Lender Processing Services Q3 Profit Down - Quick Facts

(RTTNews) - Lender Processing Services, Inc. (LPS) reported third-quarter GAAP net earnings of $35.5 million or $0.41 per share, compared to $58.3 million, or $0.69 per share, in the prior year quarter..

Third quarter 2013 adjusted net earnings were $44.0 million, or $0.51 per share. On average, 5 analysts polled by Thomson Reuters expected the company to report profit of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenue was $419.0 million, a decrease of 15.8% from $497.5 million in the prior year quarter, primarily due to lower contributions from Origination and Default Services. Analysts expected revenue of $428.60 million for the quarter.