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

Exhibit 99.1

Press Release

Investors:	Media:
Parag Bhansali	Michelle Kersch
(904) 854-8640	(904) 854-5043

Lender Processing Services, Inc. Reports Strong First Quarter Earnings
Year-over-year revenues increase 11.8%
Year-over-year adjusted EPS increases 25.0%

     JACKSONVILLE, Fla. – April 22, 2010 – Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today reported consolidated revenues of $592.4 million for the first quarter of 2010, an increase of 11.8% compared to the first quarter of 2009. Net earnings of $72.5 million or 75 cents per diluted share in the first quarter of 2010 increased from $50.0 million or 53 cents per diluted share in the first quarter of 2009.

     Adjusted net earnings for the first quarter of 2010 were $76.7 million, or 80 cents per diluted share, compared to $60.6 million, or 64 cents per diluted share in the first quarter of 2009. Adjusted net earnings in the current quarter include an adjustment for purchase price amortization of 5 cents per diluted share while the prior year quarter excluded an after-tax charge of 6 cents per diluted share primarily related to the retirement of three members of LPS’s Board of Directors and included an adjustment for purchase price amortization of 5 cents per diluted share.

     “LPS is off to a strong start in 2010 despite difficult market conditions and a challenging broader macro-economic environment. LPS, with its strong market presence and its unique

portfolio of services, remains well positioned to achieve its growth objectives in 2010 and beyond,” said Lee A. Kennedy, Executive Chairman of LPS. “Our Loan Facilitation business posted record growth in a sluggish year-over-year origination market as we continued to gain market share. Our Default Services business grew year-over-year as well, despite being impacted by broader industry slowdowns. Also, our Mortgage Processing and other Technology businesses delivered another strong quarter,” added Jeff Carbiener, President and CEO of LPS.

     Operating income of $135.7 million in the quarter increased from $103.9 million in the first quarter of 2009.

     Adjusted free cash flow (net cash provided by operating activities minus certain non-recurring expenses and additions to property, equipment and computer software) for the quarter of $81.0 million improved compared to $57.1 million for the first quarter of 2009 primarily due to strong operating results.

Technology, Data and Analytics (TD&A)

     Revenues for the segment were $179.5 million compared to $159.9 million in the first quarter of 2009 while operating income of $53.9 million compared to $53.4 million in the prior year period. Mortgage Processing revenues of $97.6 million were 7.1% above the first quarter of 2009 while Other TD&A revenues increased by 19.1% to $81.8 million compared to the same period last year, primarily due to strong growth in Data and Analytics services and in our Desktop application. Overall operating income for TD&A grew nominally due to higher contributions from Mortgage Processing largely offset by lower contributions from Other TD&A as a result of investments in key client projects, specifically, a number of Desktop implementations with top-tier financial institutions.

Loan Transaction Services (LTS)

     Revenues for the segment increased by 10.9% to $415.3 million compared to the first quarter of 2009 while operating income of $98.8 million compared to $78.2 million in the prior

year quarter. Loan Facilitation Services revenues of $146.6 million were up 23.0% compared to the prior year quarter, and in contrast to the Mortgage Bankers Association’s (MBA) estimate of overall originations being lower by 4% year-over-year. This growth was primarily due to market share gains driven by higher settlement services and increased appraisal volumes. Default Services revenues of $268.7 million increased 5.2% over the first quarter of 2009, despite a decline in industry foreclosure starts of 6.0% for the same period per LPS’s Mortgage Monitor report driven by a broader industry slowdown. Overall operating income for LTS was higher mainly due to higher income in loan origination related offerings.

Corporate and Other

     Net corporate expenses in the first quarter of 2010 were $17.0 million compared to $18.7 million (excluding the impact of certain non-recurring charges) in the prior year quarter.

     The company noted that it had repurchased 1.141 million shares for $44.9 million since year-end. Following these purchases, $121.6 million remains available under the current authorization for future share repurchases.

Outlook

     “We are off to a strong start in 2010 and while the broader economy and some of our markets remain challenging, LPS has a market-leading presence in each of its businesses and remains in a good position to grow revenue and earnings in 2010,” said Jeff Carbiener. “Building on the first quarter results, we expect second quarter 2010 adjusted earnings to be in the range of 88-90 cents per diluted share. For full year 2010, we continue to expect revenues to grow 8%-10% compared to 2009, driven by the strong momentum in Loan Facilitation Services, key customer wins in our Desktop business, a solid run rate in March in Default Services combined with continued growth in foreclosure activity through the remainder of the year. Also, we continue to expect adjusted earnings to be in the $3.49-$3.56 per diluted share range.”

Use of Non-GAAP Financial Information

     Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, LPS reports several non-GAAP measures, including “adjusted net earnings” (GAAP net earnings adjusted for the impact of certain non-recurring adjustments, if applicable, plus the after-tax purchase price amortization of intangible assets added through acquisitions), “adjusted net earnings per diluted share” (adjusted net earnings divided by diluted weighted average shares), and “adjusted free cash flow” (net cash provided by operating activities less additions to property, equipment and computer software, as well as non-recurring adjustments, if applicable). LPS provides these measures because it believes that they are helpful to investors in comparing year-over-year performance in light of certain non-recurring charges, and to better understand our financial performance, competitive position and future prospects. Non-GAAP measures should be considered in conjunction with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. A reconciliation of these non-GAAP measures to related GAAP measures is included in the attachments to this release.

Conference Call and Webcast

     LPS will host a conference call to discuss these results on Friday, April 23, 2010, at 8:00 a.m. EDT. Interested parties are invited to listen to the live webcast by logging on to the Investor Relations section atwww.lpsvcs.com. Supplemental materials will be available on the website. Those wishing to participate via the conference call may do so by calling 866-823-5035. A replay of the webcast will be available on the website shortly after the call where it will be archived for one month. A replay of the conference call will be available through April 30, 2010 by dialing 888-203-1112 (access code: 4653925).

     To access a printer friendly version of this release and accompanying exhibits, go to http://www.lpsvcs.com/investor.

About Lender Processing Services

     Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, workflow automation (Desktop), servicing, portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’s Mortgage Servicing Package (MSP). In fact, many of the nation’s top servicers rely on MSP, including eight of the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com.

Forward-Looking Statements

     This press release contains forward-looking statements that involve a number of risks and uncertainties. Those forward-looking statements include all statements that are not historical facts, including statements about our beliefs and expectations. Forward-looking statements are based on management’s beliefs, as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future economic performance and are not statements of historical fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to: our ability to adapt our services to changes in technology or the marketplace; the impact of adverse changes in the level of real estate activity on demand for certain of our services; our ability to maintain and grow our relationships with our customers; the effects of our substantial

leverage on our ability to make acquisitions and invest in our business; changes to the laws, rules and regulations that regulate our businesses as a result of the current economic and financial environment; changes in general economic, business and political conditions, including changes in the financial markets; the impact of any potential defects, development delays, installation difficulties or system failures on our business and reputation; risks associated with protecting information security and privacy; risks associated with our spin-off from Fidelity National Information Services, Inc., including limitations on our strategic and operating flexibility as a result of the tax-free nature of the spin-off; and other risks and uncertainties detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K, the Company’s subsequent reports on Form 10-Q and other filings with the Securities and Exchange Commission.

###

Exhibit A

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES
Consolidated Statements of Earnings
(In thousands, except per share data)

	Three months ended March 31,
	2010			2009
	(Unaudited)
Processing and services revenues	$	592,394		$	529,817
Cost of revenues		396,022			354,702
Gross profit		196,372			175,115
Selling, general and administrative expenses		60,720			71,178
Operating income		135,652			103,937
Other income (expense):
Interest income		623			524
Interest expense		(18,845	)		(21,914	)
Other expense, net		4			(1	)
Total other income (expense)		(18,218	)		(21,391	)
Earnings from continuing operations before income taxes and equity in losses of unconsolidated entity		117,434			82,546
Provision for income taxes		44,918			31,575
Earnings from continuing operations before equity in losses of unconsolidated entity		72,516			50,971
Equity in losses of unconsolidated entity		—			(37	)
Earnings from continuing operations		72,516			50,934
Discontinued operation, net of tax		—			(504	)
Net earnings		72,516			50,430
Noncontrolling minority interest		—			(384	)
Net earnings attributable to Lender Processing Services, Inc.	$	72,516		$	50,046
Net earnings per share — diluted from continuing operations	$	0.75		$	0.53
Net earnings per share — diluted from discontinued operation		—			—
Net earnings per share — diluted	$	0.75		$	0.53
Weighted average shares outstanding — diluted		96,416			95,284

Exhibit B

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(Unaudited)

	March 31, 2010			December 31, 2009
	(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	122,960		$	70,528
Trade receivables, net of allowance for doubtful accounts		395,581			401,333
Other receivables		3,367			3,770
Prepaid expenses and other current assets		29,413			26,985
Deferred income taxes		46,123			47,528
Total current assets		597,444			550,144
Property and equipment, net of accumulated depreciation		118,310			113,108
Computer software, net of accumulated amortization		193,225			185,376
Other intangible assets, net of accumulated amortization		66,426			72,796
Goodwill		1,166,142			1,166,142
Other non-current assets		107,338			109,738
Total assets	$	2,248,885		$	2,197,304
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt	$	75,100		$	40,100
Trade accounts payable		43,883			38,166
Accrued salaries and benefits		28,786			54,376
Recording and transfer tax liabilities		12,329			15,208
Due to affiliates		—			3,321
Other accrued liabilities		187,283			151,601
Deferred revenues		63,593			66,602
Total current liabilities		410,974			369,374
Deferred revenues		35,749			37,681
Deferred income taxes, net		70,887			65,215
Long-term debt, net of current portion		1,212,975			1,249,250
Other non-current liabilities		19,691			19,926
Total liabilities		1,750,276			1,741,446
Stockholders’ equity:
Preferred stock $0.0001 par value; 50 million shares authorized, none issued at March 31, 2010 or December 31, 2009, respectively		—			—
Common stock $0.0001 par value; 500 million shares authorized, 97.4 million and 97.0 million shares issued at March 31, 2010 and December 31, 2009, respectively		10			10
Additional paid-in capital		191,993			173,424
Retained earnings		393,913			330,963
Accumulated other comprehensive loss		(5,751	)		(7,630	)
Treasury stock $0.0001 par value; 2.2 million and 1.2 million shares at March 31, 2010 and December 31, 2009, respectively		(81,556	)		(40,909	)
Total stockholders’ equity		498,609			455,858
Total liabilities and stockholders’ equity	$	2,248,885		$	2,197,304

Exhibit C

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(Unaudited)

	Three Months ended March 31,
	2010			2009
	(In thousands)
Cash flows from operating activities:
Net earnings attributable to Lender Processing Services, Inc.	$	72,516		$	50,046
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		23,654			23,991
Amortization of debt issuance costs		1,148			1,282
Gain on sale of discontinued operation		—			(2,574	)
Deferred income taxes, net		5,917			(651	)
Stock-based compensation cost		6,557			6,843
Tax benefit associated with equity compensation		766			(1,222	)
Equity in losses of unconsolidated entity		—			37
Noncontrolling minority interest		—			384
Changes in assets and liabilities, net of effects of acquisitions:
Trade receivables		5,752			(25,871	)
Other receivables		403			4,622
Prepaid expenses and other assets		(4,109	)		(6,347	)
Deferred revenues		(4,941	)		(479	)
Accounts payable and other liabilities		1,377			25,312
Net cash provided by operating activities		109,040			75,373
Cash flows from investing activities:
Additions to property and equipment		(12,265	)		(11,659	)
Additions to capitalized software		(15,779	)		(10,912	)
Acquisition of title plants		—			(5,764	)
Acquisitions, net of cash acquired		(2,978	)		490
Proceeds from sale of discontinued operation, net of cash distributed		—			(32,638	)
Net cash used in investing activities		(31,022	)		(60,483	)
Cash flows from financing activities:
Debt service payments		(1,275	)		(76,276	)
Stock options exercised		12,448			714
Tax benefit associated with equity compensation		(766	)		1,222
Cash dividends paid		(9,566	)		(9,481	)
Treasury stock purchases		(26,427	)		—
Net cash used in financing activities		(25,586	)		(83,821	)
Net increase (decrease) in cash and cash equivalents		52,432			(68,931	)
Cash and cash equivalents, beginning of period		70,528			125,966
Cash and cash equivalents, end of period	$	122,960		$	57,035
Supplemental disclosures of cash flow information:
Cash paid for interest	$	25,839		$	28,763
Cash paid for taxes	$	7,641		$	7,746
Non-cash redistribution of assets to FIS	$	—		$	434
Non-cash consideration received from sale of discontinued operation	$	—		$	40,310
Non-cash consideration issued in acquisition of business	$	—		$	(5,162	)

Exhibit D

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION — UNAUDITED
(In thousands)

	Quarter ended March 31,
	2010			2009			3/31/2010			12/31/2009			9/30/2009			6/30/2009			3/31/2009
1. Revenues — Continuing Operations
Technology, Data and Analytics (TD&A):
Mortgage Processing	$	97,634		$	91,150		$	97,634		$	104,184		$	102,973		$	89,567		$	91,150
Other TD&A		81,828			68,729			81,828			85,247			83,313			82,322			68,729
Total		179,462			159,879			179,462			189,431			186,286			171,889			159,879
Loan Transaction Services:
Loan Facilitation Services		146,614			119,214			146,614			142,919			136,657			148,510			119,214
Default Services		268,671			255,309			268,671			278,647			303,823			299,534			255,309
Total		415,285			374,523			415,285			421,566			440,480			448,044			374,523
Corporate and Other		(2,353	)		(4,585	)		(2,353	)		(2,864	)		(7,339	)		(6,762	)		(4,585	)
Total Revenue	$	592,394		$	529,817		$	592,394		$	608,133		$	619,427		$	613,171		$	529,817
Revenue Growth from Prior Year Period
Technology, Data and Analytics:
Mortgage Processing		7.1	%		13.7	%		7.1	%		17.9	%		23.2	%		9.1	%		13.7	%
Other TD&A		19.1	%		23.5	%		19.1	%		40.3	%		50.5	%		37.9	%		23.5	%
Total		12.2	%		17.7	%		12.2	%		27.0	%		34.1	%		21.3	%		17.7	%
Loan Transaction Services:
Loan Facilitation Services		23.0	%		-16.1	%		23.0	%		70.3	%		55.9	%		25.8	%		-16.1	%
Default Services		5.2	%		51.0	%		5.2	%		14.3	%		25.6	%		51.9	%		51.0	%
Total		10.9	%		20.4	%		10.9	%		28.7	%		33.7	%		42.1	%		20.4	%
Corporate and Other		n/m			n/m			n/m			n/m			n/m			n/m			n/m
Total Revenue		11.8	%		19.4	%		11.8	%		28.3	%		32.7	%		35.3	%		19.4	%
2. Depreciation and Amortization — Continuing Operations
Depreciation and Amortization	$	14,993		$	14,074		$	14,993		$	15,932		$	15,894		$	15,431		$	14,074
Purchase Price Amortization		6,718			8,083			6,718			7,654			7,608			7,404			8,083
Other Amortization		1,943			1,829			1,943			1,713			1,542			753			1,829
Total Depreciation and Amortization	$	23,654		$	23,986		$	23,654		$	25,299		$	25,044		$	23,588		$	23,986
3. Stock Compensation Expense
Stock Compensation Expense, Excluding Acceleration Charges	$	6,557		$	6,044		$	6,557		$	7,678		$	7,062		$	6,459		$	6,044
Stock Acceleration Expense		—			799			—			—			—			—			799
Total Stock Compensation Expense	$	6,557		$	6,843		$	6,557		$	7,678		$	7,062		$	6,459		$	6,843

Exhibit E

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In thousands, except per share data)

	Quarter ended March 31,
	2010			2009			3/31/2010			12/31/2009			9/30/2009			6/30/2009			3/31/2009
1. EBIT — Continuing Operations
Consolidated
Revenue	$	592,394		$	529,817		$	592,394		$	608,133		$	619,427		$	613,171		$	529,817
Cost of Sales		396,022			354,702			396,022			403,174			409,113			404,014			354,702
Selling, General and Administrative Expenses		60,720			71,178			60,720			64,059			66,671			65,431			71,178
Operating Income		135,652			103,937			135,652			140,900			143,643			143,726			103,937
Less Non-recurring Charges:
Restructuring Costs		—			8,186			—			—			—			—			8,186
Acceleration of Performance-Based Shares		—			799			—			—			—			—			799
EBIT, as adjusted	$	135,652		$	112,922		$	135,652		$	140,900		$	143,643		$	143,726		$	112,922
EBIT Margin, as adjusted		22.9	%		21.3	%		22.9	%		23.2	%		23.2	%		23.4	%		21.3	%
Depreciation and Amortization	$	23,654		$	23,986		$	23,654		$	25,299		$	25,044		$	23,588		$	23,986
Technology, Data and Analytics
Revenue	$	179,462		$	159,879		$	179,462		$	189,431		$	186,286		$	171,889		$	159,879
Cost of Sales		105,795			90,463			105,795			107,368			105,651			98,929			90,463
Selling, General and Administrative Expenses		19,811			16,066			19,811			18,571			18,256			17,824			16,066
Operating Income		53,856			53,350			53,856			63,492			62,379			55,136			53,350
Less Non-recurring Charges:
Restructuring Costs		—			—			—			—			—			—			—
Acceleration of Performance-Based Shares		—			—			—			—			—			—			—
EBIT, as adjusted	$	53,856		$	53,350		$	53,856		$	63,492		$	62,379		$	55,136		$	53,350
EBIT Margin, as adjusted		30.0	%		33.4	%		30.0	%		33.5	%		33.5	%		32.1	%		33.4	%
Depreciation and Amortization	$	16,538		$	17,375		$	16,538		$	18,066		$	17,595		$	16,441		$	17,375
Loan Transaction Services
Revenue	$	415,285		$	374,523		$	415,285		$	421,566		$	440,480		$	448,044		$	374,523
Cost of Sales		292,609			268,936			292,609			298,723			311,230			311,349			268,936
Selling, General and Administrative Expenses		23,857			27,359			23,857			25,681			27,665			27,064			27,359
Operating Income		98,819			78,228			98,819			97,162			101,585			109,631			78,228
Less Non-recurring Charges:
Restructuring Costs		—			—			—			—			—			—			—
Acceleration of Performance-Based Shares		—			—			—			—			—			—			—
EBIT, as adjusted	$	98,819		$	78,228		$	98,819		$	97,162		$	101,585		$	109,631		$	78,228
EBIT Margin, as adjusted		23.8	%		20.9	%		23.8	%		23.0	%		23.1	%		24.5	%		20.9	%
Depreciation and Amortization	$	5,186		$	4,608		$	5,186		$	5,281		$	5,295		$	5,126		$	4,608
Corporate and Other
Revenue	$	(2,353	)	$	(4,585	)	$	(2,353	)	$	(2,864	)	$	(7,339	)	$	(6,762	)	$	(4,585	)
Cost of Sales		(2,382	)		(4,697	)		(2,382	)		(2,917	)		(7,768	)		(6,264	)		(4,697	)
Selling, General and Administrative Expenses		17,052			27,753			17,052			19,807			20,750			20,543			27,753
Operating Income		(17,023	)		(27,641	)		(17,023	)		(19,754	)		(20,321	)		(21,041	)		(27,641	)
Less Non-recurring Charges:
Restructuring Costs		—			8,186			—			—			—			—			8,186
Acceleration of Performance-Based Shares		—			799			—			—			—			—			799
EBIT, as adjusted	$	(17,023	)	$	(18,656	)	$	(17,023	)	$	(19,754	)	$	(20,321	)	$	(21,041	)	$	(18,656	)
Depreciation and Amortization	$	1,930		$	2,003		$	1,930		$	1,952		$	2,154		$	2,021		$	2,003
2. Net Earnings — Reconciliation
Net Earnings	$	72,516		$	50,046		$	72,516		$	74,901		$	75,542		$	75,240		$	50,046
Less Non-recurring Charges:
Restructuring Costs, net of tax		—			5,055			—			—			—			—			5,055
Acceleration of Performance-Based Shares, net of tax		—			493			—			—			—			—			493
Net Earnings, as adjusted		72,516			55,594			72,516			74,901			75,542			75,240			55,594
Purchase Price Amortization, net of tax (1)		4,148			4,991			4,148			4,726			4,698			4,572			4,991
Adjusted Net Earnings	$	76,664		$	60,585		$	76,664		$	79,627		$	80,240		$	79,812		$	60,585
Net Earnings Per Diluted Share	$	0.75		$	0.58		$	0.75		$	0.77		$	0.78		$	0.78		$	0.58
Adjusted Net Earnings Per Diluted Share	$	0.80		$	0.64		$	0.80		$	0.82		$	0.83		$	0.83		$	0.64
Diluted Weighted Average Shares		96,416			95,284			96,416			96,781			96,399			96,133			95,284
3. Cashflow — Reconciliation
Cash Flows from Operating Activities:
Net Earnings	$	72,516		$	50,046		$	72,516		$	74,901		$	75,542		$	75,240		$	50,046
Less Non-recurring Charges:
Restructuring Costs, net of tax		—			4,304			—			—			—			—			4,304
Net Earnings, as adjusted		72,516			54,350			72,516			74,901			75,542			75,240			54,350
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash adjustments		38,042			28,090			38,042			60,281			32,279			31,700			28,090
Working capital adjustments		(1,518	)		(2,763	)		(1,518	)		13,369			(16,954	)		21,957			(2,763	)
Net cash provided by operating activities		109,040			79,677			109,040			148,551			90,867			128,897			79,677
Capital expenditures included in investing activities		(28,044	)		(22,571	)		(28,044	)		(30,913	)		(19,455	)		(25,836	)		(22,571	)
Adjusted Net Free Cash Flow	$	80,996		$	57,106		$	80,996		$	117,638		$	71,412		$	103,061		$	57,106

Notes:

(1) Purchase price amortization, net of tax represents the periodic amortization of intangible assets acquired through business acquisitions primarily relating to customer lists, trademarks and non-compete agreements.