CALABASAS, Calif. - Countrywide Credit Industries earned $99.8 million in its fiscal fourth quarter, which ended Feb. 29, off 2% from a year earlier.Earnings per share were 87 cents, up 1.16%. However, a corporate reorganization resulted in a $25 million nonrecurring gain that accounted for 22 cents per share of those earnings.

Without that one-time gain, operating earnings were 65 cents per share. That was one cent higher than the average of estimates from analysts polled by First Call/Thomson Financial - but off 24% from a year earlier.

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