LoopNet Inc., an online listing service for commercial real estate, said Tuesday its fourth-quarter profit jumped 7 percent as revenue increased.
The company earned $5.3 million, or 14 cents per share, up from a profit of $5.3 million, or 13 cents per share, a year earlier.
Revenue rose 41 percent to $19.6 million from $13.8 million.
Analysts, on average, were expecting a profit of 12 cents per share on sales of $19.1 million, according to a poll by Thomson Financial.
The company said the number of its registered members jumped during the quarter.
For the full year, LoopNet earned $21.1 million, or 52 cents per share, up from $15.5 million, or 40 cents per share, a year earlier.
Revenue rose 46 percent to $70.7 million from $48.4 million.
The company forecast first-quarter earnings of 11 to 12 cents per share on sales of $20.1 million to $20.3 million.
Analysts predict a profit of 14 cents per share on sales of $20.2 million.
The company also approved a repurchase program of up to $50 million of its shares and named Thomas P. Byrne president and chief operating officer in a newly created post.
Shares fell 72 cents, or 5.1 percent, to $13.50 in after-hours trading. The stock had closed down $1.01, or 6.6 percent, at $14.22.
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