E*TRADE Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. The company announced results for its fourth quarter ended December 31, 2011, reporting a net loss of $6 million, or $0.02 loss per share. This compares with net income of $71 million, or $0.24 earnings per share in the prior quarter, and a net loss of $24 million, or $0.11 loss per share in the fourth quarter of 2010. The company reported total net revenue of $475 million for the fourth quarter, compared with $507 million in the prior quarter and $518 million in the year-ago period. The company reported income before other income and income tax expense of $47.7 million, income before income tax expense of $0.8 million against income before other income and income tax expense of $19.5 million, loss before income tax expense of $25.0 million for the same period a year ago. The company reported book value per share of $17.27 against $18.35 for the same period a year ago. EBITDA of $74.3 million compared with $47.2 million for the same period a year ago. For the year ended December 31, 2011, the company reported income before other income and income tax expense of $361.1 million, income before income tax expense of $185.3 million and net income of $156.7 million or $0.54 diluted per share on total net revenues of $2.0 billion against income before other income and income tax expense of $155.9 million, loss before income tax expense of $3.1 million and net loss of $28.5 million or $0.13 diluted per share on total net revenues of $2.1 billion for the same period a year ago. Net charge-offs in the quarter declined $37 million from the third quarter to $120 million, which reflected the impact of the $46 million repurchase settlement recovery, and the $15 million in write-downs to certain loans in the process of foreclosure.