Altisource 4Q income up more than 200%
[Update 1: removed reference to revenue estimates by a stock analyst; the original story incorrectly attributed these estimates to Altisource.] Altisource Portfolio Solutions (ASPS) fourth quarter income escalated more than two-fold, as the firm's mortgage segment boosted revenues 62.5%. The Luxembourg-based company earned $19.6 million, or 64 cents a share, up from $5.9 million, or 24 cents a share, in the same period of 2009 — a difference of 232.2%. For the three months ended Dec. 31, Altisource raked in $91.5 million in revenue, up from $56.3 million in the fourth quarter of 2009. Revenue from mortgage services totaled nearly $67 million, while $14.3 million was attributable to the firm's financial services sector and about $15 million was attributable to technology services. Altisource expanded its mortgage services platform nationwide, contributing to revenue boost. The firm also said its largest customer, Ocwen Financial Corp., substantially expanded its residential loan portfolio with a $6.9 billion servicing portfolio acquisition from HomEq. For the fiscal year 2010, Altisource reported a net income of $56.2 million, or $1.88, up from almost $26 million, or $1.07, in 2009. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.