Mortgage investment company Altisource Portfolio Solutions S.A. (ASPS), Thursday reported an increase in profit for the first quarter as revenues increased.
Net income attributable to Altisource for the quarter improved to $27.5 million or $1.10 per share from $25.2 million or $1.02 per share last year.
Service revenues increased to $127.6 million from $108.5 million last year.
Gross margin dropped to 41 percent from 44 percent last year, largely due to higher compensation costs in technology services segment.
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