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Lender Processing Services, Inc. Message Board

  • adspatz adspatz Oct 22, 2013 10:58 AM Flag

    Lender Processing Services revenue drops 16%

    Search for "SEC Live Filings Digest" to find out more.
    Lender Processing Services, Inc. (LPS) made its earnings announcement for the third quarter, reporting a 16% drop in revenue. The company, a provider of technology and data services to the real estate and mortgage industries, reported quarterly revenue of $419.0M, down 15.8% from the $497.5M reported a year earlier. Earnings were down as well, from $58.3M and $0.69 per share in the year-ago quarter to $35.5M and $0.41 per share. Earlier this year, LPS entered a merger agreement under which Fidelity National Financial would acquire the company. Regarding the company’s performance, president and CEO Hugh Harris commented that LPS recently signed a five year contract with a major client and that it is adjusting to market changes.

 

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