $7.9M on 2004 earnings of $216.9M. The Q4 gain included gains from two software businesses the company sold during the quarter. The company had $59.9M in cash on hand at the end of Q4. Homestore provides services to Realtors and other real estate and home related web sites.