LoopNet achieves profitability in 2Q. (Technology Update).LoopNet, Inc. reported that it has achieved GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). profitability for the second quarter of 2003. Additionally, LoopNet reported its third consecutive quarter of positive 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 results and its second consecutive quarter of positive cash flow. The company expects to maintain GAAP profitability for the remainder of 2003. "LoopNet has delivered on its promise to our investors, clients and employees to reach profitability," said Richard Boyle Richard Boyle may be:
People named Alexa:
LoopNet Premium Membership, the company's core product and a driver of significant revenue growth, provides commercial real estate brokers, owners, investors and other professionals with advanced marketing, searching and reporting tools that allow them to market their properties more widely and cost effectively; identify new property opportunities quickly and easily; and measure the results. Other key operating statistics achieved during the second quarter of 2003 include: * LoopNet.com continues to be the #1 most heavily trafficked commercial real estate web site (ranked by Alexa, an Amazon.com (Amazon.com, Seattle, WA, www.amazon.com) The largest online shopping site and one of the most widely known e-commerce sites on the Web. Founded by Jeff Bezos in 1995, it had 11 employees by year's end. Within four years, it had more than 1,600 employees and four million customers. affiliate Affiliate Relationship between two companies when one company owns substantial interest, but less than a majority of the voting stock of another company, or when two companies are both subsidiaries of a third company. See: Subsidiaries, parent company. ) * Registered members surpass 385,000 * Registered commercial real estate principals surpass 100,000 * For-sale listings surpass aggregate consideration value of $125 billion * For-lease listings surpass aggregate square footage available of 2.2 billion SF * Property listings returned in search results exceed 25 million monthly |
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