Market Leader(R) Grows Revenue 32%
Second Consecutive Year of 30%+ Growth; With Similar Growth Expected in 2013
(firmenpresse) - KIRKLAND, WA -- (Marketwire) -- 02/27/13 -- Market Leader, Inc. (NASDAQ: LEDR) today announced continued growth, financial and operational progress for the fourth quarter and year ended December 31, 2012.
Revenue increased 32% to $45 million from $34 million in 2011; quarterly revenue increased 27% to $12 million compared with the fourth quarter of 2011
Net loss for the year decreased to $7.8 million from $14.2 million in 2011; quarterly net loss decreased to $1.2 million from $4.1 million compared with the fourth quarter of 2011
Adjusted EBITDA increased to a positive $1.7 million in 2012, up $9.0 million from an Adjusted EBITDA loss of $7.3 million in 2011; quarterly Adjusted EBITDA increased to a positive $0.9 million compared with an Adjusted EBITDA loss of $0.8 million in the fourth quarter of 2011
Cash, cash equivalents and short-term investments totaled $22.2 million at the end of 2012
"2012 marked a major milestone for Market Leader, as we achieved our second consecutive year of more than 30% revenue growth," said CEO Ian Morris. "We continue to be very bullish about the opportunity in front of us, and we expect to achieve similar growth in 2013."
Market Leader's revenue growth has been driven in part by the success that customers are seeing with its software as a service (SaaS) based products. During 2012, Market Leader extended its sizable leadership in real estate software by making numerous enhancements to its already comprehensive SaaS platform. These significant enhancements include the integration of the industry's leading email and print marketing suite with its software platform, providing real estate professionals with a single, fully integrated and comprehensive solution that includes everything they need to grow and manage their businesses.
Market Leader's software leadership serves as the cornerstone of its strategy focused on establishing deep, long-term relationships with real estate professionals. Over the past two years, Market Leader has increased its customer base from less than 20,000 agents, to nearly 125,000. This strong growth began with the signing and rollout of the company's first national enterprise partner in 2011 and the success from this partnership has attracted the attention of other national franchises.
During 2012, Market Leader signed two more enterprise-wide agreements with two of the nation's leading real estate franchise companies. These new enterprise partnerships are expected to extend Market Leader's already unmatched access to real estate professionals.
Together with the company's social media network -- the largest of its kind in real estate with more than 330,000 professional members -- these partnerships give Market Leader access to more than one out of every three real estate professionals in North America and a unique competitive advantage that creates a low cost distribution channel for the company's premium services.
Market Leader is in the early stages of monetizing this unique advantage, and expects that increasing its share of the nearly $24 billion that is spent on real estate marketing and technology services each year will be a significant source of continued and predictable growth for years to come. Of this large market, Market Leader's current product offerings are focused on the $11 billion that is spent by residential real estate professionals.
Market Leader estimates that it currently captures only a small portion of what's spent on these services by the nearly 125,000 customers already using the company's software platform to run their businesses. Market Leader provides its customers with the opportunity to enhance their software by upgrading to its premium products and services with just one click, and the company's recent growth demonstrates that its share of these dollars is growing, and it fully expects this to be a continued source of growth.
Market Leader is seeing strong sales of its software and marketing products due to both the effectiveness of these solutions as well as improving real estate market conditions. Market Leader recently conducted a survey of the 330,000 members of its social media network to get their perspective on local market conditions and found that 84% expect their local markets to improve in 2013, both in terms of transactions and in terms of home prices. In fact, according to REAL Trends, existing homes sales for 2013 are projected to be at the highest level since 2006.
This renewed optimism is motivating agents and brokers to invest more in the tools that will help them grow their businesses, a trend that Market Leader expects will help drive increased sales and penetration of its premium products.
The company will host a conference call and live Webcast to discuss fourth quarter and 2012 annual results on Wednesday, February 27, 2013 at 4:30 p.m. Eastern time. To listen to the live conference call, please dial (719) 457-2661. A live Webcast of the call will be available from the Investor Relations section of the company's Web site at . An audio replay of the call will also be available to investors beginning on February 27 at 7:30 p.m. Eastern time and ending on March 4 at 7:30 p.m. Eastern time by dialing (719) 457-0820 and entering the passcode 7746789#.
Market Leader, founded in 1999, provides innovative online technology and marketing solutions for real estate professionals across the United States and Canada. The company serves nearly 125,000 real estate agents, brokerages and franchisors, offering complete end-to-end solutions that enable them to grow and manage their businesses. Market Leader's subscription-based real estate marketing software -- including websites, contact management, a marketing center, and lead generation services -- helps customers generate a steady stream of prospects, and provides the systems and training they need to convert those prospects into clients. In addition, the company's national consumer real estate sites, including , give its customers access to millions of future home buyers and sellers, while providing consumers with free access to the information they seek.
For more information on Market Leader visit .
This release contains forward-looking statements relating to the company's anticipated plans, products, services, and financial performance. The words "believe," "expect," "anticipate," "intend" and similar expressions identify forward-looking statements, but their absence does not mean the statement is not forward-looking. These statements and, specifically, statements or predictions about the company's potential market, product development plans, and future financial performance, are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could affect the company's actual results include its ability to retain and increase its customer base, including enterprise customers and real estate professionals, to sell premium products to real estate professionals associated with enterprise customers, to continue to grow revenues, to respond to competitive threats and real estate market conditions, to develop new products, and to develop new revenue sources from its RealEstate.com assets. Please refer to the company's most recent Form 10-K filed with the Securities and Exchange Commission for a more detailed description of these and other risks that could materially affect actual results. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements are made as of today's date and the company assumes no obligation to update any such statements to reflect events or circumstances after the date hereof.
Adjusted EBITDA is a non-GAAP financial measure provided as a complement to results in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Adjusted EBITDA is not a substitute for measures determined in accordance with GAAP, and may not be comparable to Adjusted EBITDA as reported by other companies. Our use of the term "Adjusted EBITDA" refers to a financial measure defined as earnings or loss before net interest, income taxes, depreciation, amortization, net loss attributable to non-controlling interest, and stock-based compensation. We believe Adjusted EBITDA to be relevant and useful information to our investors as this measure is an integral part of our internal management reporting and planning process and is the primary measure used by our management to evaluate operating performance. Following is the reconciliation of net loss, the most comparable GAAP measure, to Adjusted EBITDA, for each of the periods presented (in thousands, unaudited):
Mark Lamb
Director of Investor Relations
Market Leader, Inc.
425.952.5801
PondelWilkinson Inc.
Roger Pondel/Laurie Berman
310.279.5980
Matt Heinz
Heinz Marketing for Market Leader, Inc.
877.291.0006
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Datum: 27.02.2013 - 21:00 Uhr
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