Koll Subsidiary Earns $554,000 in Quarter
NEWPORT BEACH — Koll Management Services Inc. said Thursday that it earned $554,000 on revenue of $6.5 million for the first quarter of its fiscal year ending June 30.
That compares to profits of $455,000 on $4.5 million during the same quarter last year. Koll Management Services bought three asset management companies in Texas and the Midwest during the last year, which accounted for $620,000 of the $2-million increase in revenues.
Koll Management Services is a subsidiary of the large, privately held developer Koll Co., also based in Newport Beach.
The subsidiary, a real estate management firm, went public in July at $10 a share. It closed Thursday on the over-the-counter market at the same price.
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