HFF Inc. (HF, Financial) filed Quarterly Report for the period ended 2009-09-30.
HFF INC. operates out of eighteen offices nationwide and is a leading provider of commercial real estate and capital market services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement investment sales structured finance private equity note sale and note sales advisory services and commercial loan servicing. HFF incorporates capital markets knowledge with local real estate knowledge to successfully complete any type of real estate transaction regardless of size or complexity. HFF consistently maintains the capital markets relationships critical to successfully accomplish the clients' specific capital needs in today's highly complex and rapidly shifting capital markets environment. Hff Inc. has a market cap of $101.5 million; its shares were traded at around $6.13 with and P/S ratio of 0.8.
The revenues we generated from capital markets services for the three months ended September 30, 2009 decreased $10.0 million, or 33.8%, to $19.5 million from $29.4 million for the same period in 2008. The decrease is primarily attributable to a decrease in both the number and the average dollar value of transactions closed during the third quarter of 2009 compared to the third quarter of 2008, brought about in significant part, by the unprecedented disruptions, write-offs and credit losses in the global and domestic capital and credit markets coupled with a continuing slowing economy and/or recession, both globally and domestically.
Total Operating Expenses. Our total operating expenses were $19.8 million for the three months ended September 30, 2009 compared to $31.1 million for the same period in 2008, a decrease of $11.4 million, or 36.5%. Expenses decreased primarily due to decreased cost of services due to a decrease in capital markets services revenue, decreased personnel costs primarily due to a decrease in revenue and decreased travel and entertainment and supplies, research and printing.
Net Income. Our net income for the three months ended September 30, 2009 was $1.3 million, a decrease of $0.4 million versus income of $1.7 million for the same fiscal period in 2008. We attribute this decrease to several factors, with the most significant cause being a decrease of revenues of $10.4 million.
Read the The complete ReportHF is in the portfolios of Chuck Akre of Akre Capital Management, LLC.
HFF INC. operates out of eighteen offices nationwide and is a leading provider of commercial real estate and capital market services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement investment sales structured finance private equity note sale and note sales advisory services and commercial loan servicing. HFF incorporates capital markets knowledge with local real estate knowledge to successfully complete any type of real estate transaction regardless of size or complexity. HFF consistently maintains the capital markets relationships critical to successfully accomplish the clients' specific capital needs in today's highly complex and rapidly shifting capital markets environment. Hff Inc. has a market cap of $101.5 million; its shares were traded at around $6.13 with and P/S ratio of 0.8.
Highlight of Business Operations:
Revenues. Our total revenues were $20.6 million for the three months ended September 30, 2009 compared to $31.0 million for the same period in 2008, a decrease of $10.4 million, or 33.6%. Revenues decreased primarily as a result of the decrease in production volumes in several of our capital markets services platforms brought about, in significant part, by the unprecedented disruptions, write-offs and credit losses in the global and domestic capital and credit markets coupled with a continuing slowing economy and/or recession, both globally and domestically.The revenues we generated from capital markets services for the three months ended September 30, 2009 decreased $10.0 million, or 33.8%, to $19.5 million from $29.4 million for the same period in 2008. The decrease is primarily attributable to a decrease in both the number and the average dollar value of transactions closed during the third quarter of 2009 compared to the third quarter of 2008, brought about in significant part, by the unprecedented disruptions, write-offs and credit losses in the global and domestic capital and credit markets coupled with a continuing slowing economy and/or recession, both globally and domestically.
Total Operating Expenses. Our total operating expenses were $19.8 million for the three months ended September 30, 2009 compared to $31.1 million for the same period in 2008, a decrease of $11.4 million, or 36.5%. Expenses decreased primarily due to decreased cost of services due to a decrease in capital markets services revenue, decreased personnel costs primarily due to a decrease in revenue and decreased travel and entertainment and supplies, research and printing.
Net Income. Our net income for the three months ended September 30, 2009 was $1.3 million, a decrease of $0.4 million versus income of $1.7 million for the same fiscal period in 2008. We attribute this decrease to several factors, with the most significant cause being a decrease of revenues of $10.4 million.
Read the The complete ReportHF is in the portfolios of Chuck Akre of Akre Capital Management, LLC.