Move.com still moving in the right direction

Move, Inc. (NASDAQ: MOVE), a leading real estate portal, has had to endure the financial collapse, the plunge in mortgages and the continued deterioration in the housing market. Despite all this, the company continues to get traction.

Just look at the Q3 results. Revenues came to $61.2 million, which compares to $63.4 million in the same period a year ago. Adjusted EBITDA (earnings from before interest, taxes, stock-based compensation and charges, depreciation, amortization and other non-recurring charges) was about $5.7 million. There is about $114 million in the bank.

Move is also continuing to find ways to boost cash flows. For example, the company is in the process of reducing expenses by $20 million per year, which would be a big boost.

At the same time, Move is taking steps to remain competitive and provide its users with a better experience. To this end, the company launched a redesign of its website. In fact, during September the Realtor.com site saw a 17% increase in total minutes spent on the destination.

For the most part, there is a major shift in marketing expenditures from traditional to online platforms. True, this is being muted because of the rough environment. But when things start to improve, Move will certainly be poised to capitalize on the growth.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market. He is also the founder of BizEquity, a valuation website.