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SHELTON, CT -- Clayton Holdings, a provider of analytics, consulting and outsourced services for capital market firms, lending institutions, fixed-income investors and loan servicers, reported a net loss despite posting $500,000 in earnings from continuing operations in the second quarter.
But the company reported a net loss of $400,000, or $0.02 per diluted share, once discontinued operations are taken into account.
Clayton said its gross profit margin from continuing operations was 41.4%, up from 35.1% in the year-earlier period.
"As expected, the continuing turmoil in the subprime market significantly reduced our transaction management volumes and revenues in the quarter. Subprime securitization volumes have declined 42% from last year and our volumes declined similarly," said Frank Filipps, chairman and chief executive officer of Clayton, in a news release.
"Our gross profit margin, however, continued to be strong, reaffirming the ...