PHH Swings To Q4 Loss

(RTTNews) - PHH Corp. (PHH) reported a net loss for the fourth quarter of $33 million or $0.66 per share, compared to net income of $45 million or $0.67 per share for the year-ago quarter.

Loss from continuing operations for the fourth quarter was $32 million or $0.62 per share, compare to income from continuing operations of $28 million or $0.41 per share in the prior year quarter.

Excluding items, core loss for the latest quarter was $24 million or $0.47 per share.

Net revenue for the fourth quarter fell to $180 million from $238 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.50 per share on revenue of $149.08 million for the fourth quarter. Analysts' estimates typically exclude special items.