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FOR IMMEDIATE RELEASE | FOR FURTHER INFORMATION CONTACT: |
Michelle D. Esterman | |
Chief Financial Officer | |
T: +352 2469 7950 | |
E: Michelle.Esterman@altisource.com |
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Altisource Portfolio Solutions S.A.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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If any of the following events occurred, Altisources revenue could be significantly lower and our results of operations could be materially adversely affected, including from the possible impairment or write-off of goodwill, intangible assets, property and equipment, other assets and accounts receivable:
Decreases in SG&A were also due to lower occupancy costs, driven by initiatives to reduce our facilities footprint in 2017 and 2018, and for the nine months ended September 30, 2018, due to a decrease in other from unfavorable loss accrual adjustments of $2.7 million recorded in the second quarter of 2017 no comparative amounts in 2018.
The decrease in cash flows from operations for the nine months ended September 30, 2018, compared to the nine months ended September 30, 2017, was primarily due to lower net income, adjusted for non-cash items, of $24.8 million, a decrease of 30% compared to the nine months ended September 30, 2017, partially offset by a reduction in cash used for changes in operating assets and liabilities.
Principally, we intend to use cash to develop and grow complementary services and businesses that we believe will generate attractive margins in line with our core capabilities and strategy.
In addition, SG&A included increases in professional services, due to increased legal and professional services costs in connection with certain legal and regulatory matters.
Income from operations increased to...Read more
Gross loss as a percent...Read more
These additional losses could result...Read more
Gross profit as a percentage...Read more
The increases in SG&A were...Read more
The increases in service revenue...Read more
We expect to incur additional...Read more
We expect to incur additional...Read more
In addition, lower occupancy costs...Read more
However, in the event one...Read more
Gross loss increased to $10.2...Read more
We are authorized to purchase...Read more
In addition to the above,...Read more
The decrease in net income,...Read more
Based on our preliminary analysis,...Read more
Based on our preliminary analysis,...Read more
For the nine months ended...Read more
Our Servicer Solutions, Origination Solutions,...Read more
Operating cash flows can be...Read more
Operating income as a percentage...Read more
The increase in other expenses,...Read more
The increase in other expenses,...Read more
Following the anticipated execution of...Read more
Cash flows from investing activities...Read more
For example, Ocwen may be...Read more
The decline in compensation and...Read more
to the gain on sale...Read more
We recognized service revenue of...Read more
Altisource may incur incremental indebtedness...Read more
Each of our strategic businesses...Read more
For the nine months ended...Read more
In addition to the scheduled...Read more
The decreases in service revenue...Read more
This category also includes professional...Read more
We are focused on becoming...Read more
We are focused on growing...Read more
We are focused on growing...Read more
We are focused on growing...Read more
During the nine months ended...Read more
During the nine months ended...Read more
assumptions about our ability to...Read more
As of September 30, 2018,...Read more
In addition, gross loss as...Read more
The decrease in reimbursable expense...Read more
In August 2018, we initiated...Read more
In August 2018, we initiated...Read more
There were no similar repurchases...Read more
It also includes costs related...Read more
Revenues from property sales and...Read more
Revenue in the asset recovery...Read more
Decreases in SG&A were reported...Read more
The decreases in outside fees...Read more
There were no borrowings outstanding...Read more
As another example, on May...Read more
There can be no assurance...Read more
The decreases in reimbursable expense...Read more
resources, vendor management, facilities, risk...Read more
We have a customer base...Read more
Unrealized gain loss on investments...Read more
More specifically, revenues from property...Read more
Revenues from property sales, loan...Read more
During the nine months ended...Read more
In addition, decreases in SG&A...Read more
The Company is analyzing its...Read more
The decrease in cash used...Read more
Effective January 1, 2018, other...Read more
Effective January 1, 2018, other...Read more
As the Company completes its...Read more
Additional regulatory actions or adverse...Read more
The decreases in outside fees...Read more
Through this business, we provide...Read more
For the nine months ended...Read more
In addition, decreases in compensation...Read more
Gross profit decreased to $181.9...Read more
Further, we believe we are...Read more
We believe these businesses operate...Read more
Cash flows from financing activities...Read more
On May 15, 2018, our...Read more
All amounts outstanding under the...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Altisource Portfolio Solutions S.A. provided additional information to their SEC Filing as exhibits
Ticker: ASPS
CIK: 1462418
Form Type: 10-Q Quarterly Report
Accession Number: 0001462418-18-000055
Submitted to the SEC: Thu Oct 25 2018 8:04:27 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Miscellaneous Business Services