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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited quarterly results
The operating results for any quarter are not necessarily indicative of results for any future period. Our business is affected by seasonality.
 
 
2016 quarter ended (1)(2)(3)
(in thousands, except per share data)
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
 
 
 
 
 
 
 
Revenue
 
$
250,132

 
$
255,799

 
$
252,745

 
$
238,627

Gross profit
 
81,269

 
81,428

 
78,743

 
65,818

Income (loss) before income taxes and non-controlling interests
 
21,085

 
23,977

 
18,796

 
(19,537
)
Net income (loss)
 
18,892

 
20,686

 
11,472

 
(19,664
)
Net income (loss) attributable to Altisource
 
18,494

 
19,994

 
10,589

 
(20,384
)
 
 
 
 
 
 
 
 
 
Earnings (loss) per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.98

 
$
1.08

 
$
0.57

 
$
(1.08
)
Diluted
 
$
0.92

 
$
1.02

 
$
0.54

 
$
(1.08
)
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
Basic
 
18,855

 
18,437

 
18,715

 
18,788

Diluted
 
20,040

 
19,604

 
19,568

 
18,788

 
 
2015 quarter ended (1)(4)(5)(6)
(in thousands, except per share data)
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
 
 
 
 
 
 
 
Revenue
 
$
240,482

 
$
268,321

 
$
272,776

 
$
269,887

Gross profit
 
67,656

 
100,162

 
98,926

 
97,395

Income (loss) before income taxes and non-controlling interests
 
4,808

 
51,244

 
41,200

 
(44,192
)
Net income (loss)
 
4,408

 
46,846

 
37,897

 
(44,351
)
Net income (loss) attributable to Altisource
 
3,698

 
45,950

 
37,046

 
(45,096
)
 
 
 
 
 
 
 
 
 
Earnings (loss) per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.18

 
$
2.35

 
$
1.94

 
$
(2.35
)
Diluted
 
$
0.18

 
$
2.22

 
$
1.82

 
$
(2.35
)
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
Basic
 
20,172

 
19,571

 
19,091

 
19,196

Diluted
 
20,995

 
20,669

 
20,411

 
19,196

______________________________________
(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) 
We acquired Granite on July 29, 2016 (see Note 5).
(3) 
During the fourth quarter of 2016, Altisource recorded a litigation settlement loss of $32.0 million in connection with a litigation matter. Also during the fourth quarter of 2016, Altisource recorded an insurance recovery related to this litigation settlement of $4.0 million. See Note 23.
(4) 
We acquired CastleLine on July 17, 2015 and RentRange and Investability on October 9, 2015 (see Note 5).
(5) 
During the fourth quarter of 2015, Altisource recorded an estimated loss in connection with an anticipated payment to Ocwen for obtaining a release of liability for Altisource related to Ocwen’s settlement of a particular case.
(6) 
In the fourth quarter of 2015, we recorded impairment losses of $71.8 million in our Technology Services segment primarily driven by the Company’s projected Technology Services revenue from Ocwen and investment in technologies provided to Ocwen (see Note 9 and Note 10).