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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

marcus & millichap inc (MMI) Key Developments

Marcus & Millichap, Inc. Reports Unaudited Consolidated Earnings Results for Fourth Quarter and Year Ended December 31, 2013

Marcus & Millichap, Inc. reported unaudited consolidated earnings results for fourth quarter and earnings and operating results for the year ended December 31, 2013. For the quarter, the company’s total revenues were $149,101,000 against $147,638,000 a year ago. The increase in total revenues is a result of increases in other revenues, which include fees generated from consulting and advisory services performed by investment sales professionals, as well as referral fees from other real estate brokers. Operating loss was $8,165,000 against operating income of $22,967,000 a year ago. Loss before provision for income taxes was 8,006,000 against income before provision for income taxes of $23,076,000 a year ago. Net loss was $8,716,000 against $13,038,000 a year ago. Adjusted EBITDA was $24,487,000 against $27,283,000 a year ago. Adjusted net income was $13.6 million, excluding non-cash, stock-based and other compensation charges in connection with IPO of $22.3 million, net of related income tax benefits of $9.0 million, compared to $13.0 million net income in the same period last year. Net loss was primarily driven by the non-cash, stock-based and other compensation charges in connection with the IPO of $31.3 million and the related income tax benefits of $9.0 million for a net expense of $22.3 million. For the year, the company’s total revenues were $435,895,000 against $385,716,000 a year ago. Operating income was $21,286,000 against $49,008,000 a year ago. Income before provision for income taxes was $21,941,000 against $49,441,000 a year ago. Net income was $8,206,000 against $27,934,000 a year ago. Diluted earnings per share were $0.24 against $0.24 a year ago. Adjusted EBITDA was $61,286,000 against $59,708,000 a year ago. Adjusted net income was $30.5 million, excluding non-cash, stock-based and other compensation charges in connection with initial public offering of $22.3 million, net of related income tax benefits of $9.0 million, compared to $27.9 million in the same period last year. Net income decreased primarily due to the non-cash, stock-based and other compensation charges in connection with the IPO of $31.3 million and the related income tax benefits of $9.0 million for a net expense of $22.3 million.

Marcus & Millichap, Inc., Q4 2013 Earnings Call, Mar 11, 2014

Marcus & Millichap, Inc., Q4 2013 Earnings Call, Mar 11, 2014

Marcus & Millichap, Inc. to Report Q4, 2013 Results on Mar 11, 2014

Marcus & Millichap, Inc. announced that they will report Q4, 2013 results After-Market on Mar 11, 2014

Marcus & Millichap, Inc.(NYSE:MMI) added to Russell 2000 Index

Marcus & Millichap, Inc. will be added to Russell 2000 Index

Marcus & Millichap, Inc.(NYSE:MMI) added to Russell 3000 Index

Marcus & Millichap, Inc. will be added to Russell 3000 Index

 

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