Marcus & Millichap Inc. reported on Thursday soaring third quarter revenue, as the company enjoyed a rebounding real estate market.
The Calabasas commercial real estate brokerage reported net income of $13.5 million (35 cents a share) for the quarter ended Sept. 30, compared with $7.3 million the same period a year earlier, prior to going public. Revenue rose nearly 35 percent to $151 million.
No analyst estimates are available for the company’s earnings.
“We experienced solid increases in our core, private-client multifamily and retail business during the quarter,” said Chief Executive John Kerin, in a statement. “Looking ahead, we believe there are further opportunities inherent in our business model and growth plan and we remain focused on driving shareholder value.”
The company reported total sales volume rose 63 percent to $9.9 billion. Revenue from brokerage commissions rose 38 percent to $140 million.
The company went public in an Oct. 31 IPO that raised $72 million at a share price of $12, which has risen steadily.
Shares closed up 8 cents, or a fraction of a percent, to $32.37 on the New York Stock Exchange.
Capstone Turbine Co. posted fiscal second-quarter earnings on Thursday that fell short of analysts’ estimates.
The Chatsworth micro-turbine manufacturer reported a net loss of $6.5 million (-2 cents a share) for the quarter ended Sept. 30, compared with a net loss of $3.9 million (-1 cent) in the same period a year earlier. Revenue fell by 9 percent to $32.2 million.
Analysts on average expected a net loss of -1 cent on revenue of $36.8 million, according to Thomson Financial Network.
Chief Executive Darren Jamison anticipates a better second half of the fiscal year as those quarters have historically been stronger for the company.
“Backlog remains high, which is a key leading indicator of future revenue,” Jamison said in a prepared statement.
Shares closed down 6 cents, or almost 6 percent, to 96 cents on the Nasdaq.
Netsol Technologies reported on Thursday a wider loss in the fiscal first quarter, yet still beat analysts’ estimates.
The Calabasas company, which makes vehicle lease-management software for auto dealers and lenders, reported a net loss of $1.8 million (-20 cents a share) for the quarter ended Sept. 30, compared with a net loss of $1.1 million (-12 cents) in the same period a year earlier. Revenue increased 15 percent to $10.2 million.
Analysts on average expected a net loss of -39 cents on revenue of $9 million, according to Thomson Financial Network.
Chief Executive Najeeb Ghauri said the company was in the early stages of returning to growth, particularly with $16 million in new contracts for its NFS Ascent software with an unnamed Asian customer.
“The transformative investments we have made over the past few years are beginning to show results, allowing us to implement (products) at a faster rate than in the past,” Ghauri said.
Shares closed up 5 cents, or less than 2 percent, to $3.22 on the Nasdaq.