Koll Management Earnings Rise in Fiscal Second Quarter
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Koll Management Services Inc., a Newport Beach property management firm, said it earned $638,000 in its second quarter ending Sept. 30, up from $495,000 during the same quarter last year.
Earnings per share rose to 21 cents, from 19 cents, after a 17% increase in the number of shares outstanding.
Revenue rose to $6.8 million during the quarter, from $5.4 million last year. Koll bought four property management companies in Texas and the Midwest during the year, and most of the increase is attributable to that, the company said Tuesday.
For the first half of its fiscal year, Koll earned $1.2 million, or 42 cents a share, up from $950,000, or 36 cents a share, in the first half of last year.
Revenue was $13.3 million, compared to $10 million for the year-earlier period.
Koll Management is a unit of Newport Beach’s privately held Koll Co., one of the nation’s largest developers.
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