Jones Lang LaSalle announces results

Jones Lang LaSalle Incorporated reported net income of $44 million on a U.S. GAAP basis, or $0.99 per share, for the quarter ended June 30, 2011, compared with net income of $32 million on a U.S. GAAP basis, or $0.72 per share, for the quarter ended June 30, 2010.

Adjusting for restructuring and acquisition charges and certain other impacts of purchase accounting, net income would have been $50 million or $1.12 per share for the second quarter of 2011, compared with adjusted net income of $37 million or $0.83 per share in 2010. The firm’s adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) were $94 million for the second quarter of 2011 compared with adjusted EBITDA of $78 million for the same period in 2010.

Revenue for the second quarter of 2011 was $845 million, an increase of 24 percent in U.S. dollars, 17 percent in local currency, compared with the second quarter of 2010. On a year-to-date basis net income was $45 million, or $1.02 per share, compared with net income of $32 million, or $0.73 per share, for the first six months of 2010. Adjusting for Restructuring and acquisition charges and certain other impacts of purchase accounting, net income would have been $51 million or $1.15 per share for the first half of 2011, compared with adjusted net income of $43 million for the same period of 2010. Adjusted EBITDA on a year-to-date basis was $122 million compared with adjusted EBITDA of $115 million in 2010. Revenue for the first six months of 2011 was $1.5 billion, compared with $1.3 billion in 2010, an increase of 22 percent, 17 percent in local currency.