CoreLogic Reports Second Quarter 2019 Financial Results

Please refer to the full Form 10-Q filing for the complete financial statements and related notes that are an integral part of the financial statements.

CORELOGIC, INC.

RECONCILIATION OF ADJUSTED EBITDA

UNAUDITED

 

 

 

For the Three Months Ended June 30, 2019

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

19,272

 

$

20,377

 

$

(45,173

)

$

$

(5,524

)

Income taxes

 

 

(14,928

)

(14,928

)

Depreciation and amortization

26,113

 

13,757

 

7,236

 

47,106

 

Interest (income)/expense, net

(61

)

60

 

19,182

 

19,181

 

Share-based compensation

1,538

 

1,634

 

4,691

 

7,863

 

Non-operating losses/(gains)

4,215

 

(194

)

13,833

 

17,854

 

Efficiency investments and other

621

 

5,424

 

6,518

 

12,563

 

Transaction costs

1,675

 

 

194

 

1,869

 

Impairment Loss

 

47,834

 

 

47,834

 

Amortization of acquired intangibles included in equity in earnings of affiliates

77

 

 

 

77

 

Adjusted EBITDA

$

53,450

 

$

88,892

 

$

(8,447

)

$

$

133,895

 

 

 

For the Three Months Ended June 30, 2018

(in thousands)

PIRM

UWS

CORP

ELIM

CoreLogic

Net income/(loss) from continuing operations

$

32,295

 

$

85,868

 

$

(59,631

)

$

$

58,532

 

Income taxes

 

 

18,250

 

18,250

 

Depreciation and amortization

25,463

 

16,483

 

5,401

 

47,347

 

Interest expense, net

219

 

79

 

18,465

 

18,763

 

Share-based compensation

1,751

 

2,052

 

7,319

 

11,122

 

Impairment loss

49

 

 

 

49

 

Non-operating gains

(2,700

)

 

(72

)

(2,772

)

Efficiency investments and other

521

 

 

4,224

 

4,745

 

Transaction costs

1,747

 

 

827

 

2,574

 

Amortization of acquired intangibles included in equity in earnings of affiliates

233

 

 

 

233

 

Adjusted EBITDA

$

59,578

 

$

104,482

 

$

(5,217

)

$

$

158,843

 

CORELOGIC, INC.

RECONCILIATION OF ADJUSTED EPS

UNAUDITED

 

 

For the Three Months Ended June 30,

(Diluted income per share)

2019

2018

Net (loss)/income from continuing operations

$

(0.07

)

$

0.71

 

Share-based compensation

0.10

 

0.13

 

Non-operating losses/(gains)

0.22

 

(0.03

)

Efficiency investments and other

0.15

 

0.06

 

Impairment loss

0.59

 

 

Transaction costs

0.02

 

0.03

 

Depreciation and amortization of acquired software and intangibles

0.27

 

0.23

 

Income tax effect on adjustments

(0.46

)

(0.13

)

Adjusted EPS

$

0.82

 

$

1.00

 

CORELOGIC, INC.

RECONCILIATION TO FREE CASH FLOW

UNAUDITED

 

(in thousands)

For the Twelve Months

Ended June 30, 2019

Net cash provided by operating activities - continuing operations

$

327,297

 

Purchases of property and equipment

(85,640

)

Purchases of capitalized data and other intangible assets

(34,793

)

Free cash flow

$

206,864

 


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