PHH Corp Slips To Loss - Quick Facts

(RTTNews) - PHH Corp (PHH), a provider of outsourced mortgage and fleet management services, Thursday reported second-quarter net loss of $59 million or $1.02 per share, compared with net income of $90 million or $1.40 per share last year.

Excluding items, core loss for the quarter was unchanged from last year at $0.31 per share.

Revenue for the quarter was $196 million, compared with $415 million in the prior year.

CEO Glen Messina said, "While our second quarter results continue to reflect a highly-challenging industry environment, we are reducing costs and gaining share in the retail home purchase mortgage market."