Walter Investment Management Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2016; Announces Goodwill and Intangible Assets Impairment for the Third Quarter Ended September 30, 2016
For the first nine months, the company announced total revenues of $551,574,000 compared to $942,683,000 for the same period a year ago. Loss before income taxes was $816,658,000 compared to $196,235,000 for the same period a year ago. Net loss was $506,929,000 compared to $146,055,000 for the same period a year ago. Basic and diluted loss per common and common equivalent share was $14.15 compared to $3.87 for the same period a year ago. Adjusted EBITDA was $279.6 million compared to $448.5 million for the same period a year ago. Adjusted loss was $34.9 million or $0.60 per common and common equivalent share compared to adjusted income of $128.0 million or $2.10 per common and common equivalent share for the same period a year ago.
For the third quarter ended September 30, 2016, the company announced goodwill and intangible assets impairment of $97,716,000.