Mortgage software provider Ellie Mae (ELLI) earned $1.8 million, or 8 cents a share, for the fourth quarter down from $1.9 million, or 11 cents a share, a year earlier.

Results for the three months ended Dec. 31 include a tax benefit of $1.6 million due to a change in the tax valuation allowance from the acquisition of Del Mar Datatrac in August.

Excluding the impact of the tax benefit, fourth-quarter earnings were $2.8 million, or 13 cents a share. The Del Mar Datatrac acquisition is expected to accelerate the company’s growth by significantly expanding its lender customer base.

Revenue rose 48% to $18.8 million, compared to $12.7 million in the fourth quarter of 2010. Software revenue increased 58% to $15.9 million from $10.1 million a year earlier. Network revenue was $2.8 million, essentially flat with a year earlier.

For the year, Ellie Mae earned earned $3.6 million, or 18 cents a share, including a tax benefit, up from $800,000, or 5 cents a share, in 2010. Before the tax gain, the company earned $2 million, or 10 cents a share, in 2011.

For the first quarter, Ellie Mae expects to earn between $1.9 million and $2.4 million, or 9 cents to 11 per diluted share, on revenue of $17.9 billion to $18.3 million.

The company based its 2012 projections on the estimates calling for $1 trillion of mortgage originations this year.

For the full year, Ellie Mae expects to earn $2.4 million to $3.8 million, or 11 cents to 17 cents a share, on $68 million to $70 million.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please