Walter Investment Management Corp. Reports Earnings for the Fourth Quarter and Year Ended December 31, 2016; Reports Goodwill Impairment Charges for the Fourth Quarter
For the year, the company reported a GAAP net loss of $529.2 million, or $14.71 per share, as compared to a GAAP net loss of $263.2 million, or $7.00 per share for the year ended December 31, 2015. The 2016 net loss includes goodwill and intangible assets impairment charges of $202.3 million after tax, or $5.62 per share, and non-cash charges of $140.7 million after tax, or $3.91 per share, resulting from fair value changes due to changes in valuation inputs and other assumptions. Adjusted EBITDA was $322.9 million and adjusted loss was $81.4 million after tax, or $2.26 per share.
For the quarter, the company reported goodwill impairment charges of $8.2 million after tax, or $0.22 per share.