CoreLogic net income rises 38.3% from last year
CoreLogic’s (CLGX) third-quarter consolidated revenue totaled $405.5 million as the firm gained market share and experienced organic growth. The availability of acquisition-related revenue helped offset a drop in mortgage origination volumes and delinquent loan counts.
"CoreLogic delivered strong operating performance in the third quarter despite the sharp downturn in loan originations tied to refinancing and the continued drop in loan delinquency and foreclosure rates. Our success is the result of a relentless focus on building out our D&A and MOS segments, margin expansion and disciplined capital management," said Anand Nallathambi, president and CEO of CoreLogic.
Net income from continuing operations totaled $50 million, up 38.3% year-over-year, while diluted earnings per share from continuing operations totaled 52 cents, up 48.6% from the third quarter of 2012.