| Don Sniegowski
| Mar 29 | service
DENVER – Following its $225 million initial public offering in October of last year, Re/Max (NYSE:RMAX) on Thursday announced to the public its operating results for the fourth quarter of 2013 and the entire year. It disclosed that 40 percent of its $158 million in revenues came from franchise fees and that its 2013 revenues are up from 2012's $143 million.
RE/MAX grew agent count in the United States by 5.2 percent to 54,491 in 2013. That 2,688 increase in agents recruited includes both company territory and independent franchise-owned territories. Re/Max grew its worldwide agent number to 93,228, a rise of 4.7 percent.
"For the second year in a row, we grew agent count, revenue and our adjusted EBITDA margin from the prior year," stated Margaret Kelly, chief...