Angie's List Turns First Full-Year Profit in Two Decades

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Indianapolis-based Angie's List Inc. (Nasdaq: ANGI) has announced its first-ever full-year profit. The online home services provider is reporting net income of $10.2 million, compared to a 2014 loss of $12.1 million. Chief Executive Officer Scott Durchslag says he has "great confidence" in growth for 2016.

Fourth quarter net income was off slightly at $14.2 million, compared to $15.3 million in the same period a year earlier.

Durchslag says, despite hitting several major milestones that have been built since 1995, "we can do more to capitalize on this strong foundation." He continues "since I joined Angie's List just six months ago, we've launched change across the Company to strengthen customer loyalty, improve operating efficiency, and enhance our product, technology and marketing capabilities. New products, including LeadFeed, Angie's Fair Price Guarantee and Angie's Service Quality Guarantee, as well as the initial rollout of our new Angie's List 4.0 technology platform are just a few examples. We are executing smarter, faster and with more discipline based on data driven decisions than ever before. For the full year, we increased the number of participating service providers and grew service provider revenue by 14 percent. While member revenue declined from a year ago, we grew total members by 8 percent to 3.3 million."

The company says it will be rolling out a new growth plan and priorities for the year during an investor day event March 3.

This story will be updated online and in the INside Edge e-newsletter.

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