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Friday, Aug 12, 2022
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Countrywide Says It Could Go Shopping

Countrywide Financial Corp. CEO Angelo Mozilo this morning told analysts that the company would consider possible acquisitions to take advantage of an expected consolidation in the mortgage industry. The announcement came as the Calabasas-based mortgage and financial services company reported earnings and revenues that fell short of analysts expectations. Countrywide said net earnings for the fourth quarter increased to $638.9 million or $1.03 per share on revenues of $2.59 billion. The fourth quarter performance compared with earnings of $369.8 million or $0.61 per share in the same period of 2004. Analysts were expecting profits of $1.05 per share and revenues of about $2.69 billion for the quarter.

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