Posts Tagged ‘business services’

Zillow Inc. (Z) stock climbs on quarterly numbers

Thursday, August 25th, 2011

Zillow Inc. (Nasdaq: Z) shares gained 19.9% to $31.49, a day after the online real-estate information provider reported its first quarterly financial results since going public in late July. Volume for the stock came in at 436,000 shares, just nosing out its full-day average.

A news release posted August 24 reported quarterly revenues increased 116% to $15.8 million from $7.3 million in the second quarter of 2010.

Marketplace revenues increased 269% to $9.7 million from $2.6 million in the second quarter of 2010. Display revenues increased 30% to $6.1 million from $4.7 million in the second quarter of 2010.

GAAP net income for the second quarter 2011 was $1.6 million, compared to a net loss of $2.0 million in the same period a year ago and a net loss of $0.8 million in the first quarter of 2011.

Said CEO Spencer Rascoff in the same piece, “The second quarter was outstanding for Zillow® with record revenues, traffic and mobile usage. It marks our first profitable quarter on a GAAP net income basis and our fourth consecutive profitable quarter on an Adjusted EBITDA basis. We’re extremely pleased with our progress and rapid growth, yet we believe we’ve only scratched the surface of our opportunity.”

The Seattle-based Zillow calls itself the leading real estate information marketplace, providing vital information about homes, real estate listings and mortgages through its website and mobile applications, enabling homeowners, buyers, sellers and renters to connect with real estate and mortgage professionals best suited to meet their needs.

Emdeon Inc. (EM) continues to prospers on takeover by Blackstone

Monday, August 8th, 2011

Late last week, Emdeon Inc. (NYSE: EM) shares climbed13.5% to $18.44 after the healthcare information-technology provider agreed to be bought by private-equity firm Blackstone Group. Opening the week today, Emdeon share prices have relented slightly, still hovering over the $17.00 mark.

A news release published early August 4 said the Nashville-based Emdeon, a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, had entered into a definitive merger agreement with Blackstone, under which this Blackstone fund will acquire a controlling interest in Emdeon in a transaction valued at approximately $3 billion that will result in Emdeon becoming a private company. Hellman Friedman will maintain a significant minority equity interest in Emdeon.

Under the terms of the merger agreement, holders of Emdeon common stock will receive $19.00 per share in cash. Emdeon’s Board of Directors has unanimously approved the merger agreement and is recommending that Emdeon’s stockholders adopt the merger agreement.

Emdeon CEO George Lazenby was quoted in the release as saying, “This transaction provides for a great return for our investors. We are excited about the opportunity to move forward with two excellent investors in Blackstone and Hellman Friedman. They each have an in-depth understanding of our business and industry, and will be tremendous partners as we continue to pursue our strategy of making healthcare efficient.

Lazenby concluded, “We are looking forward to building upon our leadership position in healthcare information technology and services, made possible by the continued support of our customers and the dedication and commitment of our employees.”

Emdeon is a leading provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the system. Emdeon’s product and service offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter. Group Inc. (WWWW) goes buying, stock rockets

Thursday, August 4th, 2011 Group Inc. (Nasdaq: WWWW) shares got 31.4% worth of lift to $11.38 late Thursday morning, on Q2 results and acquisition news. Volume for the stock topped 1.4 million shares, compared with a daily average of 421,000.

A Reuters story out August 4 reported that the e-commerce company agreed to buy website services provider Network Solutions to fuel growth, and posted quarterly profit above estimates.

The story also noted that, which provides web marketing products to small businesses, said purchasing Network Solutions would triple its customer base to about three million subscribers and give significant cross-sell and up-sell opportunities., based in Jacksonville, Florida will pay $405 million in cash, issue 18 million common shares and refinance Network Solutions’ net debt.

Second-quarter profit was helped by a 73% surge in its subscription revenue.

Robert Half International Inc. (RHI) posts strong earnings, stock hikes

Thursday, July 21st, 2011

Robert Half International Inc. (NYSE: RHI) shares surged 15.8% to $29.91 Thursday on strong quarterly earnings. Volume for the stock closed in on five million shares, or better than triple its daily average.

The staffing solutions company, based out of Menlo Park, Calif., put out a press release July 20 stating that, for the quarter ended June 30, 2011, net income was $36.4 million or $.25 per share, on revenues of $938.0 million. Net income for the prior year’s second quarter was $12.2 million or $.08 per share, on revenues of $769.1 million.

Robert Half CEO Harold Messmer Jr., was quoted in the release as saying, “This is the fifth consecutive quarter we have reported accelerating year-over-year growth rates for our consolidated revenues. Second-quarter revenues increased 22% from one year ago, and second-quarter income per share tripled from the year-ago period.

Messmer continued, “We saw broad-based, improving demand for our professional staffing services and Protiviti both in North America and abroad. Our permanent placement and technology staffing divisions were particularly strong. The pricing environment also continued to improve during the quarter, which contributed to higher gross margins.”

Founded in 1948, Robert Half International Inc., the world’s first and largest specialized staffing firm, is a recognized leader in professional consulting and staffing services.

SFN Group Inc. (SFN) being taken over, stock zooms

Thursday, July 21st, 2011

SFN Group Inc. (NYSE: SFN) shares shot up 51% to $13.93. Late Wednesday, the staffing-services provider and Dutch company Randstad Holding NV said the latter would acquire the former for about $770 million. Volume on SFN was 12.4 million shares, contrasted with a daily average of less than 570,000.

As a result of the acquisition, announced in a news release Wednesday, Randstad will become the third-largest HR services provider in North America, doubling its presence in the U.S. and reinforcing its leading position in Canada. Randstad and SFN Group have a comparable service offering in North America and a complementary geographic coverage, which creates a unique strategic fit.

In North America, the combination will have revenues of $4.6 billion (pro forma, LTM March 31, 2011) of which 39% in Professionals, 52% in Staffing and 9% in HR Solutions (Payrolling, Managed Services and Recruitment Process Outsourcing).

This represents under 5% of the highly fragmented North American HR Services market. The combination will have over 5,000 employees and operate from over 1,000 outlets. As a result of the transaction, the Randstad Group will have combined revenues of approximately $22 billion/ euro 17 billion (pro forma, LTM March 31, 2011).

SFN CEO Roy Krause was quoted in the release as saying, “The executive management and I are confident that the combination of our two companies is a strong strategic fit that will not only deliver expanded service offerings for our clients in North America, but also creates opportunities to service them on a global basis.”

“Both companies have complementary cultures and values which will provide growth opportunities for our staff associates.” Krause concluded.