BETHESDA, Md., Nov. 3, 2009 -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced that it was named one of "America's 200 Best Small Companies" by Forbes magazine. The annual ranking appeared in the issue dated November 2, 2009 and on Forbes' website at www.forbes.com/200best.
In an accompanying article entitled "Small-Cap Gems," CoStar was highlighted along with several other companies from the William Blair Small Cap Growth Fund as examples of companies with strong balance sheets and market positions. Forbes noted, "These are not the best of times economically, but some small firms are thriving nevertheless." The article can be viewed at the following link: http://www.forbes.com/forbes/2009/1102/small-companies-09-william-blair-fund-small-cap-gems.html
Forbes said its ranking of the 200 best small companies was based on earnings growth, sales growth and return on equity in the past 12 months and over a five-year period. As listed by Forbes, CoStar Group's sales grew 18 percent, earnings per share rose 110 percent and return on equity increased 7 percent, on average during the past five years. Shares of last year's list members outpaced the Russell 2000 Index by 10 percentage points, according to Forbes.
To qualify, companies must have annual revenue between $5 million and $750 million, be publicly traded for at least a year, and have a stock price no lower than $5. Forbes said it also compared the company's stock performance with that of its industry peers.
CoStar Group President and CEO Andrew Florance said he was very pleased to see CoStar's financial performance recognized by the leading business publication.
"All of us at CoStar are very honored to receive this recognition from Forbes, one of the most widely read and respected business magazines in the world," said Florance. "Being named one of the best 200 small companies in America is a tremendous tribute to the hard work and dedication of our employees, who do an outstanding job in researching all of the buildings and markets CoStar covers. This recognition also validates the growth strategy we've pursued to assemble the largest aggregation of commercial property information within a research database system anywhere in the world, offering tremendous value for our subscribers."
"We are now focused on leveraging our extensive data, strong balance sheet, and highly-effective sales channel in ways that can enhance the value of our services to subscribers and generate significant future revenue," continued Florance. "Through select acquisitions and additional technology investments, we expect to continue to produce innovative, value-added solutions for our customers, and deliver long-term value to our shareholders."
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information, marketing and analytic services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, CoStar has approximately 1,400 people working for the company worldwide, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.