CHICAGO-Jones Lang LaSalle Inc. released its Q1 earnings report today. The Chicago-based company saw a net loss of $61 million, or $1.78 per share. Its EBITDA was $11 million, down from Q1 2008′s total of $22 million. Q1 revenue totaled $494 million, a 12% decrease over last year’s numbers.

“The adjusted net loss and adjusted EBITDA are consistent with the seasonal nature of the business as well as the lack of significant transaction and incentive fees within the challenging operating environment,” a company official says.

The first quarter’s adjusted net loss, taking into account restructuring and non-cash charges, would have been $16 million, or $0.47 per share. JLL saw $17 million of restructuring charges, $29 million of non-cash co-investment related charges and $7 million of intangibles amortization due to the purchases of The Staubach Co. and Kemper’s.

“Solid first-quarter performance in our Americas region and annuity businesses globally were offset by the seasonality of our business and the weakest transaction markets in memory,” says CEO Colin Dyer. “In this environment, we continue to reduce costs aggressively, manage our balance sheet responsibly and serve our clients effectively.”

Within the first three months of 2009, JLL managed to reduce its staff and discretionary spending from $556 million at the end of 2008 to $505 million. The firm has plans to continue reducing this number with the hopes of banking $100 million in savings.

In the US, JLL saw a revenue increase of 15% to $200 million. This is due in large part to the purchase of Staubach. The company’s financial statement lists additional revenue: “Transaction Services revenue increased 34 percent, to $107 million in the first quarter. The region’s total Leasing revenue for the quarter increased 50 percent, to $86 million, up from $57 million in 2008. Management Services revenue for the first quarter of 2009 decreased 5 percent, to $85 million, driven primarily by project and development services as clients continue to reduce capital expenditures.”

Revenue fell in both EMEAs and the Asia Pacific. EMEA’s Q1 revenue totaled $121 million, decreasing 34% from $183 million in 2008. The Asia Pacific region’s revenue fell to $105 million from $117 million in Q4.

“The firm has adapted its service offerings to the changing needs of clients, strengthened its Corporate Solutions business for an expanding client base and gained market share from competitors,”a JLL official says. “It has taken significant actions to reduce its expense base through aggressive staffing and discretionary spending reductions. The firm’s responsible approach to the balance sheet has positioned the company well despite the weak trading conditions around the globe. The firm remains prepared to capitalize on new opportunities to serve clients in the challenging environment that lies ahead.”