Lender Processing Services (LPS) turned a first-quarter profit with net earnings of $53.9 million, or $0.63 per diluted share.

This marks an increase of 12.5% when compared to the first quarter 2012, where LPS reported an increase of $47.1 million, or $0.56 per diluted share. 

Revenue was $471.7 million in the first quarter 2013, a decrease of 2.9% from the prior year quarter.  

The company cites lower default services revenue resulting from a decline in industry foreclosure volume.

This was partially offset by higher revenue in origination services.

First quarter 2013 operating income increased 6.7% from the prior year quarter to $99.4 million due to higher contributions in part from the origination services.