Contifinancial reported a loss of $58.8 million for its third fiscal quarter, including $44.2 million in pretax charges related to writedowns and other costs related to the company's downsizing.

Conti said its loss for the nine months ended Dec. 31 reached $167.0 million. The subprime specialist earned $35.1 million in the third quarter of its previous fiscal year, and $96.9 million for the first nine months of that year.

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