Businessweek

Lender Processing Services (LPS) has agreed to pay $14 million to settle claims the company deceived investors about its business practices. The agreement would end a lawsuit filed in 2010 that charged the mortgage processing company with entering into improper fee arrangements with attorneys, signing documents without regard to their accuracy and other practices designed to push through as many foreclosure as possible over roughly two years starting in July 2008.

Lender Processing Services, Inc. Presents at Jefferies 2013 Global Technology, Media and Telecom Conference, May-07-2013 04:30 PM. Venue: The Westin New York, Times Square Hotel, New York, New York, United States. Speakers: Thomas L. Schilling, Chief Financial Officer and Executive Vice President.

Lender Processing Services, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue was $471.66 million against $485.79 million a year ago. The company's focus on higher return businesses and disciplined cost management drove an expansion of EBITDA margin to 27% in the quarter, up from 24% in the year-ago quarter. First quarter revenue fell 3% from the year-ago quarter as growth in Technology, Data & Analytics and Origination Services was offset by declines in Default Services revenue that primarily resulted from a decline in industry foreclosure volume. Operating income was $99.43 million against $93.21 million a year ago, due to higher contributions from TD&A and Origination Services. Earnings from continuing operations before income taxes were $86.5 million against $77.34 million a year ago. Net earnings from continuing operations were $54.5 million against $48.49 million a year ago. Net earnings were $53.93 million against $47.12 million a year ago. Net earnings per diluted share from continuing operations were $0.64 against $0.58 a year ago. Net earnings per diluted share were $0.63 against $0.56 a year ago. Net cash used in operating activities was $97.54 million against net cash from operating activities of $90.05 million a year ago. This decrease was primarily due to the payment of previously announced settlements for legacy legal and regulatory matters in the first quarter 2013. Additions to property and equipment were $8.74 million against $6.6 million a year ago. Additions to capitalized software were $19.404 million against $17.124 million a year ago. Adjusted operating income was $99.43 million against $93.21 million a year ago. Adjusted EBITDA was $125.5 million against $117.12 million a year ago. Based on the current environment, the company expects second quarter 2013 revenue to be in the range of $460 million to $480 million and adjusted net earnings per diluted share from continuing operations to be in the range of $0.63 to $0.67.

Lender Processing Services, Inc. announced a regular quarterly dividend of $0.10 per common share. The dividend is payable on June 13, 2013, to shareholders of record as of the close of business on May 30, 2013.

Lender Processing Services, Inc., Q1 2013 Earnings Call, Apr 25, 2013