IRVINE, CA—Research firm CoreLogic reports anincrease in revenues during the second quarter and growth in itsdata-and-analytics sector, as well as market outperformance intechnology and processingsolutions. All of this took place in a market where USmortgage volumes are estimated to have contracted50%.
The firm reports Q2 revenues of $349.4 million, up 0.4% from theprevious quarter, and data-and-analytics growth increased 14%,fueled by growth in insurance, spatial solutions and international.Technology and processing solutions was down 11% as share gainspartially offset the impact of lower mortgage originations anddiscretionary spending.
In addition, operating income from continuing operations totaled$42.1 million, a decrease of 11%, reflecting the impact of lower USmortgage volumes, acquisition-related costs, severance charges andstranded AMPS overhead costs; net adjusted EBITDAtotaled $94.1 million, with an adjusted EBITDA margin of 27%; andthe company reduced its debt by $51 million.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
