QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2013

QUARTERLY FINANCIAL DATA (UNAUDITED)

QUARTERLY FINANCIAL DATA (UNAUDITED)

23.  QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables contain selected unaudited statement of operations information for each quarter of 2013 and 2012. The following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period. Our business is affected by seasonality.

Unaudited quarterly results are as follows:

	2013 quarter ended(1)(2)
(in thousands, except per share data)	March 31,		June 30,		September 30,		December 31,
Revenue	$	148,827	$	186,110	$	210,835	$	222,585
Gross profit	51,865		69,138		76,574		78,300
Income before income taxes and non-controlling interests	30,678		34,485		38,614		38,556
Net income	28,527		32,068		36,955		36,243
Net income attributable to Altisource	27,518		30,931		36,008		35,516
Earnings per share:
Basic	$	1.18	$	1.34	$	1.56	$	1.56
Diluted	$	1.10	$	1.25	$	1.42	$	1.42
Weighted average shares outstanding:
Basic	23,374		23,161		23,025		22,734
Diluted	25,058		24,823		25,333		25,005

	2012 quarter ended(1)
(in thousands, except per share data)	March 31,		June 30,		September 30,		December 31,
Revenue	$	139,066	$	144,205	$	143,988	$	141,101
Gross profit	47,306		51,467		49,701		53,685
Income before income taxes and non-controlling interests	29,940		32,128		30,982		31,599
Net income	27,121		29,352		28,084		31,354
Net income attributable to Altisource	25,229		28,081		27,024		30,293
Earnings per share:
Basic	$	1.08	$	1.20	$	1.16	$	1.30
Diluted	$	1.02	$	1.13	$	1.08	$	1.20
Weighted average shares outstanding:
Basic	23,381		23,316		23,338		23,389
Diluted	24,844		24,846		25,016		25,162

(1) The sum of quarterly amounts, including per share amounts, may not equal amounts reported for year-to-date periods.  This is due to the effects of rounding and changes in the number of weighted-average shares outstanding for each period.

(2) On March 29, 2013, we acquired the Homeward fee-based businesses.  On April 12, 2013, we completed the ResCap fee-based business transaction.  On November 15, 2013, we acquired Equator (see Note 5).