The Dolan Co Lowers FY 2012 Earnings Guidance
The Dolan Co announced that it is revising its fiscal 2012 guidance and expects adjusted EBITDA to be in the range of $42-$44 million and cash earnings per diluted share to be in the range $0.46-$0.50. This guidance presumes the following: continued file volume pressure for the default mortgage processing business; interest expense of $9.2-$9.4 million; tax rate of 40%-41%; and fully diluted shares outstanding of 30.4 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $42 million.
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