Altisource Portfolio Solutions S.A. (ASPS) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Exhibit 99.1

ALTISOURCE ANNOUNCES FOURTH QUARTER AND FULL YEAR RESULTS

Luxembourg, March 2, 2015 -

Full Year 2014 Results Compared to 2013:

·                  Service revenue of $938.7 million, a 42% increase

·                  Net income attributable to Altisource of $134.5 million, a 3% increase

·                  Diluted earnings per share of $5.69, a 10% increase

·                  Adjusted diluted earnings per share of $7.17, a 15% increase

·                  Cash from operations of $197.5 million, a 6% increase

Fourth Quarter 2014 Results Compared to Fourth Quarter 2013:

·                  Service revenue of $217.8 million, a 13% increase

·                  Net loss attributable to Altisource of $1.5 million compared to net income attributable to Altisource of $35.5 million in the fourth quarter 2013

·                  Diluted loss per share of $0.08 compared to diluted earnings per share of $1.42 in the fourth quarter 2013

·                  Adjusted diluted earnings per share of $0.30, an 83% decrease

·                  Cash from operations of $71.8 million, a 41% increase

Outside of the discontinuation of the lender placed insurance brokerage line of business, the fourth quarter 2014 net loss was from higher costs than in the fourth quarter of 2013, partially as a result of expenses to support anticipated business growth.  To quickly address the change in expectations for Ocwen’s growth, the Company has begun to execute on a plan that includes eliminating non-revenue generating businesses, reducing vendor fees and eliminating staff to reduce costs.

“Our 2014 performance was driven by strong revenue growth.  During 2014, our earnings grew at a lower rate than our revenue as we incurred expenses for people and infrastructure to support a larger Ocwen and certain longer-term initiatives that had no revenue associated with them.  We developed and are implementing a plan to reduce costs and eliminate certain of these initiatives to be a leaner, more focused organization,” said Chief Executive Officer William B. Shepro.

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