0000898430-01-503059.txt : 20011026
0000898430-01-503059.hdr.sgml : 20011026
ACCESSION NUMBER: 0000898430-01-503059
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011022
ITEM INFORMATION:
FILED AS OF DATE: 20011022
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: CB RICHARD ELLIS SERVICES INC
CENTRAL INDEX KEY: 0000852203
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500]
IRS NUMBER: 521616016
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-12231
FILM NUMBER: 1763783
BUSINESS ADDRESS:
STREET 1: 200 NORTH SEPULVEDA BLVD
CITY: EL SEGUNDO
STATE: CA
ZIP: 90245
BUSINESS PHONE: 3105638600
MAIL ADDRESS:
STREET 1: 200 NORTH SEPULVEDA BLVD
CITY: EL SEGUNDO
STATE: CA
ZIP: 90245
FORMER COMPANY:
FORMER CONFORMED NAME: CB ACQUISITION CORP
DATE OF NAME CHANGE: 19890731
FORMER COMPANY:
FORMER CONFORMED NAME: CB COMMERCIAL HOLDINGS INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: CB COMMERCIAL REAL ESTATE SERVICES GROUP INC
DATE OF NAME CHANGE: 19980521
8-K
1
d8k.txt
FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 22, 2001
CB RICHARD ELLIS SERVICES, INC.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 001-12231 52-1616016
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
355 S. Grand Avenue, Suite 3100, Los Angeles, California 90071
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(Address of Principal Executive Offices) (Zip Code)
(213) 613-3333
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Registrant's Telephone Number, Including Area Code
NA
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(Former Name or Former Address, if Changed Since Last Report)
This Current Report on Form 8-K is filed by CB Richard Ellis Services,
Inc., a Delaware corporation (the "Company"), in connection with the matters
described herein.
Item 9. Regulation FD Disclosure
CB Richard Ellis Services, Inc. and CBRE Holding, Inc. issued a press
release dated October 22, 2001 announcing its preliminary, unaudited results of
operations for the eight month period ended August 31, 2001.
The press release is filed herewith as Exhibit 99.1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: October 22, 2001 CB RICHARD ELLIS SERVICES, INC.
By: /s/ Walter V. Stafford
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Walter V. Stafford
General Counsel
EX-99.1
3
dex991.txt
PRESS RELEASE DATE 10/22/2001
EXHIBIT 99.1
[LETTERHEAD OF CB RICHARD ELLIS]
P R E S S R E L E A S E
FOR IMMEDIATE RELEASE -- October 22, 2001
For further information:
James Leonetti, Chief Financial Officer
CB Richard Ellis
jleonetti@cbre.com
CBRE Holding, Inc. and CB Richard Ellis Services, Inc. Announces its
preliminary, unaudited results of operations for the eight months ended August
31, 2001
NEW YORK--(BUSINESS WIRE)--October 22, 2001--
On October 22, 2001, CB Richard Ellis Services, a subsidiary of CBRE Holding,
Inc., announced its preliminary, unaudited results of operations for the eight
months ended August 31, 2001. For this period, CB Richard Ellis Services'
revenues were approximately $743 million, commissions, fees and other incentives
were approximately $352 million and operating, administrative and other expenses
were approximately $343 million. These results of operations for the eight
months ended August 31, 2001 as compared to the eight months ended August 31,
2000 indicate that revenues have declined by approximately 7%, commissions, fees
and other incentives have declined by approximately 6% and operating,
administrative and other expenses declined by approximately 1%. While the
decline in revenue has been partially offset by the declines in commission and
operating expenses, CB Richard Ellis Services has experienced a decline in
operating income, cash flow and profitability during the first eight months of
2001, relative to the same period of 2000.
In addition, on September 11, 2001, a terrorist attack resulted in the
destruction of the World Trade Center Towers in New York City and significant
damage to surrounding buildings and property in lower Manhattan. Due to this
attack and a separate attack on the Pentagon in northern Virginia, as well as
the possible related outbreak of hostilities and what may be the beginning of
bio-terrorist activities we expect a further deterioration of the U.S. economy
and commercial real estate market conditions, which could further adversely
affect our transaction management segment and our other business segments.
###
About CB Richard Ellis
CB Richard Ellis is the world's leading real estate services company.
Headquartered in Los Angeles with nearly 10,000 employees worldwide, the company
serves real estate owners, investors and occupiers through nearly 251 offices in
44 countries. Services include property sales and leasing, property management,
corporate services, facilities management, commercial mortgage services,
investment management, appraisal/valuation, research and consulting. CB Richard
Ellis had 2000 revenues of $1.3 billion. For more information about CB Richard
Ellis, visit the company's website at www.cbre.com.
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