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Phh Corp

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BUSINESS
August 27, 1991
This Hunt Valley-based multinational business management services company reported yesterday that the worldwide economic downturn had dragged down net income during its fiscal first quarter, which ended July 31, although revenues were up slightly more than 2 percent from the comparable period a year ago.Chairman and Chief Executive Officer Robert D. Kunisch attributed the earnings decline to the recession and its effect on companies served by PHH, whose...
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BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | March 16, 2007
PHH Arval, the auto fleet management business founded in Baltimore more than 60 years ago, will become part of a corporate giant for the second time in a decade. GE Capital Solutions, the leasing, financing and asset management unit of General Electric Co., said yesterday that it will buy all of PHH Corp. for $1.8 billion, integrate the Sparks-based fleet management business with its own and immediately sell off the Mount Laurel, N.J., residential mortgage business to the Blackstone Group, a private investment firm, for an undisclosed amount.
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BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | November 22, 1994
Buoyed by a continuing shift to fee-based income, PHH Corp. yesterday reported record earnings for the second quarter.The Hunt Valley-based company said earnings were $17.6 million, or $1.01 a share, for the period ended Oct. 31. Likewise, earnings for the six-month period hit a new high of $34.1 million, or $1.96 a share."
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | July 22, 2006
PHH Corp., a mortgage and fleet management company with a large operation in Sparks, said yesterday that it must restate almost five years of earnings after an audit found glaring errors in its financial statements. The company, which has its headquarters in Mount Laurel, N.J., previously acknowledged that it has "material weaknesses" in its books. It failed to file an annual report required by the Securities and Exchange Commission for 2005. It also has missed quarterly filings through June this year.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | March 31, 1995
PHH Corp. grew into a $2 billion service company by selling its vehicle management, employee relocation and mortgage services to corporations and never cared whether Joe or Jane Consumer even knew its name.Until now.For the first time in its 39-year history, the Hunt Valley-based company has started advertising to the general public.In tests planned to run through May, PHH is airing radio ads in Baltimore for its new Driver's One auto club, and radio and newspaper ads in Indianapolis for its mortgages.
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | July 22, 2006
PHH Corp., a mortgage and fleet management company with a large operation in Sparks, said yesterday that it must restate almost five years of earnings after an audit found glaring errors in its financial statements. The company, which has its headquarters in Mount Laurel, N.J., previously acknowledged that it has "material weaknesses" in its books. It failed to file an annual report required by the Securities and Exchange Commission for 2005. It also has missed quarterly filings through June this year.
BUSINESS
By a Sun Staff Writer | June 29, 1995
The board of directors of PHH Corp. voted yesterday to raise the company's quarterly dividend on its common stock by 2 cents, to 34 cents per share.The Hunt Valley-based corporate services company wanted to raise the payout by 6 percent because it aims to pay out 30 percent to 35 percent of its earnings in dividends, and its earnings have been rising in the past several years, said Chief Financial Officer Roy Meierhenry.Also contributing to the upward pressure on the dividend: an $8 rise in PHH's stock price over the past three months.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | February 21, 1996
PHH Corp. of Hunt Valley said its third-quarter earnings rose 12 percent, as its mortgage-lending and auto-leasing businesses grew strongly enough to offset a decline in the firm's real estate services business.PHH said it earned $19.5 million during the three months that ended Jan. 31, or $1.10 a share. Revenue was $586.7 million, up 19 percent. For the nine months, revenues are up 15 percent to $1.8 billion and per-share profits up 11 percent to $3.27.While the third-quarter performance was better than the 98 cents a share PHH earned in the comparable period of fiscal 1995, it was marginally below the mean analyst estimate of $1.12 a share.
NEWS
By Fred Rasmussen and Fred Rasmussen,Sun Staff Writer | March 12, 1994
John S. Lalley, retired chairman of the board and chief executive officer of the PHH Corp., died Wednesday of cancer at the Johns Hopkins Hospital. The Cross Keys resident was 67.He retired in 1981 from the Hunt Valley-based automobile fleet management and leasing and business services company, which he joined in 1952. He became a vice president in 1957, senior vice president in 1963 and president and director in 1966. That appointment marked the first time control of the company's day-to-day operations was not in the hands of its founders.
BUSINESS
June 1, 1991
PHH Corp. has reported a decline in earnings per share and income from continuing operations for its fiscal fourth quarter, which ended April 30.Income from continuing operations was $12.7 million, vs. $15.9 million for the same quarter in 1990."
BUSINESS
By JAY HANCOCK and JAY HANCOCK,SUN COLUMNIST | July 19, 2006
Taking on an accounting project and defending against shareholder lawsuits probably weren't what A.B. "Buzzy" Krongard anticipated when he re-entered the public spotlight last year from the shadows of the CIA. But that's what he's gotten as chairman of PHH Corp., an ungainly chimera of a company that can't close the books on last year or the first quarter and doesn't know when it can. Combine that with an increasingly difficult mortgage market - PHH's biggest business - and you've got a challenge that belies the "retirement" that Krongard, 69, is supposed to be enjoying.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 1, 2005
Cendant Corp. said yesterday that it completed the spinoff of its mortgage and locally based PHH Arval fleet management businesses to shareholders. Stock in the newly combined company, called PHH Corp., is expected to start trading today on the New York Stock Exchange under the symbol "PHH." It's unclear whether the spinoff will have any immediate impact on PHH Mortgage, formerly Cendant Mortgage, based in Mount Laurel, N.Y., and PHH Arval, the fleet management services business based in Sparks.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 13, 2004
Cendant Corp. will spin off its mortgage and locally based PHH Arval fleet-services businesses to shareholders, a move the parent says should benefit investors while causing little in the way of fallout for the company's large Baltimore County work force. PHH Arval is based in Sparks, where it employs about 1,000. "There will be no impact to the employees based down there" in Maryland, said Elliot Bloom, a spokesman for Cendant in New York. That unit "will continue operating as PHH Arval, and there will be no impact to it."
NEWS
By MICHAEL OLESKER | January 22, 1998
There's no emotional insurance for the folks at USF&G, not after this week's announcement that the firm is being sold to a Minnesota company, and not after talk of maybe 1,500 jobs being lost, and notwithstanding the outwardly confident mood of employees filing out of work the other day.The employees said they were hopeful things would work out fine. They said company executives had assured them that many Baltimore jobs could be saved. Of course, the employees said this with television cameras pointing at their faces, but we'll deal with that matter in a moment.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | February 19, 1997
In what is likely its last earnings report as an independent company, PHH Corp. yesterday said that net income for the third quarter jumped 52 percent.For the three-month period that ended Jan. 31, the Hunt Valley-based company with vehicle management, corporate relocation and mortgage banking services reported net income of $29.6 million -- up from $19.5 million in the year-ago period."Third-quarter performance reached record levels primarily through increased revenue," PHH Chairman and CEO Robert D. Kunisch said in a statement.
NEWS
By Sean Somerville and Sean Somerville,SUN STAFF | November 12, 1996
PHH Corp., founded in Baltimore 50 years ago by Duane L. Peterson, Richard M. Heather and Harley W. Howell, grew from a small partnership that managed company cars into one of the world's leading companies in automobile fleet management, corporate relocations and mortgage banking.The founders worked in a partnership until 1954, when they formed the corporation of Peterson, Howell & Heather Inc., then called PH&H. During the 1950s, the company formed divisions in Canada and the United Kingdom.
BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | November 29, 1991
PHH Corp. had slightly higher earnings for the second quarter, reporting a net income of $10.6 million, or 62 cents a share, compared with $10.5 million, or 62 cents a share, posted during the same quarter a year ago.Revenues for the second fiscal quarter ending Oct. 31 were $449 million compared with $502 million for the prior year period.Year-to-date net income was $21.7 million, or $1.28 a share, compared with $22.4 million, or $1.32, in the prioryear. Revenues for the first six months were $956 million compared with $996 million.
BUSINESS
November 30, 1993
PHH Corp.Ticker .. .. .. .. .. Yesterday'sSymbol .. .. .. .. .. Cls. .. .. .. Chg.PHH . .. .. .. .. .. .41 5/8 .. .. + 1/2Period endedOct. 31 .. .. .. .. 2nd qtr. .. .. .. ..Year ago .. .. Chg.Revenue .. .. .. .. $545,374 .. .. .. ..$504,057 .. .. +8.2%Net Income .. .. .. $16,203.. .. .. .. ..$12,757 .. ..+27.0%Primary EPS .. .. ..$0.90.. .. .. .. .. $0.73 ..... ..+23.3%.. .. .. .. .. .. .. 6 mos. .. .. .. .. .. Year ago .. ..Chg.Revenue .. .. .. .. $1,083,944 .. .. .. .. $1,017,323 .. +6.5%Net Income .. .. .. .. $30,992 .. .. .. .. .. $25,396 .. +22.0%Primary EPS..
BUSINESS
October 21, 1996
Below are insider transactions of 1,000 shares or more for publicly held companies based in Maryland or having substantial operations here. Insiders are officers, directors or owners of 10 percent or more of a corporation's stock.Davco Restaurants Inc.Byron L. Knief,director, sold 5,472 shares of common stock at $8.63 each Sept. 19 and now directly holds 40,000 common.Florida Rock IndustriesEdward L. Engle Baker,chairman, disposed of, by gift, 782 shares of common at an unreported price Aug. 26. Baker indirectly acquired by gift 782 shares of common at an unreported price that same day and now directly and indirectly holds 2,243,245 common.
BUSINESS
June 25, 1996
PHH raises dividend, plans 2-1 stock splitPHH Corp. said yesterday that it raised its quarterly dividend 12 percent and plans to split its stock.The 2-for-1 stock split would give shareholders an additional share of PHH for each share they own. The new shares will be issued July 31 to shareholders of record July 5."For the past 18 quarters, PHH has produced significant earnings growth, and the stock market has begun to recognize PHH as a company with strong earnings potential," PHH Chief Executive Robert Kunisch said in a statement.
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