CB Richard Ellis Group, Inc. Reports GAAP EPS of $.04

CB Richard Ellis Group, Inc. CBG today reported strong earnings and revenue growth for the third quarter ended September 30, 2010.

• Net income on a U.S. GAAP basis improved 361% to $57.0 million, or $0.18 per diluted share, for the third quarter, compared with $12.4 million, or $0.04 per diluted share, for the third quarter of 2009.
• Excluding selected charges¹, net income² would have totaled $62.4 million, or $0.20 per diluted share, for the current-year quarter, compared with net income of $21.6 million, or $0.08 per diluted share, in the third quarter of 2009.
• Earnings Before Interest Taxes Depreciation and Amortization (EBITDA)³ rose 73% to $169.9 million for the third quarter of 2010 from $98.1 million a year earlier. Excluding selected charges, EBITDA³ rose 60% to $175.5 million in the current period from $109.9 million in the third quarter of 2009.
• Revenue for the quarter totaled $1.3 billion, an increase of 24% from $1.0 billion in the third quarter of 2009. This represents the strongest year-over-year quarterly revenue growth since the fourth quarter of 2007.