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Mortgage analytics firm CoreLogic ($27.65 0.39%) reported financial results for the quarter ended March 31, 2012.
First quarter 2012 net income from continuing operations totaled $29.1 million, a 34.5% increase from prior year. First quarter 2011 net income from continuing operations benefited from an after-tax gain of $14.9 million related to the sale of the company's minority investment in DealerTrack Holdings which was partially offset by a $14.0 million adjustment to deferred tax assets associated primarily with the acquisition of Dorado.
“CoreLogic delivered double-digit increases in revenue, operating and net income and adjusted EBITDA in the first quarter of 2012," said Anand Nallathambi, President and Chief Executive Officer.
"We grew our Data and Analytics and Mortgage Origination Services segments over 20%, achieved significant cost efficiencies and strengthened our capital structure," he added. "The company's first quarter results clearly demonstrate the growth potential, operating leverage and resiliency resident in our “must have” data and information assets and mortgage origination related businesses.”
Read the release here.
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