Walter Investment Management Corp. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Goodwill Impairment for the Fourth Quarter of 2016
For the year, the company reported total revenues of $995,717,000 compared to $1,274,259,000 a year ago. Loss before income taxes was $789,818,000 compared to $404,426,000 a year ago. Net loss was $529,158,000 or $14.71 per basic and diluted share compared to $263,190,000 or $7.00 per basic and diluted share a year ago. Adjusted loss was $131,317,000 compared to adjusted earnings of $60,599,000 a year ago. Adjusted EBITDA was $322,925,000 compared to $549,719,000 a year ago. Cash flows provided by operating activities was $21.7 million compared to cash flows used in operating activities of $117.3 million a year ago.
For the quarter, the company reported goodwill impairment of $13,158,000 compared to $151,018,000 a year ago.