Business
Altisource Announces Fourth Quarter and Full Year 2019 Financial Results
Full Year 2019 Service revenue of $621.9 millionIncome from operations of $18.1 millionAdjusted operating income(1) of $53.4 millionIncome before income taxes
About this update from Altisource Portfolio Solutions S.a.
[{"type":"text","content":"Full Year 2019\n Service revenue of $621.9 millionIncome from operations of $18.1 millionAdjusted operating income(1) of $53.4 millionIncome before income taxes and non-controlling interests of $12.4 millionAdjusted pretax income attributable to Altisource(1) of $31.2 millionAdjusted earnings before interest, tax, depreciation and amortization (“EBITDA”)(1) of $70.8 millionNet loss attributable to Altisource of $(308.0) million, or $(19.26) per diluted shareCertain non-cash income tax expense items totaling $311.2 millionAdjusted net income attributable to Altisource(1) of $21.8 million, or $1.34 per diluted share Fourth Quarter 2019 Service revenue of $132.6 millionLoss from operations of $(6.5) millionAdjusted operating income(1) of $11.3 millionLoss before income taxes and non-controlling interests of $(8.5) millionAdjusted pre-tax income attributable to Altisource(1) of $6.6 millionAdjusted EBITDA(1) of $15.6 millionNet loss attributable to Altisource of $(306.1) million, or $(19.66) per diluted shareCertain non-cash income tax expense items totaling $298.9 millionAdjusted net income attributable to Altisource(1) of $4.1 million, or $0.26 per diluted share LUXEMBOURG, March 05, 2020 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the fourth quarter and full year 2019. “During 2019, we continued to reposition Altisource. We sold and closed certain non-core businesses, consolidated our sales and marketing resources under a seasoned leader, established an innovative product organization and further developed our core Field Services, Marketplace, and Mortgage and Real Estate Solutions businesses. Across our three core businesses, fourth quarter 2019 service revenue from customers other than Ocwen, NRZ and RESI grew by 19% compared to the fourth quarter 2018,” said Chairman and Chief Executive Officer William B. Shepro. Mr. Shepro further commented, “Looking to 2020, our objectives are to accelerate the growth of our core businesses from customers other than Ocwen and NRZ, lower costs, maintain strong liquidity, and reduce debt based upon business and market conditions. We are gaining market share and winning business with some of the largest financial institu...