CoreLogic® (NYSE:CLGX), a leading provider of consumer, financial and property information, analytics and services, today provided a market update on 2011 and 2012 financial guidance.
“CoreLogic is exiting 2011 with strong momentum driven primarily by an upswing in mortgage origination volumes and successful execution of our Project 30 cost reduction plan. As a result, we expect CoreLogic to beat our previous guidance for the full year of 2011. Continued revenue growth and cost savings position CoreLogic for strong financial results in 2012,” said Anand Nallathambi, President and Chief Executive Officer.
CoreLogic provided the following Financial Guidance for 2012:
- Adjusted Revenue US$ 1,425 – US$ 1,475 million, Implied Growth 4 – 8%
- Adjusted EBITDA US$ 335 – US$ 360 million, Implied Growth 12 – 20%
- Adjusted EPS US$ 0.95 – US$ 1.05, Implied Growth 20 – 30%
As previously announced on August 29, 2011, CoreLogic’s Board of Directors has created a committee of independent directors to explore a wide range of options aimed at enhancing shareholder value. This review is currently ongoing.