RE/MAX: 4Q Earnings Snapshot

DENVER (AP) _ RE/MAX Holdings Inc. (RMAX) on Thursday reported fourth-quarter net income of $6.3 million, after reporting a loss in the same period a year earlier.

The Denver-based company said it had net income of 35 cents per share. Earnings, adjusted for one-time gains and costs, came to 49 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The franchisor of residential real estate brokerages posted revenue of $50.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $50.3 million.

For the year, the company reported profit of $27 million, or $1.52 per share. Revenue was reported as $212.6 million.

For the current quarter ending in April, RE/MAX said it expects revenue in the range of $70 million to $73 million.

The company expects full-year revenue in the range of $287 million to $291 million.

RE/MAX shares have risen 31 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.35, a fall of 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMAX at https://www.zacks.com/ap/RMAX