Altisource Portfolio Solutions S.A. (ASPS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Exhibit 99.1

ALTISOURCE ANNOUNCES FOURTH QUARTER AND FULL YEAR RESULTS

Luxembourg, Luxembourg, 13 February 2013

Altisource™ (NASDAQ: ASPS) today reported net income attributable to Altisource of $110.6 million or $4.43 per diluted share for the year ended December 31, 2012, an increase in net income and diluted earnings per share from the year ended December 31, 2011 of 56% and 60%, respectively.  Service revenue was $466.9 million for the year ended December 31, 2012, a 39% increase when compared to the year ended December 31, 2011.

“2012 was a very strong year for Altisource.  We focused on providing high quality services to our largest customer, Ocwen Financial Corporation (“Ocwen”), while intensifying our efforts on our strategic initiatives to diversify and expand our revenue base” said William Shepro, Chief Executive Officer of Altisource.

Net income attributable to Altisource was $30.3 million or $1.20 per diluted share for the quarter ended December 31, 2012, an increase in net income and diluted earnings per share from the quarter ended September 30, 2012 of 12% and 11%, respectively.  Fourth quarter 2012 operating profit margins increased from 26% in the third quarter of 2012 to 27%.

William Erbey, Chairman of the Board of Directors, commented “We are very pleased with the fourth quarter margin expansion particularly given that we incurred $2.7 million of costs in the fourth quarter related to the creation and separation of the residential asset businesses and we were growing the staff required to support the approximate doubling of Ocwen’s private label servicing portfolio.”

Highlights for the year ended December 31, 2012 include:

·                  Capitalized Altisource Residential Corporation (“Residential”) and Altisource Asset Management Corporation (“AAMC”) with $100.0 million and $5.0 million, respectively, and distributed ownership in these entities to Altisource shareholders;

·                  Relaunched the consumer real estate portal under the new HubzuTM brand; over 25,000 real estate owned (“REO”) assets were sold through Hubzu during the year;

·                  Recognized origination related service revenue of $37.8 million, representing a 72% increase over the year ended December 31, 2011;

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