Altisource Portfolio Q4 Earnings Rise

(RTTNews) - Altisource Portfolio Solutions S.A. (ASPS), a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries, Thursday reported a rise in earnings for the fourth quarter, supported by a substantial growth in revenue.

Earnings attributable to the company increased to $35.52 million, or $1.42 per share, from $30.29 million, or $1.20 per share, in the corresponding period last year.

One analyst polled by Thomson-Reuters estimated the company's earnings to be $1.24 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue surged to $222.58 million from $141.1 million a year earlier.

The company said, "During 2013, we focused on providing high quality services to our largest customer, Ocwen, improving our margins in our default related services businesses and developing our growth engines."

For the full year 2013, the company reported earnings of $129.97 million, or $5.19 per share, compared with $110.63 million, or $4.43 per share, in 2012. Yearly sales rose to $768.36 million from $568.36 million last year.