Altisource Portfolio Solutions (ASPS) Posts Q4 Adj-EPS of $0.55

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Go back to Altisource Portfolio Solutions (ASPS) Posts Q4 Adj-EPS of $0.55

Altisource Announces Fourth Quarter And Full Year Financial Results And That The Company Is Actively Exploring Refinancing Its Existing $480 Million Senior Secured Term Loan

February 16, 2017 8:35 AM EST

LUXEMBOURG, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (Altisource or the Company) (NASDAQ: ASPS) today reported financial results for the fourth quarter and full year 2016, reporting strong full year service revenue of $942.6 million.  Compared to 2015, 22% service revenue growth from customers other than Ocwen Financial Corporation (Ocwen) and higher property preservation services offset the expected loss in revenue from Ocwens declining portfolio, lower delinquencies and lower pricing for certain technologies.

Fourth quarter 2016 service revenue of $227.2 million was 5% lower than the third quarter of 2016 from seasonally lower REO sales and... More