Tuesday, April 17, 2012

Tree.com's losses deepen after trademark review

After reviewing the value of the LendingTree name, Tree.com reported that its losses were deeper than initially reported for the year 2011.

Under the revised numbers, the Charlotte company lost $59.5 million over the year. In February, Tree.com reported 2011 losses of $45.8 million.

The losses associated with the trademark are non-cash charges. The initial results included a $5.9 million markdown. After the review, it jumped to $29 million.

The new numbers came out in a securities filing and annual report released Tuesday. The trademark review delayed the issuance of the annual report.

The company's stock (Nasdaq: TREE) was up nearly 3 percent today.

Tree.com's fourth quarter was still considered a success as the company transforms back into a purely lead generation company from its foray into its own lending.

The company maintained the same predictions for 2012: earnings between $3 million and $4 million from its core business.