CoreLogic Reports Second Quarter 2015 Financial Results

 

CORELOGIC, INC.

RECONCILIATION OF ADJUSTED DILUTED EPS

UNAUDITED



For the Three Months Ended June 30, 2015

(in thousands, except per share amounts)

D&A

TPS

Corporate

Elim

CoreLogic

Income/(loss) from continuing operations before equity in earnings of affiliates and income taxes

$

24,784


$

57,031


$

(39,062)


$


$

42,753


Pre-tax equity in (loss)/earnings of affiliates

(383)


8,068


79



7,764


Stock-based compensation

2,802


1,323


5,682



9,807


Non-operating investment loss



1,590



1,590


Efficiency investments



350



350


Transaction costs

1,440



258



1,698


Amortization of acquired intangibles

6,893


2,822




9,715


Interest expense adjustments



444



444


Depreciation of certain acquired proprietary technology included in property and equipment

2,880





2,880


Adjusted pretax income from continuing operations

$

38,416


$

69,244


$

(30,659)


$


$

77,001


Tax provision (35% rate)





26,950


Less: Net income attributable to noncontrolling interests





258


Adjusted net income attributable to CoreLogic





$

49,793


Weighted average diluted common shares outstanding





90,963


Adjusted diluted EPS





$

0.55















For the Three Months Ended June 30, 2014

(in thousands, except per share amounts)

D&A

TPS

Corporate

Elim

CoreLogic

Income/(loss) from continuing operations before equity in earnings of affiliates and income taxes

$

28,162


$

38,644


$

(35,074)


$


$

31,732


Pre-tax equity in (loss)/earnings of affiliates

(202)


6,409


66



6,273


Stock-based compensation

1,691


1,300


4,759



7,750


Non-operating investment gains


(6,012)




(6,012)


Efficiency investments



694



694


Impairment loss

174


3,900




4,074


Transaction costs



1,118



1,118


Amortization of acquired intangibles

7,308


2,671




9,979


Depreciation of certain acquired proprietary technology included in property and equipment

2,635





2,635


Adjusted pretax income from continuing operations

$

39,768


$

46,912


$

(28,437)


$


$

58,243


Tax provision (38% rate)





22,132


Less: Net loss attributable to noncontrolling interests





230


Adjusted net income attributable to CoreLogic





$

35,881


Weighted average diluted common shares outstanding





93,062


Adjusted diluted EPS





$

0.39





CORELOGIC, INC.

RECONCILIATION TO FREE CASH FLOW

UNAUDITED




For the Twelve Months Ended June 30, 2015

Net cash provided by operating activities - continuing operations


$

340,617


Purchases of property and equipment


(47,225)


Purchases of capitalized data and other intangible assets


(37,303)


Free Cash Flow


$

256,089



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