Steve Winn, long-time president and CEO of the former Computer Language Research, has taken public RealPage, a real estate software company. Winn sold $18.2 million stock in his newest venture and his holdings had a market value of $487 million at the $16.75 per share close on August 18. The company went public in late July at $11 per share. CLR originated the InSource corporate tax line and GoSystem products, which are now owned by Thomson Reuters.RealPage reported revenue $140.9 million for the year ended Dec. 31, 2009, a 25.2-percent increased from $112.6 million the prior year. Net income for fiscal 2009 was $28.4 million, compared to a loss of $3.21 in fiscal 2008. However, revenue for the first six months of 2010 was $67.1 million, a drop of 22 percent from $86.2 million for last year's corresponding period. However, RealPage reported slightly more than $2 million in net income for the most recently ended half, compared to a loss of $39,000 a year earlier. The company had gross proceeds of roughly $69.3 million. It intends to use much of that money to pay accumulated dividends on preferred stock.
For 2009, revenue from Internet-based products was $86.2 million up 28.4 percent from $67.1 million in 2008. However for the first half of 2010, revenue for that same category fell to $60.1 million, down 22 percent from $76.9 million