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HFF's Loan Production Continues to Rise

PITTSBURGH-In its second full quarter as a public company, HFF posts a 39.8% rise in revenue along with increased loan production and number of transactions.

By Marita Thomas | Updated on August 07, 2007

(Read more on the debt and equity markets.)

PITTSBURGH-HFF Inc. generated $79.8 million in revenue during its second full quarter as a publicly traded company. That represents a 39.8% increase in its $22.7 million of revenue from a year ago. Nearly all other measures of performance also rose for the quarter ending June 30, with the exception of net income, which dropped to $5.1 million, down from $12.5 million in Q2 2006.

During a conference call, management attributed the decrease in income to a change in tax structure and costs related to launching its IPO. Income tax expense for the most recent quarter, for example, was $3.8 million, which is $3.7 million more than in second-quarter 2006.At the opening of the conference call, CEO John Pelusi said “we have not been, nor are we currently involved in the for-sale home market or subprime residential market.” This clarification, he said, was in response to questions that have arisen from investors.

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