Lender Processing Services Turns To Profit In Q2 - Quick Facts

(RTTNews) - Lender Processing Services, Inc. (LPS) reported second-quarter net earnings of $19.1 million, or $0.22 per share, compared to a net loss of $37.9 million, or $0.45 per share, in the prior year quarter. Second quarter 2013 adjusted net earnings from continuing operations were $0.65 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report profit of $0.65 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue was $468.9 million, a decrease of 8.7% from the prior year quarter, due to lower Default Services revenue, partially offset by higher revenue in TD&A and Origination Services. Analysts expected revenue of $469.21 million for the quarter.

The company expects its third-quarter revenue to be in the range of $415 million to $435 million and adjusted net earnings per share from continuing operations to be in the range of $0.51 to $0.55. Analysts expect the company to report third-quarter profit per share of $0.64 on revenue of $457.69 million.