CB Richard Ellis Posts $66.4 Million in Profit

Los Angeles-based CB Richard Ellis Group Inc. reported fourth-quarter profit of $66.4 million, or 88 cents a share, contrasted with a loss of $10.1 million, or 16 cents, in the final quarter of 2003. The real estate services company generated revenue of $798.2 million, up 28.5% from a year earlier.

For the full year, the company reported a profit of $64.7 million, or 91 cents a share, contrasted with a net loss of $34.7 million, or 68 cents, for the previous year.

CB also revised its earnings-per-share guidance for 2005 upward to a range of $1.95 to $2.05 from a range of $1.80 to $1.90.

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Roger Vincent