Black Knight InfoServ 8-K Results of Operations and Financial Condition

Lender Processing Services, Inc.
Supplemental Financial Schedules
August 1, 2008

The purpose of the attached appendices is to provide historical quarterly financial data of Lender Processing Services, Inc. (“LPS”), which had not previously been released at a detailed level, for the following periods: the three months ended March 31, 2006; the three month periods ended June 30, 2007 and 2006; the three month periods ended September 30, 2007 and 2006; and the three month periods ended December 31, 2007 and 2006.

The attached appendices contain financial information determined by methods other than in accordance with generally accepted accounting principles (“GAAP”). The non-GAAP measures are reconciled to GAAP measures within the appendices.

Appendix A

Lender Processing Services, Inc.
Segment Operating Income and Depreciation and Amortization - Unaudited
(in thousands)

													Full Year															Full Year
	Q1 2006			Q2 2006			Q3 2006			Q4 2006			2006			Q1 2007			Q2 2007			Q3 2007			Q4 2007			2007			Q1 2008
Technology, Data and Analytics (TD&A)
Processing and services revenues
Mortgage processing revenue	$	81,479		$	78,682		$	82,857		$	81,537		$	324,555		$	82,298		$	83,233		$	81,256		$	92,883		$	339,670		$	80,166
Other TD&A		51,430			57,197			55,503			58,276			222,406			60,078			58,776			58,593			53,029			230,476			55,658
Total processing and services revenues		132,909			135,879			138,360			139,813			546,961			142,376			142,009			139,849			145,912			570,146			135,824
Cost of revenues		76,483			73,727			73,069			76,417			299,696			82,121			78,187			78,391			75,048			313,747			74,110
Gross Profit		56,426			62,152			65,291			63,396			247,265			60,255			63,822			61,458			70,864			256,399			61,714
Selling, general and administrative expenses		17,102			17,178			15,790			17,662			67,732			15,822			16,954			16,319			15,675			64,770			16,258
Operating income	$	39,324		$	44,974		$	49,501		$	45,734		$	179,533		$	44,433		$	46,868		$	45,139		$	55,189		$	191,629		$	45,456
																-
Depreciation and amortization	$	18,334		$	16,541		$	16,293		$	18,413		$	69,581		$	18,182		$	17,437		$	16,958		$	16,143		$	68,720		$	16,015
																-
Loan Transaction Services
Processing and services revenues
Loan facilitation	$	150,522		$	147,135		$	164,642		$	160,816		$	623,115		$	157,713		$	177,710		$	166,546		$	150,889		$	652,858		$	151,205
Default services		59,514			61,450			72,711			84,161			277,836			101,539			103,967			122,710			144,805			473,021			169,025
Total processing and services revenues		210,036			208,585			237,353			244,977			900,951			259,252			281,677			289,256			295,694			1,125,879			320,230
Cost of revenues		133,514			132,811			155,984			164,731			587,040			176,993			192,174			184,595			196,412			750,174			219,456
Gross Profit		76,522			75,774			81,369			80,246			313,911			82,259			89,503			104,661			99,282			375,705			100,774
Selling, general and admin expenses		28,053			26,829			27,221			25,452			107,555			27,042			27,711			28,351			27,028			110,132			28,463
Operating income	$	48,469		$	48,945		$	54,148		$	54,794		$	206,356		$	55,217		$	61,792		$	76,310		$	72,254		$	265,573		$	72,311
																-
Depreciation and amortization	$	7,700		$	9,000		$	8,308		$	7,169		$	32,177		$	6,770		$	7,449		$	7,279		$	7,254		$	28,752		$	6,186
																-
Corporate and Other
Processing and services revenues	$	8,218		$	12,543		$	9,035		$	7,269		$	37,065		$	(200	)	$	1,324		$	(3,641	)	$	(2,940	)	$	(5,457	)	$	(3,328	)
Cost of revenues		4,113			3,160			2,877			3,259			13,409			(1,333	)		(1,319	)		(1,331	)		(1,291	)		(5,274	)		(3,392	)
Gross Profit		4,105			9,383			6,158			4,010			23,656			1,133			2,643			(2,310	)		(1,649	)		(183	)		64
Selling, general and admin expenses (1)		23,960			18,200			15,889			23,976			82,025			10,605			10,938			6,858			4,556			32,957			13,496
Operating income	$	(19,855	)	$	(8,817	)	$	(9,731	)	$	(19,966	)	$	(58,369	)	$	(9,472	)	$	(8,295	)	$	(9,168	)	$	(6,205	)	$	(33,140	)	$	(13,432	)
																-
Depreciation and amortization	$	2,397		$	2,373		$	2,625		$	2,705		$	10,100		$	1,169		$	1,366		$	1,242		$	1,358		$	5,135		$	1,495
																-
Consolidated Results
Processing and services revenues	$	351,163		$	357,007		$	384,748		$	392,059		$	1,484,977		$	401,428		$	425,010		$	425,464		$	438,666		$	1,690,568		$	452,726
Cost of revenues		214,110			209,698			231,930			244,407			900,145			257,781			269,042			261,655			270,169			1,058,647			290,174
Gross Profit		137,053			147,309			152,818			147,652			584,832			143,647			155,968			163,809			168,497			631,921			162,552
Selling, general and admin expenses		69,115			62,207			58,900			67,090			257,312			53,469			55,603			51,528			47,259			207,859			58,217
Operating income	$	67,938		$	85,102		$	93,918		$	80,562		$	327,520		$	90,178		$	100,365		$	112,281		$	121,238		$	424,062		$	104,335
																-
Depreciation and amortization	$	28,431		$	27,914		$	27,226		$	28,287		$	111,858		$	26,121		$	26,252		$	25,479		$	24,755		$	102,607		$	23,696
																-

Notes:

(1)

During the second quarter of 2008, the Company recorded an adjustment to Selling, general and administrative expenses to correct the timing of stock compensation costs that were incorrectly recorded during the quarters ended March 31 and June 30, 2006. The adjustment to the March 31, 2006 quarter resulted in a reduction of stock compensation costs totaling $8.7 million ($5.3 million net of tax) which was offset by a corresponding increase in stock compensation costs totaling $8.7 million ($5.3 million net of tax) during the June 30, 2006 quarter such that there was no impact on our previously reported results of operations for the year ended December 31, 2006.

Appendix B

Lender Processing Services, Inc.
Reconciliation of Non-GAAP Segment Results of Operations - Unaudited
(in thousands)

													Full Year															Full Year
	Q1 2006			Q2 2006			Q3 2006			Q4 2006			2006			Q1 2007			Q2 2007			Q3 2007			Q4 2007			2007			Q1 2008
Technology, Data & Analytics
Operating income	$	39,324		$	44,974		$	49,501		$	45,734		$	179,533		$	44,433		$	46,868		$	45,139		$	55,189		$	191,629		$	45,456
Restructuring costs		—			—			303			50			353			—			—			—			—			—			—
LPS spin related costs		—			—			—			—			—			—			—			—			—			—			—
Acceleration of performance-based shares		—			—			—			—			—			—			—			—			—			—			—
Operating income, as adjusted	$	39,324		$	44,974		$	49,804		$	45,784		$	179,886		$	44,433		$	46,868		$	45,139		$	55,189		$	191,629		$	45,456
Loan Transaction Services
Operating income	$	48,469		$	48,945		$	54,148		$	54,794		$	206,356		$	55,217		$	61,792		$	76,310		$	72,254		$	265,573		$	72,311
Restructuring costs		—			31			96			(197	)		(70	)		—			—			—			—			—			—
LPS spin related costs		—			—			—			—			—			—			—			—			—			—			—
Acceleration of performance-based shares		—			—			—			—			—			—			—			—			—			—			—
Operating income, as adjusted	$	48,469		$	48,976		$	54,244		$	54,597		$	206,286		$	55,217		$	61,792		$	76,310		$	72,254		$	265,573		$	72,311
Corporate and Other
Operating income	$	(19,855	)	$	(8,817	)	$	(9,731	)	$	(19,966	)	$	(58,369	)	$	(9,472	)	$	(8,295	)	$	(9,168	)	$	(6,205	)	$	(33,140	)	$	(13,432	)
Restructuring costs		—			556			301			899			1,756			—			—			—			(4,235	)		(4,235	)		—
LPS spin related costs		—			—			—			—			—			—			—			—			—			—			1,003
Acceleration of performance-based shares		12,375			—			—			—			12,375			—			—			—			—			—			—
Operating income, as adjusted	$	(7,480	)	$	(8,261	)	$	(9,430	)	$	(19,067	)	$	(44,238	)	$	(9,472	)	$	(8,295	)	$	(9,168	)	$	(10,440	)	$	(37,375	)	$	(12,429	)
Consolidated Results
Operating income	$	67,938		$	85,102		$	93,918		$	80,562		$	327,520		$	90,178		$	100,365		$	112,281		$	121,238		$	424,062		$	104,335
Restructuring costs		—			587			700			752			2,039			—			—			—			(4,235	)		(4,235	)		—
LPS spin related costs		—			—			—			—			—			—			—			—			—			—			1,003
Acceleration of performance-based shares		12,375			—			—			—			12,375			—			—			—			—			—			—
Operating income, as adjusted	$	80,313		$	85,689		$	94,618		$	81,314		$	341,934		$	90,178		$	100,365		$	112,281		$	117,003		$	419,827		$	105,338

Note:
	The adjustments to GAAP results included above represent the Company’s portion of similar non-GAAP adjustments previously reported by Fidelity National Information Services, Inc. (“FIS”) prior to the spin-off of LPS from FIS.