LPS posts Q4 loss, forecasts Q1 below Street
(Reuters) – Lender Processing Services (LPS.N) posted a quarterly loss on one-time charges and forecast first-quarter earnings below Wall Street expectations, sending its shares down about 4 percent in after-market trade.
The mortgage servicing provider, which has been sued by the state of Nevada for allegedly engaging in deceptive practices against consumers, expects to earn 50-55 cents a share in the current quarter on revenue of between $470 million and $490 million.
Analysts, on an average, are expecting the company to earn 60 cents a share, before items, on revenue of $526 million, according to Thomson Reuters I/B/E/S.
For the fourth-quarter, the company reported a net loss of $21.2 million, or 25 cents a share.
The company took a pretax charge of $131.7 million, or 94 cents per diluted share in the quarter, of which 63 cents were related to estimated legal and regulatory contingencies.
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