CoreLogic, Inc. |
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Condensed Consolidated Statements of Operations |
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(Unaudited) |
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|
For the Three Months
|
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|
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(in thousands, except per share amounts) |
2021 |
|
2020 |
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Operating revenues |
$ |
422,785 |
|
|
|
$ |
352,920 |
|
|
Cost of services (excluding depreciation and amortization shown below) |
162,559 |
|
|
|
144,525 |
|
|
||
Selling, general and administrative expenses |
130,008 |
|
|
|
109,624 |
|
|
||
Depreciation and amortization |
44,781 |
|
|
|
43,578 |
|
|
||
Total operating expenses |
337,348 |
|
|
|
297,727 |
|
|
||
Operating income |
85,437 |
|
|
|
55,193 |
|
|
||
Interest expense: |
|
|
|
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Interest income |
98 |
|
|
|
414 |
|
|
||
Interest expense |
16,401 |
|
|
|
18,193 |
|
|
||
Total interest expense, net |
(16,303 |
) |
|
|
(17,779 |
) |
|
||
Loss on investments and other, net |
(502 |
) |
|
|
(3,857 |
) |
|
||
| Income from continuing operations before equity in earnings of affiliates and income taxes |
68,632 |
|
|
|
33,557 |
|
|
||
| Provision for income taxes |
13,689 |
|
|
|
9,785 |
|
|
||
| Income from continuing operations before equity in earnings of affiliates |
54,943 |
|
|
|
23,772 |
|
|
||
| Equity in earnings of affiliates, net of tax |
— |
|
|
|
512 |
|
|
||
| Net income from continuing operations |
54,943 |
|
|
|
24,284 |
|
|
||
| Income from discontinued operations, net of tax |
3,907 |
|
|
|
9,535 |
|
|
||
| Loss from sale of discontinued operations, net of tax |
(5,288 |
) |
|
|
— |
|
|
||
| Net income |
$ |
53,562 |
|
|
|
$ |
33,819 |
|
|
|
|
|
|
|
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| Basic income per share: |
|
|
|
||||||
| Net income from continuing operations |
$ |
0.75 |
|
|
|
$ |
0.31 |
|
|
| Income from discontinued operations, net of tax |
0.05 |
|
|
|
0.12 |
|
|
||
| Loss from sale of discontinued operations, net of tax |
(0.07 |
) |
|
|
— |
|
|
||
| Net income |
$ |
0.73 |
|
|
|
$ |
0.43 |
|
|
| Diluted income per share: |
|
|
|
||||||
| Net income from continuing operations |
$ |
0.73 |
|
|
|
$ |
0.30 |
|
|
| Income from discontinued operations, net of tax |
0.05 |
|
|
|
0.12 |
|
|
||
| Loss from sale of discontinued operations, net of tax |
(0.07 |
) |
|
|
— |
|
|
||
| Net income |
$ |
0.71 |
|
|
|
$ |
0.42 |
|
|
| Weighted-average common shares outstanding: |
|
|
|
||||||
| Basic |
73,228 |
|
|
|
79,028 |
|
|
||
| Diluted |
75,135 |
|
|
|
80,525 |
|
|
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|
CoreLogic Reports Record First Quarter 2021 Revenue, Operating Income, Profit Margins and Cash Flow
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