CoreLogic reported a 90% year-over-year decline in net income during the fourth quarter, as impairment charges more than offset the company's revenue gains.
The company's net earnings were $3.6 million, down from $37.7 million a year before. Earnings per share were 4 cents.
CoreLogic's operating revenue jumped 21% to $475 million, thanks to growth in the company's property intelligence and risk management and work flow segments.
Total operating expenses also increased 15% year over year to $418 million.
Beyond the operating expenses though, CoreLogic recorded a $23 million charge due to the wind-down of two investments in affiliates. The company also experienced a $2.2 million loss on the early extinguishment of debt and another $23.4 million charge related to its tax indemnification release.
