CoreLogic lifts 2012 financial outlook

Associated Press

SANTA ANA, Calif. (AP) — CoreLogic Inc. boosted its full-year adjusted earnings and revenue forecasts on Thursday, citing cost saving efforts, better profitability in its operating segments and a more optimistic outlook for mortgage originations.

Its shares rose almost 6 percent in premarket trading.

The data tracker now expects 2012 adjusted earnings of $1.15 to $1.20 per share on revenue between $1.45 billion and $1.48 billion. It previously predicted adjusted earnings of $1 to $1.05 per share on revenue in a range of $1.4 billion to $1.45 billion.

Analysts polled by FactSet expect earnings of $1.06 per share on revenue of $1.44 billion.

The Santa Ana, Calif., company's stock gained $1.01, or 5.8 percent, to $18.41 in premarket trading.

Earlier this month CoreLogic announced that it settled a proxy fight with one of its biggest shareholders, saying it would nominate three independent directors to its board and Chairman D. Van Skilling will retire in 2014.

CoreLogic will report its second-quarter financial results on July 23.