REALOGY HOLDINGS (RLGY) has reported 3.64 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $106 million, or $0.73 a share in the quarter, compared with $110 million, or $0.74 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $108 million, or $0.74 a share compared with $111 million or $0.75 a share, a year ago.
Revenue during the quarter went down marginally by 1.44 percent to $1,644 million from $1,668 million in the previous year period.
Total expenses were stable at $1,432 million, when compared with the previous year period. Operating margin for the quarter contracted 125 basis points over the previous year period to 12.90 percent.
Operating income for the quarter was $212 million, compared with $236 million in the previous year period.
Revenue from real estate activities during the quarter increased 8.16 percent or $4 million to $53 million.
Revenue from other real estate activities during the quarter was $53 million, up 8.16 percent or $4 million from year-ago period.
Other income during the quarter was $107 million, up 3.88 percent or $4 million from year-ago period.
"While our third quarter results reflect continued pressure on NRT as expected, we have moved aggressively to improve the business and enhance NRT's competitiveness with an infusion of talent and new growth initiatives," said Richard A. Smith, Realogy's chairman, chief executive officer and president. "We expect these initiatives to put near-term pressure on margins, but anticipate that the resulting increase in revenue will deliver improved financial results over time and position us well to achieve our long-term goals and drive shareholder value."
Receivables remain almost stableNet receivables stood at $290 million as on Sep. 30, 2016. Accounts payable stood at $142 million as on Sep. 30, 2016. Total assets stood at $7,455million as on Sep. 30, 2016. On the other hand, total liabilities were at $4,987 million as on Sep. 30, 2016.
Return on assets was at 1.93 percent in the quarter. At the same time, return on equity was at 4.29 percent in the quarter.
Total debt was at $3,470 million as on Sep. 30, 2016. Shareholders equity was at $2,468 million as on Sep. 30, 2016. Meanwhile, debt to equity ratio was at 1.41 percent in the quarter.
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