Altisource Portfolio Solutions: Plunges on bigger quarterly loss

Altisource Portfolio Solutions SA

06/03/2020 20:50

** Shares of real estate services provider  ASPS.O  down
~28% at $10.46
    ** Net loss attributable widens to $306.1 mln from $11.5 mln
a year earlier  urn:newsml:reuters.com:*:nGNXK6GKm
    ** Co incurred write-offs on goodwill and intangible assets
in connection with wind down of Owners.com and related to exit
of the BRS business, among others
    ** Q4 service revenue fell 37% to $132.6 mln, primarily due
to sale of financial services business
    ** Believe we grow revenue by 25%-30% in 2020 despite the
very challenging environment, where industry-wide delinquencies
are at their lowest level on record - CEO
    ** On an adjusted basis, co reported a profit of 26
cents/shr, missing estimates of 47 cents/shr  
    ** Stock down 47.3% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))