CoreLogic Reports First 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.
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CORELOGIC, INC.
|
|
RECONCILIATION OF ADJUSTED EBITDA
|
|
UNAUDITED
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, 2019
|
|
(in thousands)
|
|
|
PIRM
|
|
|
UWS
|
|
|
Corporate
|
|
|
Elim
|
|
|
CoreLogic
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|
Net income/(loss) from continuing operations
|
|
|
$
|
11,387
|
|
|
|
$
|
45,435
|
|
|
|
$
|
(55,089
|
)
|
|
|
$
|
—
|
|
|
|
$
|
1,733
|
|
Income taxes
|
|
|
—
|
|
|
|
—
|
|
|
|
919
|
|
|
|
—
|
|
|
|
919
|
|
Depreciation and amortization
|
|
|
26,799
|
|
|
|
15,775
|
|
|
|
6,645
|
|
|
|
—
|
|
|
|
49,219
|
|
Interest expense, net
|
|
|
247
|
|
|
|
81
|
|
|
|
18,397
|
|
|
|
—
|
|
|
|
18,725
|
|
Share-based compensation
|
|
|
1,750
|
|
|
|
1,623
|
|
|
|
6,519
|
|
|
|
—
|
|
|
|
9,892
|
|
Non-operating losses
|
|
|
2,275
|
|
|
|
—
|
|
|
|
269
|
|
|
|
—
|
|
|
|
2,544
|
|
Efficiency investments
|
|
|
1,590
|
|
|
|
463
|
|
|
|
10,989
|
|
|
|
—
|
|
|
|
13,042
|
|
Transaction costs
|
|
|
1,698
|
|
|
|
—
|
|
|
|
(12
|
)
|
|
|
—
|
|
|
|
1,686
|
|
Amortization of acquired intangibles included in equity in losses of
affiliates
|
|
|
77
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
77
|
|
Adjusted EBITDA
|
|
|
$
|
45,823
|
|
|
|
$
|
63,377
|
|
|
|
$
|
(11,363
|
)
|
|
|
$
|
—
|
|
|
|
$
|
97,837
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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For the Three Months Ended March 31, 2018
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|
(in thousands)
|
|
|
PIRM
|
|
|
UWS
|
|
|
Corporate
|
|
|
Elim
|
|
|
CoreLogic
|
|
Net income/(loss) from continuing operations
|
|
|
$
|
20,671
|
|
|
|
$
|
47,754
|
|
|
|
$
|
(40,063
|
)
|
|
|
$
|
—
|
|
|
|
$
|
28,362
|
|
|
Income taxes
|
|
|
—
|
|
|
|
—
|
|
|
|
(633
|
)
|
|
|
—
|
|
|
|
(633
|
)
|
|
Depreciation and amortization
|
|
|
25,735
|
|
|
|
14,964
|
|
|
|
5,441
|
|
|
|
—
|
|
|
|
46,140
|
|
|
Interest expense, net
|
|
|
279
|
|
|
|
75
|
|
|
|
16,808
|
|
|
|
—
|
|
|
|
17,162
|
|
|
Share-based compensation
|
|
|
1,086
|
|
|
|
2,340
|
|
|
|
5,251
|
|
|
|
—
|
|
|
|
8,677
|
|
|
Non-operating losses
|
|
|
500
|
|
|
|
—
|
|
|
|
446
|
|
|
|
—
|
|
|
|
946
|
|
|
Efficiency investments
|
|
|
—
|
|
|
|
—
|
|
|
|
499
|
|
|
|
—
|
|
|
|
499
|
|
|
Transaction costs
|
|
|
1,215
|
|
|
|
—
|
|
|
|
826
|
|
|
|
—
|
|
|
|
2,041
|
|
|
Amortization of acquired intangibles included in equity in earnings
of affiliates
|
|
|
233
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
233
|
|
|
Adjusted EBITDA
|
|
|
$
|
49,719
|
|
|
|
$
|
65,133
|
|
|
|
$
|
(11,425
|
)
|
|
|
$
|
—
|
|
|
|
$
|
103,427
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
CORELOGIC, INC.
|
|
RECONCILIATION OF ADJUSTED EPS
|
|
UNAUDITED
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31,
|
|
(Diluted income per share)
|
|
|
2019
|
|
|
2018
|
|
Net income from continuing operations
|
|
|
$
|
0.02
|
|
|
|
$
|
0.34
|
|
|
Share-based compensation
|
|
|
0.12
|
|
|
|
0.10
|
|
|
Non-operating losses
|
|
|
0.03
|
|
|
|
0.01
|
|
|
Efficiency investments
|
|
|
0.16
|
|
|
|
0.01
|
|
|
Transaction costs
|
|
|
0.02
|
|
|
|
0.02
|
|
|
Depreciation and amortization of acquired software and intangibles
|
|
|
0.24
|
|
|
|
0.22
|
|
|
Income tax effect on adjustments
|
|
|
(0.14
|
)
|
|
|
(0.18
|
)
|
|
Adjusted EPS
|
|
|
$
|
0.45
|
|
|
|
$
|
0.52
|
|
|
|
|
|
|
|
|
|
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|
|
|
CORELOGIC, INC.
|
|
RECONCILIATION TO FREE CASH FLOW
|
|
UNAUDITED
|
|
|
|
|
|
|
(in thousands)
|
|
|
For the Twelve Months
Ended March 31, 2019
|
|
Net cash provided by operating activities - continuing operations
|
|
|
$
|
319,491
|
|
|
Purchases of property and equipment
|
|
|
(76,384
|
)
|
|
Purchases of capitalized data and other intangible assets
|
|
|
(34,478
|
)
|
|
Free cash flow
|
|
|
$
|
208,629
|
|
