Jones Lang LaSalle Reports First-Quarter 2011 Results

Revenue of $688 million, up 18 percent from the first quarter of 2010

Jones Lang LaSalle Incorporated (NYSE: JLL) reported net income of $1.5 million on a U.S. GAAP basis, or $0.03 per share, for the quarter ended March 31, 2011, compared with net income of $0.2 million on a U.S. GAAP basis, or $0.01 per share, for the quarter ended March 31, 2010.   Revenue for the first quarter of 2011 was $688 million, an increase of 18 percent in U.S. dollars, 16 percent in local currency, compared with the first quarter of 2010.  The firm’s earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $28 million for the first quarter of 2011 compared with EBITDA of $29 million for the same period in 2010. 

First-Quarter 2011 Highlights:

–    Solid revenue growth; transaction pipelines strengthening in all regions
–    Robust Americas Leasing performance with revenue up 35 percent
–    LaSalle Investment Management raised $1.5B of net capital commitments
–    Semi-annual dividend increased to $0.15 per share, from $0.10 per share

“Positive year-over-year revenue performance continued in the first quarter with good momentum building in our businesses,” said Colin Dyer, President and Chief Executive Officer of Jones Lang LaSalle. “Our healthy new business pipelines across the globe make us optimistic about our revenue and profit prospects as we move into the seasonally stronger quarters of the year,” Dyer added.