Black Knight InfoServ 8-K Lender Processing Services, Inc. Reports Second Quarter 2011 Earnings Adjusted EPS of 56 cents per diluted share in 2Q11

Exhibit 99.1

Press Release

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

Lender Processing Services, Inc. Reports Second Quarter 2011 Earnings
Adjusted EPS of 56 cents per diluted share in 2Q11

     JACKSONVILLE, Fla. — July 25, 2011 — 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 $517.5 million for the second quarter of 2011, a decrease of 12.8% compared to the second quarter of 2010, while net earnings of $21.4 million or 25 cents per diluted share in the second quarter of 2011 compared to $80.4 million or 85 cents per diluted share in the prior year quarter.

     The company noted that, in light of current market conditions, it continues to evaluate its cost structure as well as potentially underperforming assets. As a result, the company recognized a pre-tax restructuring charge of $7.9 million during the quarter primarily relating to continued personnel reductions. Also, the company recognized a $31.8 million pre-tax asset impairment charge ($26.6 million for certain services now classified as discontinued operations and $5.2 million in continuing operations) relating to the write-down of certain investments that the company is evaluating for potential sale or wind down.

     Adjusted net earnings for the second quarter of 2011 were $48.0 million, or 56 cents per diluted share, compared to $84.0 million, or 89 cents per diluted share in the second quarter of 2010. Adjusted net earnings in the current quarter excluded the following charges: 18 cents per

diluted share for asset impairment charges relating to discontinued operations, 6 cents per diluted share primarily relating to cost reduction initiatives and 4 cents per diluted share for asset impairment charges relating to continuing operations. Also, the current quarter included an adjustment for purchase price amortization of 3 cents per diluted share while the second quarter of 2010 included a similar adjustment of 4 cents per diluted share.

     “LPS continues to perform well despite very challenging conditions in the default and origination markets, as well as an ongoing difficult macro-economic environment. LPS, with its strong market presence and unique set of end-to-end solutions for the mortgage and real estate marketplace, remains well-positioned for the years ahead,” said Lee A. Kennedy, Chairman and interim CEO of LPS.

     “Our Default Services and Loan Facilitation businesses continued to be impacted by lower industry volumes, however, our Mortgage Processing business had a good quarter while our Other TD&A businesses posted strong growth from continued market share gains,” continued Lee A. Kennedy.

     Operating income of $72.2 million in the second quarter of 2011 compared to $148.4 million in the prior year period. Adjusting for the charges noted earlier, operating income was $85.4 million in the second quarter of 2011.

     Net cash provided by operating activities for the first half of 2011 was $226.9 million compared to $206.7 million for the same period last year. Adjusted free cash flow (net cash provided by operating activities minus certain non-recurring charges and additions to property, equipment and computer software) for the first half of 2011 was $183.0 million compared to $149.5 million for the first half of 2010 and was higher primarily due to contributions from changes in working capital.

Technology, Data and Analytics (TD&A)

     Revenues for the segment were $195.3 million compared to $179.8 million in the second quarter of 2010, while operating income of $58.2 million (excluding the charges noted earlier) compared to $64.8 million in the prior year quarter. Mortgage Processing revenues of $102.8 million compared to $102.4 million in the same period last year. Other TD&A revenues of $92.6 million were 19.5% above the second quarter of 2010 primarily due to strong growth in Desktop, as well as higher Data & Analytics revenues. Overall operating income for TD&A was lower compared to the second quarter of 2010 primarily due to lower income in our Other Software and Services offerings partly offset by higher contributions from Data & Analytics and Desktop.

Loan Transaction Services (LTS)

     Revenues for the segment were $323.7 million compared to $415.5 million in the second quarter of 2010, and operating income of $58.9 million (excluding the charges noted earlier) compared to $101.6 million in the prior year period. Loan Facilitation Services revenues of $113.4 million declined 19.3% compared to the second quarter of 2010 due to lower industry volumes. Default Services revenues of $210.3 million declined 23.5% compared to the same period last year as a result of continued delays in the initiation of foreclosure proceedings in the industry. This result compared favorably to RealtyTrac’s report of a 36.6% decline in Default Notices compared to the prior year quarter. This positive variance was primarily due to continued market share gains in our default title business. Overall operating income for LTS declined mainly due to lower contributions from Loan Facilitation Services and to a lesser extent from Default Services.

Corporate and Other

     Net corporate expenses were $33.9 million in the second quarter of 2011. Excluding the charges noted earlier, net corporate expenses of $31.7 million compared to $18.0 million in the second quarter of 2010 and were up primarily due to higher legal and compliance related expenses.

     The company noted that it had repurchased 2.0 million shares for $53.0 million and $5.0 million of its public bonds in the second quarter. Following these purchases, $95.1 million remains available under the current authorization.

Outlook

     “While difficult market conditions persist in some of our businesses and the broader economy remains very sluggish, LPS with its strong market presence remains well-positioned,” said Lee A. Kennedy. “Given the current environment, we expect third quarter 2011 adjusted earnings to be in the range of 53-55 cents per diluted share.”

Use of Non-GAAP Financial Information

     U.S. 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 “EBIT, as adjusted” (GAAP operating income adjusted for the impact of certain non-recurring adjustments, if applicable), “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 Tuesday, July 26, 2011, at 8:00 a.m. ET. Interested parties are invited to listen to the live webcast by logging on to the Investor Relations section of the company’s website at www.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 August 2, 2011 by dialing 888-203-1112 (access code: 3547305).

     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, services and loan performance data and analytics to the mortgage, consumer lending, capital markets and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation, portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Almost half of all U.S. mortgages are serviced using LPS’ Mortgage Servicing Package (MSP). 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 (including among others, loan originations and foreclosures) 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; the level of scrutiny being placed on participants in the foreclosure process; risks associated with federal and state inquiries and examinations currently underway or that may be commenced in the future with respect to our default management operations, and with civil litigation related to these matters; 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; 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

(Unaudited)

	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
	(In thousands, except per share data)
Processing and services revenues	$	517,495		$	593,697		$	1,072,282		$	1,179,535
Cost of revenues		370,402			386,511			738,935			777,498
Gross profit		147,093			207,186			333,347			402,037
Selling, general and administrative expenses		74,861			58,743			156,149			118,479
Operating income		72,232			148,443			177,198			283,558
Other income (expense):
Interest income		388			300			718			923
Interest expense		(13,715	)		(18,671	)		(27,811	)		(37,567	)
Other expense, net		(70	)		119			(56	)		123
Total other income (expense)		(13,397	)		(18,252	)		(27,149	)		(36,521	)
Earnings from continuing operations before income taxes		58,835			130,191			150,049			247,037
Provision for income taxes		21,607			49,797			56,269			94,490
Earnings from continuing operations		37,228			80,394			93,780			152,547
Discontinued operations, net of tax		(15,863	)		19			(16,486	)		382
Net earnings	$	21,365		$	80,413		$	77,294		$	152,929
Net earnings per share — diluted from continuing operations	$	0.43		$	0.85		$	1.08		$	1.60
Net earnings per share — diluted from discontinued operations		(0.18	)		—			(0.19	)		—
Net earnings per share — diluted	$	0.25		$	0.85		$	0.89		$	1.60
Weighted average shares outstanding — diluted		85,812			94,910			86,968			95,660

Exhibit B

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

(Unaudited)

	June 30,			December 31,
	2011			2010
	(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	22,008		$	52,287
Trade receivables, net of allowance for doubtful accounts		366,514			419,647
Other receivables		3,100			4,910
Prepaid expenses and other current assets		35,885			38,328
Deferred income taxes		45,073			44,102
Total current assets		472,580			559,274
Property and equipment, net of accumulated depreciation		124,016			123,897
Computer software, net of accumulated amortization		220,081			217,573
Other intangible assets, net of accumulated amortization		49,011			58,269
Goodwill		1,150,631			1,159,539
Other non-current assets		152,878			133,291
Total assets	$	2,169,197		$	2,251,843
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt	$	145,157		$	145,154
Trade accounts payable		44,414			51,610
Accrued salaries and benefits		50,572			55,230
Recording and transfer tax liabilities		12,926			10,879
Other accrued liabilities		149,569			145,203
Deferred revenues		54,155			57,651
Total current liabilities		456,793			465,727
Deferred revenues		34,364			36,893
Deferred income taxes, net		102,790			96,732
Long-term debt, net of current portion		1,086,668			1,104,247
Other non-current liabilities		23,551			22,030
Total liabilities		1,704,166			1,725,629
Stockholders’ equity:
Preferred stock $0.0001 par value; 50 million shares authorized, none issued at June 30, 2011 or December 31, 2010, respectively		—			—
Common stock $0.0001 par value; 500 million shares authorized, 97.4 million shares issued at June 30, 2011 and December 31, 2010, respectively		10			10
Additional paid-in capital		230,135			216,896
Retained earnings		656,018			596,168
Accumulated other comprehensive loss		(733	)		(283	)
Treasury stock $0.0001 par value; 13.1 million and 8.6 million shares at June 30, 2011 and December 31, 2010, respectively		(420,399	)		(286,577	)
Total stockholders’ equity		465,031			526,214
Total liabilities and stockholders’ equity	$	2,169,197		$	2,251,843

Exhibit C

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Unaudited)

	Six months ended June 30,
	2011			2010
	(In thousands)
Cash flows from operating activities:
Net earnings	$	77,294		$	152,929
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		49,435			47,294
Amortization of debt issuance costs		2,317			2,317
Asset impairment charges		31,855			—
Deferred income taxes, net		3,553			9,023
Stock-based compensation cost		18,866			13,837
Income tax benefit from exercise of stock options		213			162
Changes in assets and liabilities, net of effects of acquisitions:
Trade receivables		53,412			17,512
Other receivables		1,811			(162	)
Prepaid expenses and other assets		(4,023	)		(13,699	)
Deferred revenues		(7,098	)		(15,031	)
Accounts payable, accrued liabilities and other liabilities		(748	)		(7,513	)
Net cash provided by operating activities		226,887			206,669
Cash flows from investing activities:
Additions to property and equipment		(19,261	)		(23,371	)
Additions to capitalized software		(33,967	)		(33,795	)
Purchases of investments, net of proceeds from sales		(9,390	)		—
Acquisition of title plants and property records data		(10,352	)		—
Acquisitions, net of cash acquired		(9,802	)		—
Net cash used in investing activities		(82,772	)		(57,166	)
Cash flows from financing activities:
Borrowings		60,000			—
Debt service payments		(72,576	)		(2,550	)
Exercise of stock options and restricted stock vesting		(2,358	)		10,906
Tax benefit associated with equity compensation		(213	)		(162	)
Dividends paid		(17,444	)		(18,956	)
Treasury stock repurchases		(136,878	)		(97,698	)
Bond repurchases		(4,925	)		—
Payment of contingent consideration related to acquisitions		—			(2,978	)
Net cash used in financing activities		(174,394	)		(111,438	)
Net (decrease) increase in cash and cash equivalents		(30,279	)		38,065
Cash and cash equivalents, beginning of period		52,287			70,528
Cash and cash equivalents, end of period	$	22,008		$	108,593
Supplemental disclosures of cash flow information:
Cash paid for interest	$	26,789		$	36,558
Cash paid for taxes	$	35,153		$	71,332

Exhibit D

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL INFORMATION — UNAUDITED

(In thousands)

									��
	Six months ended June 30,						Quarter ended																		Year ended
	2011			2010			6/30/2011			3/31/2011			12/31/2010			9/30/2010			6/30/2010			3/31/2010			12/31/2010
1. Revenues — Continuing Operations
Technology, Data and Analytics (TD&A):
Mortgage Processing	$	205,100		$	199,990		$	102,766		$	102,334		$	100,341		$	102,362		$	102,356		$	97,634		$	402,693
Other TD&A		188,051			152,740			92,552			95,499			97,859			89,804			77,468			75,272			340,403
Total		393,151			352,730			195,318			197,833			198,200			192,166			179,824			172,906			743,096
Loan Transaction Services:
Loan Facilitation Services		250,655			287,085			113,352			137,303			188,332			165,490			140,471			146,614			640,907
Default Services		431,459			543,717			210,338			221,121			251,327			265,572			275,046			268,671			1,060,616
Total		682,114			830,802			323,690			358,424			439,659			431,062			415,517			415,285			1,701,523
Corporate and Other		(2,983	)		(3,997	)		(1,513	)		(1,470	)		(1,893	)		(1,939	)		(1,644	)		(2,353	)		(7,829	)
Total Revenue	$	1,072,282		$	1,179,535		$	517,495		$	554,787		$	635,966		$	621,289		$	593,697		$	585,838		$	2,436,790
Revenue Growth from Prior Year Period
Technology, Data and Analytics:
Mortgage Processing		2.6	%		10.7	%		0.4	%		4.8	%		-3.7	%		-0.6	%		14.3	%		7.1	%		3.8	%
Other TD&A		23.1	%		5.2	%		19.5	%		26.9	%		23.7	%		16.9	%		-1.6	%		13.4	%		13.1	%
Total		11.5	%		8.3	%		8.6	%		14.4	%		8.1	%		6.9	%		6.8	%		9.8	%		7.9	%
Loan Transaction Services:
Loan Facilitation Services		-12.7	%		7.2	%		-19.3	%		-6.4	%		31.8	%		21.1	%		-5.4	%		23.0	%		17.1	%
Default Services		-20.6	%		-2.0	%		-23.5	%		-17.7	%		-9.8	%		-12.6	%		-8.2	%		5.2	%		-6.7	%
Total		-17.9	%		1.0	%		-22.1	%		-13.7	%		4.3	%		-2.1	%		-7.3	%		10.9	%		1.0	%
Corporate and Other		n/m			n/m			n/m			n/m			n/m			n/m			n/m			n/m			n/m
Total Revenue		-9.1	%		3.7	%		-12.8	%		-5.3	%		5.6	%		1.4	%		-2.6	%		11.1	%		3.6	%
2. Depreciation and Amortization
Depreciation and Amortization	$	36,222		$	30,183		$	18,360		$	17,862		$	18,290		$	16,843		$	15,466		$	14,717		$	65,316
Purchase Price Amortization		8,904			12,090			4,049			4,855			5,510			5,454			5,628			6,462			23,054
Other Amortization		3,405			3,919			1,717			1,688			1,690			1,668			1,976			1,943			7,277
Total continuing operations		48,531			46,192			24,126			24,405			25,490			23,965			23,070			23,122			95,647
Depreciation and Amortization — Discontinued Operations		904			1,102			441			463			1,457			555			570			532			3,114
Total Depreciation and Amortization	$	49,435		$	47,294		$	24,567		$	24,868		$	26,947		$	24,520		$	23,640		$	23,654		$	98,761
3. Stock Compensation Expense (1)
Stock Compensation Expense, Excluding Acceleration Charges	$	14,997		$	13,837		$	8,238		$	6,759		$	8,228		$	8,215		$	7,280		$	6,557		$	30,280
Stock Acceleration Expense		3,869			—			—			3,869			1,797			—			—			—			1,797
Total Stock Compensation Expense	$	18,866		$	13,837		$	8,238		$	10,628		$	10,025		$	8,215		$	7,280		$	6,557		$	32,077
4. Discontinued Operations (2)
Revenue	$	3,012		$	11,940		$	1,601		$	1,411		$	2,854		$	4,751		$	5,384		$	6,556		$	19,545
Cost of Sales		3,961			9,371			1,884			2,077			5,191			4,122			4,336			5,035			18,684
Selling, General and Administrative Expenses		391			2,056			52			339			403			438			1,072			984			2,897
Asset Impairment Charge(3)		26,647			—			26,647			—			—			—			—			—			—
Operating (Loss) Income		(27,987	)		513			(26,982	)		(1,005	)		(2,740	)		191			(24	)		537			(2,036	)
Total Other Income (Expense)		—			107			—			—			37			56			56			51			200
Earnings (Loss) Before Income Taxes		(27,987	)		620			(26,982	)		(1,005	)		(2,703	)		247			32			588			(1,836	)
Provision (Benefit) for Income Taxes		(11,501	)		238			(11,119	)		(382	)		(1,029	)		95			13			225			(696	)
Net Earnings (Loss)	$	(16,486	)	$	382		$	(15,863	)	$	(623	)	$	(1,674	)	$	152		$	19		$	363		$	(1,140	)
Discontinued Operations — Reconciliation
Net Earnings (Loss), as reported	$	(16,486	)	$	382		$	(15,863	)	$	(623	)	$	(1,674	)	$	152		$	19		$	363		$	(1,140	)
Adjustment:
Asset Impairment Charge, net of tax(3)		15,707			—			15,707			—			—			—			—			—			—
Net Earnings, as adjusted		(779	)		382			(156	)		(623	)		(1,674	)		152			19			363			(1,140	)
Purchase Price Amortization, net of tax		234			316			117			118			602			158			158			158			1,076
Adjusted Net Earnings	$	(545	)	$	698		$	(39	)	$	(505	)	$	(1,072	)	$	310		$	177		$	521		$	(64	)
Adjusted Net Earnings (Loss) Per Diluted Share	$	(0.01	)	$	0.01		$	—		$	(0.01	)	$	(0.01	)	$	—		$	—		$	0.01		$	—
Diluted Weighted Average Shares		86,968			95,660			85,812			88,134			90,296			92,682			94,910			96,416			93,559

(1)	As the Company does not allocate stock compensation expense to the individual business units, there is no related expense associated with the discontinued operations.
(2)	The business units included in discontinued operations have historically been reported as a component of Other TD&A in the Technology, Data and Analytics reporting segment.
(3)	Reflects asset impairment charges totaling $26.6 million ($15.7 million net of tax) relating to the write-down of net assets in certain businesses that have been reclassified as discontinued operations.

Exhibit E

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

NON-GAAP FINANCIAL INFORMATION — UNAUDITED

(In thousands, except per share data)

	Six months ended June 30,						Quarter ended																		Year ended
	2011			2010			6/30/2011			3/31/2011			12/31/2010			9/30/2010			6/30/2010			3/31/2010			12/31/2010
1. EBIT — Continuing Operations
Consolidated
Revenue	$	1,072,282		$	1,179,535		$	517,495		$	554,787		$	635,966		$	621,289		$	593,697		$	585,838		$	2,436,790
Cost of Sales		738,935			777,498			370,402			368,533			432,772			413,121			386,511			390,987			1,623,391
Selling, General and Administrative Expenses		156,149			118,479			74,861			81,288			71,896			64,078			58,743			59,736			254,453
Operating Income		177,198			283,558			72,232			104,966			131,298			144,090			148,443			135,115			558,946
Adjustments:
Cash Related Restructuring Costs		23,446			—			7,943			15,503			2,472			—			—			—			2,472
Stock Related Restructuring Costs		3,869			—			—			3,869			1,797			—			—			—			1,797
Asset Impairment Charges		5,208			—			5,208			—			—			—			—			—			—
Out-of-period Adjustment		—			—			—			—			9,800			—			—			—			9,800
EBIT, as adjusted	$	209,721		$	283,558		$	85,383		$	124,338		$	145,367		$	144,090		$	148,443		$	135,115		$	573,015
EBIT Margin, as adjusted		19.6	%		24.0	%		16.5	%		22.4	%		22.9	%		23.2	%		25.0	%		23.1	%		23.5	%
Depreciation and Amortization	$	48,531		$	46,192		$	24,126		$	24,405		$	25,490		$	23,965		$	23,070		$	23,122		$	95,647
Technology, Data and Analytics
Revenue	$	393,151		$	352,730		$	195,318		$	197,833		$	198,200		$	192,166		$	179,824		$	172,906		$	743,096
Cost of Sales		245,278			196,741			125,695			119,583			115,414			104,299			95,981			100,760			416,454
Selling, General and Administrative Expenses		42,295			37,821			20,735			21,560			19,647			20,670			18,994			18,827			78,138
Operating Income		105,578			118,168			48,888			56,690			63,139			67,197			64,849			53,319			248,504
Adjustments:
Cash Related Restructuring Costs (2)		6,925			—			4,641			2,284			—			—			—			—			—
Asset Impairment Charges (4)		4,646			—			4,646			—			—			—			—			—			—
EBIT, as adjusted	$	117,149		$	118,168		$	58,175		$	58,974		$	63,139		$	67,197		$	64,849		$	53,319		$	248,504
EBIT Margin, as adjusted		29.8	%		33.5	%		29.8	%		29.8	%		31.9	%		35.0	%		36.1	%		30.8	%		33.4	%
Depreciation and Amortization	$	35,375		$	31,483		$	17,488		$	17,887		$	17,448		$	15,977		$	15,477		$	16,006		$	64,908
Loan Transaction Services
Revenue	$	682,114		$	830,802		$	323,690		$	358,424		$	439,659		$	431,062		$	415,517		$	415,285		$	1,701,523
Cost of Sales		496,558			584,716			246,193			250,365			317,285			310,780			292,107			292,609			1,212,781
Selling, General and Administrative Expenses		42,749			45,655			20,208			22,541			26,440			23,561			21,798			23,857			95,656
Operating Income		142,807			200,431			57,289			85,518			95,934			96,721			101,612			98,819			393,086
Adjustments:
Cash Related Restructuring Costs (2)		4,027			—			1,074			2,953			—			—			—			—			—
Asset Impairment Charges (4)		562			—			562			—			—			—			—			—			—
Out-of-period Adjustment (3)		—			—			—			—			9,800			—			—			—			9,800
EBIT, as adjusted	$	147,396		$	200,431		$	58,925		$	88,471		$	105,734		$	96,721		$	101,612		$	98,819		$	402,886
EBIT Margin, as adjusted		21.6	%		24.1	%		18.2	%		24.7	%		24.0	%		22.4	%		24.5	%		23.8	%		23.7	%
Depreciation and Amortization	$	9,525		$	10,935		$	4,822		$	4,703		$	6,226		$	6,152		$	5,749		$	5,186		$	23,313
Corporate and Other
Revenue	$	(2,983	)	$	(3,997	)	$	(1,513	)	$	(1,470	)	$	(1,893	)	$	(1,939	)	$	(1,644	)	$	(2,353	)	$	(7,829	)
Cost of Sales		(2,901	)		(3,959	)		(1,486	)		(1,415	)		73			(1,958	)		(1,577	)		(2,382	)		(5,844	)
Selling, General and Administrative Expenses		71,105			35,003			33,918			37,187			25,809			19,847			17,951			17,052			80,659
Operating Income		(71,187	)		(35,041	)		(33,945	)		(37,242	)		(27,775	)		(19,828	)		(18,018	)		(17,023	)		(82,644	)
Adjustments:
Cash Related Restructuring Costs (2)(3)		12,494			—			2,228			10,266			2,472			—			—			—			2,472
Stock Related Restructuring Costs (2)(3)		3,869			—			—			3,869			1,797			—			—			—			1,797
EBIT, as adjusted	$	(54,824	)	$	(35,041	)	$	(31,717	)	$	(23,107	)	$	(23,506	)	$	(19,828	)	$	(18,018	)	$	(17,023	)	$	(78,375	)
Depreciation and Amortization	$	3,631		$	3,774		$	1,816		$	1,815		$	1,816		$	1,836		$	1,844		$	1,930		$	7,426
2. Net Earnings — Reconciliation
Net Earnings	$	77,294			152,929		$	21,365		$	55,929		$	70,724		$	78,691		$	80,413		$	72,516		$	302,344
Adjustments:
Cash Related Restructuring Costs, net of tax		14,601			—			4,989			9,612			1,533			—			—			—			1,533
Stock Related Restructuring Costs, net of tax		2,399			—			—			2,399			1,114			—			—			—			1,114
Asset Impairment Charges — continuing operations, net of tax		3,267			—			3,267			—			—			—			—			—			—
Asset Impairment Charges — discontinued operations, net of tax		15,707			—			15,707			—			—			—			—			—			—
Out-of-period Adjustment, net of tax		—			—			—			—			6,076			—			—			—			6,076
Net Earnings, as adjusted		113,268			152,929			45,328			67,940			79,447			78,691			80,413			72,516			311,067
Purchase Price Amortization, net of tax (1)		5,802			7,781			2,674			3,128			4,059			3,526			3,633			4,148			15,366
Adjusted Net Earnings	$	119,070		$	160,710		$	48,002		$	71,068		$	83,506		$	82,217		$	84,046		$	76,664		$	326,433
Adjusted Net Earnings Per Diluted Share (2)	$	1.37		$	1.69		$	0.56		$	0.81		$	0.92		$	0.89		$	0.89		$	0.80		$	3.50
Diluted Weighted Average Shares		86,968			95,660			85,812			88,134			90,296			92,682			94,910			96,416			93,559
3. Cashflow — Reconciliation
Cash Flows from Operating Activities:
Net Earnings	$	77,294		$	152,929		$	21,365		$	55,929		$	70,724		$	78,691		$	80,413		$	72,516		$	302,344
Adjustments:
Cash Related Restructuring Costs, net of tax		9,372			—			5,220			4,152			1,533			—			—			—			1,533
Net Earnings, as adjusted		86,666			152,929			26,585			60,081			72,257			78,691			80,413			72,516			303,877
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash adjustments		106,239			72,633			61,260			44,979			51,625			41,548			34,591			38,042			165,806
Working capital adjustments		43,354			(18,893	)		23,822			19,532			34,628			(35,191	)		(17,375	)		(1,518	)		(19,456	)
Net cash provided by operating activities		236,259			206,669			111,667			124,592			158,510			85,048			97,629			109,040			450,227
Capital expenditures included in investing activities		(53,228	)		(57,166	)		(29,907	)		(23,321	)		(24,150	)		(26,940	)		(29,122	)		(28,044	)		(108,256	)
Adjusted Net Free Cash Flow	$	183,031		$	149,503		$	81,760		$	101,271		$	134,360		$	58,108		$	68,507		$	80,996		$	341,971

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.
(2)	During the three months ended March 31, 2011, we recorded a restructuring charge totaling totaling $19.4 million related to the departure of our former co-chief operating officer ($6.1 million of compensation and $3.6 million of stock acceleration), and other cost reduction initiatives ($9.7 million). Additionally, during the three months ended June 30, 2011, we recorded a restructuring charge totaling $7.9 million primarily related to an employee reduction program.
(3)	During the three months ended December 31, 2010, we recorded an immaterial error correction within cost of revenues totaling $9.8 million related to fiscal years 2007 and 2008. Additionally, we recorded a $4.3 million charge ($2.5 million of compensation and $1.8 million of stock acceleration) related to the departure of our former chief financial officer.
(4)	During the three months ended June 30, 2011, we recorded an asset impairment charge totaling $31.9 million ($5.2 million in continuing operations and $26.6 million in discontinued operations) relating to the write-down of net assets in certain underperforming operations that management has decided to dispose of or wind-down.