Thursday, Lender Processing Services Inc. (LPS) reported third-quarter net income of $75.5 million or $0.78 per share, compared to net income of $51.3 million or $0.54 per share in the same quarter last year.
On an adjusted basis, net income was $80.2 million or $0.83 per share, compared to net income of $57.8 million or $0.61 per share in the year ago quarter.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.77 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated revenues for the quarter was $619.4 million, up 32.7% from $466.8 million in the comparable quarter last year. Analysts expected the company to report revenue of $573.15 million for the quarter.
Looking ahead to the full year 2009, the company expects revenues to grow in the range of 26% - 28% compared to the last year and adjusted earnings to be in the range of $3.07 - $3.09 per share. Previously the company expected revenues to grow 20% - 22% compared to 2008 and adjusted earnings to be in the range of $2.91 - $3.01 per share. Analysts currently anticipate the company to earn $3.00 per share on revenue of $2.27 billion for the full year.
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