Colliers International Group Inc. reported GAAP EPS of 86 cents for the 2017 fourth quarter, down from EPS of $1.14 in the year-ago quarter. Results included a 34-cent-per-share charge to remeasure U.S. deferred income tax assets at lower corporate tax rates following the enactment of tax reform legislation in the U.S.
Adjusted EPS, which also accounts for the effects of foreign exchange, totaled $1.41 for the fourth quarter of 2017, up from $1.22 in the year-ago quarter. GAAP operating earnings totaled $84.0 million for the fourth quarter, up from $76.1 million in the year-ago period, and adjusted EBITDA for the quarter rose to $101.1 million from $90.4 million in the corresponding period of 2016.
Colliers' fourth-quarter revenues totaled $734.3 million, up from $576.0 million in the prior-year period.
For full year 2017, EPS totaled $1.25, down from $1.75 for 2016. Full-year adjusted EPS rose to $3.11 in 2017 from $2.44 in 2016.
GAAP operating earnings for 2017 totaled $166.8 million in 2017, up from $146.2 million in 2016. Adjusted EBITDA for 2017 came in at $242.3 million, compared to $203.1 million in the previous year.
Colliers' revenue for 2017 increased to $2.28 billion from $1.90 billion in the previous year.