CoStar Group Promotes John Stanfill to L...

wishnessyly — Fri, 20 Jun 2008 16:16:35 +0200

Lead Product CoStar Group, Inc. (Nasdaq: CSGP), the number one provider ofcommercial real estate information/marketing solutions, todayannounced the promotion of John L. Stanfill to Senior VicePresident of Sales and Customer Service. Stanfill, who previouslyserved as Senior Vice President of Marketing and ProductManagement, will continue to report directly to Andrew C. Florance,the company's Founder and Chief Executive Officer, in his newlyexpanded role on CoStar's executive management team. Prior to joining CoStar in June 1995, Stanfill founded a commercialreal estate information service in Seattle that provided access toimages of commercial buildings throughout the market. Stanfill hasheld positions of increasing responsibility over the course of hisCoStar career, beginning as Sales Account Executive for the NewYork City market and including positions in business development,opening sales markets during periods of the company's U.S. nationalexpansion, and establishing and managing the company's Inside Salesoperation. He also directed the company's transition to a fullyWeb- based product offering in 2002. He served as Vice President ofProduct Management from December 2007 to early 2008, when heassumed overall responsibility for CoStar's product marketingefforts, and most recently directed the highly successful launch ofCoStar Showcase(R). "CoStar Showcase has now sold more than $3 million in subscriptionsales since its official launch last month," said Florance. "Thisnew listing marketing service is on pace to become the mostsuccessful new product in CoStar history. And while many of thesesubscriptions include a trial period and an option to cancel, theresponse to date clearly indicates these clients find CoStarShowcase to be a very compelling and effective solution formarketing their listings online. "John's extensive experience managing our product development andmarketing groups, culminating in the tremendous market reception toCoStar Showcase, make him an outstanding choice for this vitalsales management position," Florance continued. "I am confidentthat John's management experience, industry knowledge and provensuccess in selling CoStar's industry-leading information andmarketing services to a wide variety of clients and markets willhelp the company capture the tremendous sales opportunity beforeus, and achieve our goal of attaining a 30% EBITDA margin in ourU.S. operations and break-even in our international operations by2008 year-end." The company confirmed its guidance for the second quarter andfull-year 2008. For the second quarter of 2008, the companycontinues to expect a sequential quarterly increase in revenue of2.0% to 4.0% and fully diluted net income per share ofapproximately $0.24 to $0.26, as well as fully diluted net incomeper share of approximately $1.05 to $1.10 for the full-year 2008 --unchanged from its previous guidance. Dan Kimball, who recently was promoted to Vice President ofMarketing, will assume Stanfill's former responsibilities anddirect the company's marketing operations. Prior to joining CoStarin early 2007, Kimball was Partner/Vice President of Advertising atQuestus Inc., a leading interactive marketing agency, and also heldmarketing leadership positions at Capital One and other financialservices companies. Throughout his career at both start- ups andFortune 500's, Kimball has spearheaded new ventures and beenresponsible for a range of corporate development initiatives,including roles in business development, marketing, e-commerce andproduct development. Kimball joined CoStar as Senior Director,E-Commerce, and played a key role in the development and release ofCoStar Showcase.

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CoStar Group Promotes John Stanfill to L...