Brokerage ZipRealty’s Loss Less Than Expected
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Discount brokerage ZipRealty Inc. reported a narrower-than-expected loss in the first quarter as revenue rose 8%.
The Emeryville, Calif.-based company said its net loss was $800,000, or 4 cents a share, contrasted with a profit of $700,000, or 3 cents, a year earlier. It had projected a loss of 17 cents to 22 cents. Revenue was $19.2 million.
During the first quarter, the company opened offices in Houston and Tampa, Fla. Expansion helped ZipRealty’s transaction volume, which rose 13% to 2,638 in the period.
* Fluor Corp.’s first-quarter profit rose 88% to $88.9 million, or $1 a share, the company said. Sales rose 27% to $765 million.
* Six Flags Inc.’s first-quarter loss widened to $241 million, or $2.63 a share, from $178.7 million, or $1.98, a year earlier. Sales fell 14% to $42.7 million.
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