Market Leader, the online real estate company formerly known as HouseValues, cut its net loss during the first quarter though revenues continue to fall.
The Kirkland lead generation service for real estate agents today reported first quarter revenue of $6.5 million, down from $7.8 million for the previous quarter. The net loss came in at $2.9 million, which compared to $8.8 million in the previous quarter.
It finished the quarter with $57 million in cash.
The company said it plans to save $600,000 each year as part of a lease renegotiation for its offices. It also recently announced a deal to provide its RealtyGenerator technology to 700 franchises of Realty Executives International. Shares of Market Leader were up about five percent today, trading at $1.88.
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