Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times reporter Sharon Chan.
May 1, 2007 1:21 PM
Posted by Kim Peterson
A couple of companies reporting earnings today:
Sales were up but profits down at Getty Images, based in Seattle. The digital image company reported a record $213 million in sales for the first quarter. That compares to $201 million for the same period last year. Profit was $38 million, or 63 cents a share. That's slightly down from last year's profit of $39.3 million, or 61 cents a share.
Profit was hurt by the $4.1 million in fees Getty paid for a professional review of its stock option compensation practices. The Securities and Exchange Commission is also conducting an informal review of the company's stock option grants.
At Kirkland-based HouseValues, an online real estate company, first-quarter sales were $17.8 million, down from $23.2 million in the previous year. The company swung to a $1.2 million loss, or 5 cents a share from a profit of $1.8 million, or 6 cents a share, in 2006.
HouseValues launched a new consumer real estate portal today at HomePages.com, and it's selling advertising space to real estate agents who want to promote their listings. The company had fewer customers at the end of the quarter than it did at the end of 2006.
In other news, Isilon Systems said today that Mark Schrandt has resigned as vice president of engineering. The company didn't say why Schrandt left.