Insignia Financial Group Inc. releases third quarter results.Insignia in·sig·ni·a also in·sig·ne n. pl. insignia or in·sig·ni·as 1. A badge of office, rank, membership, or nationality; an emblem. 2. A distinguishing sign. Financial Group, Inc., a leading provider of international real estate and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , reported results from operations for the quarter and the nine months ended Sept. 30. For the third quarter of 2002, the company reported income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $4.1 million ($0.14 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share), an improvement from a loss of $5.4 million ($0.25 loss per diluted share) in the third quarter of 2001. For the third quarter of 2002, Net EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become (1) was $13 million ($0.50 per diluted share), up 271% from $3.5 million ($0.14 per diluted share) in the third quarter of 2001, a period when results were negatively impacted to a severe degree by the Sept. 11 terrorist attacks. The company's third quarter 2002 results continue a pattern of steady improvement throughout the year. Net EBITDA totaled $12.3 million for the second quarter of 2002 and $6 million for the first quarter of 2002. The company also announced that, after the end of the quarter, it paid down $22 million of its debt, bringing its outstanding balance under its senior credit facility below $100 million. Third quarter 2002 results were highlighted by very strong year-over-year performance in Europe, especially the United Kingdom, where a strong investment market and Insignia Richard Ellis' market-leading position fueled a 195% EBITDA gain over the third quarter of 2001. The company's residential sales and brokerage unit, Insignia Douglas Elliman, has benefited from continued strength in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of co-op and condo sales market, albeit at a slower pace compared with the first two quarters of 2002. The Company's U.S. commercial real estate services business, Insignia/ESG, continues to face soft markets, but benefited from the stronger relative performance of its flagship New York operation and expense containment containment Strategic U.S. foreign policy of the late 1940s and early 1950s intended to check the expansionist designs of the Soviet Union through economic, military, diplomatic, and political means. It was conceived by George Kennan soon after World War II. measures. For the third quarter of 2002, EBITDA for Insignia/ESG increased to $7.5 million, up from $2.9 million in the same period for 2001. Total real estate service revenues for the third quarter of 2002 were $187.8 million, a 28% increase from the $146.3 million for the same period in 2001. The increase is attributable, in part, to the $11.5 million in contributions from the Company's French business unit, Insignia Bourdais, which was acquired in late December 2001, as well as a 37% increase in Insignia Richard Ellis There are several prominent people named Richard Ellis, including
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