PHH Q4 Profit Declines

(RTTNews) - PHH Corp. (PHH) Tuesday said fourth-quarter net income attributable to the company was $45 million or $0.67 per share, compared to $58 million or $0.89 per share in the same period last year. Core earnings per share for the latest fourth quarter plunged to $0.28 from $0.81 last year.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues decreased to $675 million from $783 million last year, while six analysts expected revenues of $636.43 million.