RE/MAX: 1Q Earnings Snapshot

DENVER (AP) _ RE/MAX Holdings Inc. (RMAX) on Thursday reported first-quarter net income of $4.4 million.

On a per-share basis, the Denver-based company said it had net income of 25 cents. Earnings, adjusted for one-time gains and costs, were 48 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 48 cents per share.

The franchisor of residential real estate brokerages posted revenue of $71.2 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $65.3 million.

For the current quarter ending in July, 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 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.43, a fall of 23% in the last 12 months.

_____

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