CoreLogic Reports Record First Quarter 2021 Revenue, Operating Income, Profit Margins and Cash Flow

CoreLogic, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

 

For the Three Months
Ended March 31,

 

(in thousands, except per share amounts)

2021

 

2020

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:

 

 

 

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

 

 

 

 

 

 

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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