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Article: LoopNet Achieves Full Year GAAP Profitability as Membership, Site Traffic and User Activity Soar; Revenue Growth of 50% for 2003.
- Article from:
- PR Newswire
- Article date:
- January 28, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO, Jan. 28 /PRNewswire/ -- LoopNet, Inc., a leading information services provider that operates the largest and most heavily trafficked commercial real estate listing service online, reported today that the company achieved GAAP profitability and positive cash flow for calendar year 2003. LoopNet's revenue for 2003 increased 50% over the prior year. The company also reported that fourth quarter 2003 marked the third consecutive quarter of GAAP profitability and the fourth consecutive quarter of positive cash flow.
"We are very excited about the numerous milestones that our company achieved during 2003," said Richard Boyle, LoopNet President and ...