Things You Just Don't Hear That Often

Things You Just Don't Hear That Often

What made me take note of HFF inc. is the fact that they are the only Western Pennsylvania stock that I track that is UP today. They’re not just up, they’re up 10%. As of this writing, I don’t see any particular reason for it. It did spark some curiosity on my part, so I decided to review their press release for 3Q 2008. Here’s some pretty scary wording:

In the face of these challenging conditions as well as a slowing global economic climate, especially in the U.S., the Company generated third quarter total revenue of approximately $31.0 million compared to approximately $68.0 million in the third quarter of 2007, which represents a decrease of approximately $37.0 million, or 54.4%. The Company reported an operating loss of $0.1 million for the third quarter of 2008 compared to operating income of approximately $13.6 million in the comparable period of 2007, which represents a decrease of approximately $13.7 million, or 100.7%.

If your profit is down anything over 100%, it’s not a good sign.

To satsify your curiosity, what is HFF?

a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry based on production transaction volume and is one of the largest full-service commercial real estate financial intermediaries in the country.

I’m guessing that there are quite a few empty office buildings at the moment.