Black Knight InfoServ 8-K Lender Processing Services Reports Fourth Quarter and Full Year 2011 Earnings

Exhibit 99.1

Press Release

Investors:	Media:
Nancy Murphy	Michelle Kersch
(904) 854-8640	(904) 854-5043
nancy.murphy@lpsvcs.com	michelle.kersch@lpsvcs.com

Lender Processing Services Reports Fourth Quarter and Full Year 2011 Earnings

Fiscal year adjusted earnings per diluted share of $2.68 and free cash flow of $381 million

JACKSONVILLE, Fla. – February 13, 2012 – Lender Processing Services, Inc. (NYSE:LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today announced financial results for the fourth quarter and full year 2011.

“Today, LPS is a different and improved company. In 2011, we took the right steps to strengthen our core business and improve accountability in our operations by enhancing our management team,” said Hugh Harris, president and chief executive officer of LPS. “LPS has a significant opportunity to leverage our technologies and services and capitalize on our leading market positions, strong client relationships and expertise. Our priorities in 2012 are to continue to deliver outstanding service and technology solutions to our customers, demonstrate our commitment to operational excellence and leverage our strong cash flow to build shareholder value.”

Fiscal Year 2011

• Revenue of $2.1 billion

• GAAP earnings of $96.5 million or $1.13 per diluted share reflecting a charge of $1.42 per share, including a reserve for legal and regulatory actions and for exiting non-core businesses

• Adjusted earnings per diluted share of $2.68 excluding the fiscal year charge and reflecting the add back for purchase amortization

• Adjusted free cash flow of $381.2 million

Fourth Quarter 2011

• Revenue of $533.8 million

• GAAP net loss of $21.2 million or $0.25 loss per diluted share reflecting a charge of $0.94 per share, including a reserve for legal and regulatory actions and for exiting non-core businesses

• Adjusted earnings per diluted share of $0.72 excluding the fourth quarter charge and reflecting the add back for purchase amortization

• Adjusted free cash flow of $121.5 million

Expanded Customer Relationships

• Signed 7 new MSP customers and 15 new Desktop technology customers in 2011

• 8 of the top 10 mortgage institutions now use MSP and/or Desktop technology

• Developed technology solutions critical to helping customers with compliance requirements

“Although 2011 was a very challenging year, we generated solid earnings - adjusted EBITDA margin of 25 percent - and strong free cash flow,” commented Tom Schilling, chief financial officer. “Our Technology, Data and Analytics segment grew revenue and EBITDA for the third consecutive year. We continued to gain market share in our Loan Transaction Services segment, although revenue declined due to lower industry volumes in both mortgage refinance originations and notices of default.”

Fourth quarter results are adjusted for a pretax charge of $131.7 million, or $0.94 per diluted share, including $0.63 per share related to estimated legal and regulatory contingencies, $0.18 per share related to exiting non-core businesses, and $0.21 per share related to other non-recurring charges, partially offset by an $0.08 per share income tax benefit. The non-core businesses that were discontinued in the fourth quarter generated revenue of $51 million and an adjusted operating loss of $18 million in fiscal year 2011.

($ in millions, except EPS)

	Sequential								Full Year
GAAP	Q411			Q311		%PQ			FY11		FY10		%YOY
Revenue	$	545.8		$	532.1		2.6	%	$	2,141.5	$	2,420.8		-11.5	%
Q4 Discontinued Operations		12.0			12.7		-5.3	%		51.4		44.0		16.8	%
Revenue from Continuing Operations		533.8			519.4		2.8	%		2,090.1		2,376.9		-12.1	%
Operating Income		4.9			94.2		-94.8	%		290.2		580.1		-50.0	%
Net Earnings (Loss)		(21.2	)		40.5		nm			96.5		302.3		-68.1	%
EPS Diluted	$	(0.25	)	$	0.48		nm		$	1.13	$	3.23		-65.0	%

Adjusted Results	Q411		Q311		%PQ			FY11		FY10		%YOY
Revenue	$	533.8	$	519.4		2.8	%	$	2,090.1	$	2,376.9		-12.1	%
Operating Income		111.1		94.2		18.0	%		425.6		594.2		-28.4	%
Adjusted Net Earnings		60.4		49.4		22.3	%		228.9		326.4		-29.9	%
EPS Diluted	$	0.72	$	0.59		22.0	%	$	2.68	$	3.50		-23.4	%

Consolidated Fourth Quarter and Full Year Performance

Fourth quarter 2011 revenue was $533.8 million, a decrease of 13.6% compared to the prior year quarter, due to lower origination and default volume in the Loan Transaction Services segment which was partially offset by higher revenue in the Technology, Data and Analytics segment. Sequentially, fourth quarter revenue increased 2.8% as a result of higher origination volumes in the Loan Transaction Services segment and higher revenue in the Technology, Data and Analytics segment. Adjusting for the charges noted earlier, fourth quarter 2011 operating income was $111.1 million, down from $148.8 million in the comparable period in 2010, due to lower revenue in the Loan Transaction Services segment and higher legal and compliance expenses. Adjusted net earnings were $60.4 million, or $0.72 per diluted share.

Full year 2011 revenue was $2.1 billion, down 12.1% from the prior year, due to lower origination and default volume in the Loan Transaction Services segment. Loan Facilitation Services revenue was $539.3 million, a 14.6% decrease from 2010 which compares favorably to the industry decline in total market refinancing volume of 22% as reported by the Mortgage Bankers Association (MBA). Default Services revenue was $816.2 million, a 23.0% decline from the prior year, which compares favorably to the RealtyTrac report of a 30.8% industry-wide decline in default notices as compared to the prior year. Adjusting for the charges recorded during 2011, full year operating income was $425.6 million down from $594.2 million in the comparable period in 2010. Adjusted net earnings were $228.9 million, or $2.68 per diluted share.

Net cash provided by operating activities for full year 2011 increased to $477.9 million from $448.7 million in 2010. Adjusted free cash flow (net cash provided by operating activities minus certain non-recurring expenses and additions to property, equipment and computer software) was $381.2 million compared to $342.0 million in 2010. Fourth quarter adjusted free cash flow of $121.5 million exceeded guidance as a result of higher net earnings and changes in working capital primarily resulting from continued reductions in accounts receivable. Additionally, in the fourth quarter the company reduced debt by $112.3 million to $1.1 billion.

Technology, Data and Analytics Segment

Fourth quarter 2011 revenue was $192.1 million, up 4.7% from the same period in 2010. Mortgage Processing revenue increased 5.8% to $106.1 million primarily due to increased professional services revenue, while Other Technology, Data and Analytics revenue increased 3.5% to $86.0 million as a result of several Desktop implementations completed in 2011. Adjusted operating income increased to $65.5 million from $63.6 million in the fourth quarter 2010 primarily due to higher contributions from Mortgage Processing.

Loan Transaction Services Segment

Fourth quarter 2011 revenue was $343.0 million, down 21.4% from the same period in 2010 as a result of lower transaction volumes. Loan Facilitation Services revenue was $156.4 million, down 15.6% from the fourth quarter 2010, as a result of a decline in refinancing volume year over year. Sequentially, Loan Facilitation Services revenue increased 13.3% as a result of higher refinancing volume. Default Services revenue was $186.6 million, down 25.7% from the prior year quarter and 6.0% sequentially, due to a continued slowdown in the initiation of mortgage foreclosure proceedings industry-wide. Fourth quarter adjusted operating income for the segment was $75.6 million down from $108.7 million in the prior year period, due to lower operating leverage resulting from reduced volumes.

Corporate and Other

Net corporate expenses in the fourth quarter of 2011, excluding the impact of the corporate portion of charges recorded in the fourth quarter totaling $100.4 million, increased to $30.0 million from $23.5 million in the prior year quarter primarily due to higher legal and compliance related expenses.

Outlook

Based on the current environment, the company expects first quarter 2012 revenue to be in the range of $470 million to $490 million and adjusted earnings per diluted share to be in the range of $0.50 to $0.55.

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 “EBITDA” (GAAP operating income plus depreciation and amortization); “EBITDA, as adjusted” (EBITDA adjusted for the impact of certain non-recurring adjustments, if applicable); “EBIT, as adjusted” or “adjusted operating income” (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” or “adjusted EPS 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 measures. 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 today, Monday, February 13, 2012, at 5:00 p.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 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 February 20, 2012, by dialing 888-203-1112 (access code: 6443271).

To access a printer-friendly version of this release and accompanying exhibits, go toLPS Investor Relations.

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 enforcement actions, 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

Condensed Consolidated Statements of Operations

(Unaudited)

	Three months ended December 31,						Year ended December 31,
	2011			2010			2011			2010
	(In thousands, except per share data)
Revenues	$	533,832		$	618,152		$	2,090,112		$	2,376,861
Cost of revenues		360,200			416,961			1,418,324			1,562,818
Gross profit		173,632			201,191			671,788			814,043
Selling, general and administrative expenses		168,706			66,462			381,606			233,953
Operating income		4,926			134,729			290,182			580,090
Other income (expense):
Interest income		387			119			1,451			982
Interest expense		(16,622	)		(16,457	)		(67,583	)		(71,277	)
Other income (expense), net		(8	)		70			(182	)		340
Total other (expense)		(16,243	)		(16,268	)		(66,314	)		(69,955	)
Earnings (loss) from continuing operations before income taxes		(11,317	)		118,461			223,868			510,135
Provision (benefit) for income taxes		(7,133	)		44,036			81,062			193,849
Earnings (loss) from continuing operations		(4,184	)		74,425			142,806			316,286
Discontinued operations, net of tax		(17,017	)		(3,701	)		(46,263	)		(13,942	)
Net earnings (loss)	$	(21,201	)	$	70,724		$	96,543		$	302,344
Net earnings (loss) per share - diluted from continuing operations	$	(0.05	)	$	0.82		$	1.67		$	3.38
Net loss per share - diluted from discontinued operations		(0.20	)		(0.04	)		(0.54	)		(0.15	)
Net earnings (loss) per share - diluted	$	(0.25	)	$	0.78		$	1.13		$	3.23
Weighted average shares outstanding - diluted		84,430			90,296			85,685			93,559

Exhibit B

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited)

	December 31,
	2011			2010
	(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	77,355		$	52,287
Trade receivables, net		345,048			419,647
Other receivables		1,423			4,910
Prepaid expenses and other current assets		33,004			38,328
Deferred income taxes		74,006			44,102
Total current assets		530,836			559,274
Property and equipment, net		121,245			123,897
Computer software, net		228,882			217,573
Other intangible assets, net		39,140			58,269
Goodwill		1,132,828			1,159,539
Other non-current assets		192,484			133,291
Total assets	$	2,245,415		$	2,251,843
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt	$	39,310		$	145,154
Trade accounts payable		43,105			51,610
Accrued salaries and benefits		64,383			55,230
Recording and transfer tax liabilities		11,901			10,879
Other accrued liabilities		235,209			145,203
Deferred revenues		64,078			57,651
Total current liabilities		457,986			465,727
Deferred revenues		34,737			36,893
Deferred income taxes, net		122,755			96,732
Long-term debt, net of current portion		1,109,850			1,104,247
Other non-current liabilities		32,099			22,030
Total liabilities		1,757,427			1,725,629
Stockholders’ equity:
Preferred stock $0.0001 par value; 50 million shares authorized, none issued at December 31, 2011 and 2010		—			—
Common stock $0.0001 par value; 500 million shares authorized, 97.4 million shares issued at December 31, 2011 and 2010		10			10
Additional paid-in capital		250,533			216,896
Retained earnings		658,146			596,168
Accumulated other comprehensive loss		(1,783	)		(283	)
Treasury stock at cost; 13.0 million and 8.6 million shares at December 31, 2011 and 2010, respectively		(418,918	)		(286,577	)
Total stockholders’ equity		487,988			526,214
Total liabilities and stockholders’ equity	$	2,245,415		$	2,251,843

Exhibit C

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	Year ended December 31,
	2011			2010
	(In thousands)
Cash flows from operating activities:
Net earnings	$	96,543		$	302,344
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		98,828			98,761
Amortization of debt issuance costs		10,017			4,716
Asset impairment charges		71,995			—
Loss on sale of discontinued operations		849			—
Deferred income taxes, net		(4,761	)		30,417
Stock-based compensation cost		41,709			32,077
Income tax effect of equity compensation		873			(165	)
Changes in assets and liabilities, net of effects of acquisitions:
Trade receivables		72,446			(17,802	)
Other receivables		3,303			(1,126	)
Prepaid expenses and other assets		(6,274	)		(22,859	)
Deferred revenues		3,975			(11,687	)
Accounts payable, accrued liabilities and other liabilities		88,356			34,018
Net cash provided by operating activities		477,859			448,694
Cash flows from investing activities:
Additions to property and equipment		(32,768	)		(40,653	)
Additions to capitalized software		(72,111	)		(67,603	)
Purchases of investments, net of proceeds from sales		(21,509	)		(20,956	)
Acquisition of title plants and property records data		(23,967	)		(4,401	)
Acquisitions, net of cash acquired		(9,802	)		(18,823	)
Proceeds from sale of discontinued operation, net of cash distributed		4,451			—
Net cash used in investing activities		(155,706	)		(152,436	)
Cash flows from financing activities:
Borrowings		1,005,000			—
Debt service payments		(1,100,242	)		(40,109	)
Exercise of stock options and restricted stock vesting		(2,662	)		12,111
Income tax effect of equity compensation		(873	)		165
Dividends paid		(34,446	)		(37,139	)
Debt issuance costs paid		(22,059	)		—
Treasury stock repurchases		(136,878	)		(246,549	)
Bond repurchases		(4,925	)		—
Payment of contingent consideration related to acquisitions		—			(2,978	)
Net cash used in financing activities		(297,085	)		(314,499	)
Net increase (decrease) in cash and cash equivalents		25,068			(18,241	)
Cash and cash equivalents, beginning of year		52,287			70,528
Cash and cash equivalents, end of year	$	77,355		$	52,287
Supplemental disclosures of cash flow information:
Cash paid for interest	$	56,975		$	69,005
Cash paid for taxes	$	56,538		$	151,436

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

		CALENDAR YEAR						QUARTER
		2011			2010			Q4-2011			Q3-2011			Q2-2011			Q1-2011			Q4-2010			Q3-2010			Q2-2010			Q1-2010
1.	Revenues - Continuing Operations
	Technology, Data and Analytics (TD&A):
	Mortgage Processing	$	417,586		$	402,692		$	106,123		$	106,365		$	102,765		$	102,333		$	100,341		$	102,362		$	102,356		$	97,633
	Other TD&A		323,106			290,572			86,007			78,247			77,937			80,915			83,118			77,561			66,246			63,647
	Total		740,692			693,264			192,130			184,612			180,702			183,248			183,459			179,923			168,602			161,280
	Loan Transaction Services:
	Loan Facilitation Services		539,303			631,313			156,431			138,096			110,371			134,405			185,341			162,546			137,579			145,847
	Default Services		816,188			1,060,113			186,563			198,525			210,100			221,000			251,245			265,454			274,743			268,671
	Total		1,355,491			1,691,426			342,994			336,621			320,471			355,405			436,586			428,000			412,322			414,518
	Corporate and Other		(6,071	)		(7,829	)		(1,292	)		(1,796	)		(1,513	)		(1,470	)		(1,893	)		(1,939	)		(1,644	)		(2,353	)
	Total Revenue	$	2,090,112		$	2,376,861		$	533,832		$	519,437		$	499,660		$	537,183		$	618,152		$	605,984		$	579,280		$	573,445
	Revenue Growth from Prior Year Period
	Technology, Data and Analytics:
	Mortgage Processing		3.7	%		3.8	%		5.8	%		3.9	%		0.4	%		4.8	%		-3.7	%		-0.6	%		14.3	%		7.1	%
	Other TD&A		11.2	%		16.0	%		3.5	%		0.9	%		17.6	%		27.1	%		24.7	%		20.5	%		1.7	%		17.2	%
	Total		6.8	%		8.6	%		4.7	%		2.6	%		7.2	%		13.6	%		7.4	%		7.5	%		9.0	%		10.9	%
	Loan Transaction Services:
	Loan Facilitation Services		-14.6	%		15.8	%		-15.6	%		-15.0	%		-19.8	%		-7.8	%		30.1	%		20.9	%		-7.4	%		22.0	%
	Default Services		-23.0	%		-6.8	%		-25.7	%		-25.2	%		-23.5	%		-17.7	%		-9.8	%		-12.6	%		-8.3	%		5.2	%
	Total		-19.9	%		0.5	%		-21.4	%		-21.4	%		-22.3	%		-14.3	%		3.7	%		-2.3	%		-8.0	%		10.6	%
	Corporate and Other		n/m			n/m			n/m			n/m			n/m			n/m			n/m			n/m			n/m			n/m
	Total Revenue		-12.1	%		3.4	%		-13.6	%		-14.3	%		-13.7	%		-6.3	%		4.9	%		1.3	%		-2.8	%		11.2	%
2.	Depreciation and Amortization
	Depreciation and Amortization	$	67,332		$	59,335		$	18,201		$	15,276		$	17,142		$	16,713		$	16,883		$	15,386		$	13,875		$	13,191
	Purchase Price Amortization		16,076			22,536			3,854			3,796			3,803			4,623			5,341			5,338			5,499			6,358
	Other Amortization		6,968			7,208			1,876			1,750			1,682			1,660			1,676			1,653			1,958			1,921
	Total continuing operations		90,376			89,079			23,931			20,822			22,627			22,996			23,900			22,377			21,332			21,470
	Depreciation and Amortization - Discontinued Operations		8,452			9,682			1,144			3,496			1,940			1,872			3,047			2,143			2,308			2,184
	Total Depreciation and Amortization	$	98,828		$	98,761		$	25,075		$	24,318		$	24,567		$	24,868		$	26,947		$	24,520		$	23,640		$	23,654
3.	Stock Compensation Expense
	Stock Compensation Expense, Excluding Acceleration Charges	$	31,190		$	30,280		$	6,880		$	9,313		$	8,238		$	6,759		$	8,228		$	8,215		$	7,280		$	6,557
	Stock Acceleration Expense		10,519			1,797			6,650			—			—			3,869			1,797			—			—			—
	Total Stock Compensation Expense	$	41,709		$	32,077		$	13,530		$	9,313		$	8,238		$	10,628		$	10,025		$	8,215		$	7,280		$	6,557

LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES	Exhibit D - Continued
SUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED
(In thousands)

		CALENDAR YEAR						QUARTER
		2011			2010			Q4-2011			Q3-2011			Q2-2011			Q1-2011			Q4-2010			Q3-2010			Q2-2010			Q1-2010
4.	Reconciliation of Discontinued Operations
	Discontinued Operations, as previously reported (1)
	Revenue	$	18,770		$	35,498		$	1,312		$	5,702		$	6,045		$	5,711		$	7,012		$	9,038		$	9,280		$	10,168
	Cost of Revenues		48,487			35,420			1,336			5,684			35,362			6,105			9,261			8,288			8,294			9,577
	Selling, General and Administrative Expenses		3,067			7,027			182			189			1,580			1,116			1,647			1,602			1,888			1,890
	Operating Loss		(32,784	)		(6,949	)		(206	)		(171	)		(30,897	)		(1,510	)		(3,896	)		(852	)		(902	)		(1,299	)
	Total Other Income (Expense)		(539	)		301			1,548			(2,195	)		43			65			110			95			34			62
	Income (Loss) Before Income Taxes		(33,323	)		(6,648	)		1,342			(2,366	)		(30,854	)		(1,445	)		(3,786	)		(757	)		(868	)		(1,237	)
	Benefit for Income Taxes		(14,666	)		(2,524	)		(661	)		(887	)		(12,569	)		(549	)		(1,431	)		(289	)		(331	)		(473	)
	Net Earnings (Loss)	$	(18,657	)	$	(4,124	)	$	2,003		$	(1,479	)	$	(18,285	)	$	(896	)	$	(2,355	)	$	(468	)	$	(537	)	$	(764	)
	Technology, Data and Analytics (2)
	Revenue	$	38,736		$	33,877		$	9,143		$	9,136		$	10,172		$	10,285		$	10,582		$	7,955		$	7,326		$	8,014
	Cost of Revenues		38,897			21,141			17,042			5,916			8,175			7,764			6,001			4,816			4,974			5,350
	Selling, General and Administrative Expenses		15,227			15,309			3,695			3,765			3,819			3,948			3,846			3,749			3,843			3,871
	Operating Income (Loss)		(15,388	)		(2,573	)		(11,594	)		(545	)		(1,822	)		(1,427	)		735			(610	)		(1,491	)		(1,207	)
	Total Other Income (Expense)		104			18			42			34			29			(1	)		5			4			4			5
	Income (Loss) Before Income Taxes		(15,284	)		(2,555	)		(11,552	)		(511	)		(1,793	)		(1,428	)		740			(606	)		(1,487	)		(1,202	)
	Provision (Benefit) for Income Taxes		(5,797	)		(972	)		(4,398	)		(192	)		(665	)		(542	)		290			(232	)		(570	)		(460	)
	Net Earnings (Loss)	$	(9,487	)	$	(1,583	)	$	(7,154	)	$	(319	)	$	(1,128	)	$	(886	)	$	450		$	(374	)	$	(917	)	$	(742	)
	Loan Transaction Services (2)
	Revenue	$	12,637		$	10,099		$	2,858		$	3,541		$	3,219		$	3,019		$	3,074		$	3,063		$	3,195		$	767
	Cost of Revenues		40,173			22,696			21,788			6,975			5,396			6,014			5,740			6,068			6,106			4,782
	Selling, General and Administrative Expenses		1,667			1,061			247			395			520			505			344			359			281			77
	Operating Loss		(29,203	)		(13,658	)		(19,177	)		(3,829	)		(2,697	)		(3,500	)		(3,010	)		(3,364	)		(3,192	)		(4,092	)
	Total Other Income (Expense)		21			374			—			(4	)		25			—			154			24			—			196
	Loss Before Income Taxes		(29,182	)		(13,284	)		(19,177	)		(3,833	)		(2,672	)		(3,500	)		(2,856	)		(3,340	)		(3,192	)		(3,896	)
	Benefit for Income Taxes		(11,063	)		(5,049	)		(7,311	)		(1,437	)		(984	)		(1,331	)		(1,060	)		(1,278	)		(1,221	)		(1,490	)
	Net Loss	$	(18,119	)	$	(8,235	)	$	(11,866	)	$	(2,396	)	$	(1,688	)	$	(2,169	)	$	(1,796	)	$	(2,062	)	$	(1,971	)	$	(2,406	)
	Discontinued Operations, as adjusted
	Revenue	$	70,143		$	79,474		$	13,313		$	18,379		$	19,436		$	19,015		$	20,668		$	20,056		$	19,801		$	18,949
	Cost of Revenues		127,557			79,257			40,166			18,575			48,933			19,883			21,002			19,172			19,374			19,709
	Selling, General and Administrative Expenses		19,961			23,397			4,124			4,349			5,919			5,569			5,837			5,710			6,012			5,838
	Operating Loss		(77,375	)		(23,180	)		(30,977	)		(4,545	)		(35,416	)		(6,437	)		(6,171	)		(4,826	)		(5,585	)		(6,598	)
	Total Other Income (Expense)		(414	)		693			1,590			(2,165	)		97			64			269			123			38			263
	Loss Before Income Taxes		(77,789	)		(22,487	)		(29,387	)		(6,710	)		(35,319	)		(6,373	)		(5,902	)		(4,703	)		(5,547	)		(6,335	)
	Benefit for Income Taxes		(31,526	)		(8,545	)		(12,370	)		(2,516	)		(14,218	)		(2,422	)		(2,201	)		(1,799	)		(2,122	)		(2,423	)
	Net Loss	$	(46,263	)	$	(13,942	)	$	(17,017	)	$	(4,194	)	$	(21,101	)	$	(3,951	)	$	(3,701	)	$	(2,904	)	$	(3,425	)	$	(3,912	)
	Discontinued Operations - Reconciliation
	Net Loss, as reported	$	(46,263	)	$	(13,942	)	$	(17,017	)	$	(4,194	)	$	(21,101	)	$	(3,951	)	$	(3,701	)	$	(2,904	)	$	(3,425	)	$	(3,912	)
	Adjustments:
	Impairment and Restructuring Charges, net (3)		34,251			—			16,454			—			17,759			38			—			—			—			—
	(Gain)/Loss on Disposal of Operations, net (4)		558			—			(928	)		1,486			—			—			—			—			—			—
	Net Loss, as adjusted		(11,454	)		(13,942	)		(1,491	)		(2,708	)		(3,342	)		(3,913	)		(3,701	)		(2,904	)		(3,425	)		(3,912	)
	Purchase Price Amortization, net		857			1,397			201			122			272			262			707			230			238			222
	Adjusted Net Loss	$	(10,597	)	$	(12,545	)	$	(1,290	)	$	(2,586	)	$	(3,070	)	$	(3,651	)	$	(2,994	)	$	(2,674	)	$	(3,187	)	$	(3,690	)
	Adjusted Net Loss Per Diluted Share	$	(0.13	)	$	(0.13	)	$	(0.02	)	$	(0.03	)	$	(0.04	)	$	(0.04	)	$	(0.03	)	$	(0.03	)	$	(0.03	)	$	(0.04	)
	Diluted Weighted Average Shares		85,685			93,559			84,430			84,415			85,812			88,134			90,296			92,682			94,910			96,416

Notes:

(1) Represents the quarterly results of business units that were reflected as discontinued operations as of September 30, 2011.

(2) During the fourth quarter of 2011, we discontinued certain operations that were previously included within the Technology, Data & Analytics and Loan Transaction Services segments. The historical results for these operations have been reclassified from continuing operations to discontinued operations, as summarize above.

(3) Includes charges totaling $57.0 million ($34.3 million net of tax) relating to severance accruals and the write-down of net assets for businesses that have been classified as discontinued operations.

(4) Reflects the (gain) or loss, net of tax, included in “Total Other Income (Expense)” above, recognized upon the disposition of business units that have been sold or disposed of.

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

		CALENDAR YEAR						QUARTER
		2011			2010			Q4-2011			Q3-2011			Q2-2011			Q1-2011			Q4-2010			Q3-2010			Q2-2010			Q1-2010
1.	Operating Results - Continuing Operations
	Consolidated
	Revenue	$	2,090,112		$	2,376,861		$	533,832		$	519,437		$	499,660		$	537,183		$	618,152		$	605,984		$	579,280		$	573,445
	Cost of Revenues		1,418,324			1,562,818			360,200			357,397			350,000			350,727			416,961			398,071			371,473			376,313
	Selling, General and Administrative Expenses		381,606			233,953			168,706			67,848			68,994			76,058			66,462			58,806			53,803			54,882
	Operating Income		290,182			580,090			4,926			94,192			80,666			110,398			134,729			149,107			154,004			142,250
	Adjustments:
	Legal and Regulatory Accrual (1)		78,484			—			78,484			—			—			—			—			—			—			—
	Restructuring Charges (2)		33,403			4,269			12,132			—			5,977			15,294			4,269			—			—			—
	Asset Impairment and Other Charges		23,509			—			15,582			—			3,910			4,017			—			—			—			—
	Out-of-period Adjustment (3)		—			9,800			—			—			—			—			9,800			—			—			—
	EBIT, as adjusted	$	425,578		$	594,159		$	111,124		$	94,192		$	90,553		$	129,709		$	148,798		$	149,107		$	154,004		$	142,250
	EBIT Margin, as adjusted		20.4	%		25.0	%		20.8	%		18.1	%		18.1	%		24.1	%		24.1	%		24.6	%		26.6	%		24.8	%
	Depreciation and Amortization		90,376			89,079			23,931			20,822			22,627			22,996			23,900			22,377			21,332			21,470
	EBITDA, as adjusted	$	515,954		$	683,238		$	135,055		$	115,014		$	113,180		$	152,705		$	172,698		$	171,484		$	175,336		$	163,720
	EBITDA Margin, as adjusted		24.7	%		28.7	%		25.3	%		22.1	%		22.7	%		28.4	%		27.9	%		28.3	%		30.3	%		28.6	%
	Technology, Data and Analytics
	Revenue	$	740,692		$	693,264		$	192,130		$	184,612		$	180,702		$	183,248		$	183,459		$	179,923		$	168,602		$	161,280
	Cost of Revenues		437,088			378,576			112,806			105,803			110,689			107,790			105,343			95,316			87,049			90,868
	Selling, General and Administrative Expenses		67,752			58,699			19,869			15,661			15,387			16,835			14,555			15,757			14,336			14,051
	Operating Income		235,852			255,989			59,455			63,148			54,626			58,623			63,561			68,850			67,217			56,361
	Adjustments:
	Restructuring Charges (2)		8,394			—			1,519			—			4,641			2,234			—			—			—			—
	Asset Impairment and Other Charges		4,855			—			4,515			—			340			—			—			—			—			—
	EBIT, as adjusted	$	249,101		$	255,989		$	65,489		$	63,148		$	59,607		$	60,857		$	63,561		$	68,850		$	67,217		$	56,361
	EBIT Margin, as adjusted		33.6	%		36.9	%		34.1	%		34.2	%		33.0	%		33.2	%		34.6	%		38.3	%		39.9	%		34.9	%
	Depreciation and Amortization		67,942			59,901			17,649			17,125			16,382			16,786			16,066			14,896			14,257			14,682
	EBITDA, as adjusted	$	317,043		$	315,890		$	83,138		$	80,273		$	75,989		$	77,643		$	79,627		$	83,746		$	81,474		$	71,043
	EBITDA Margin, as adjusted		42.8	%		45.6	%		43.3	%		43.5	%		42.1	%		42.4	%		43.4	%		46.5	%		48.3	%		44.0	%
	Loan Transaction Services
	Revenue	$	1,355,491		$	1,691,426		$	342,994		$	336,621		$	320,471		$	355,405		$	436,586		$	428,000		$	412,322		$	414,518
	Cost of Revenues		987,089			1,190,086			248,618			253,322			240,797			244,352			311,545			304,713			286,001			287,827
	Selling, General and Administrative Expenses		78,482			94,595			18,506			18,251			19,689			22,036			26,098			23,202			21,516			23,779
	Operating Income		289,920			406,745			75,870			65,048			59,985			89,017			98,943			100,085			104,805			102,912
	Adjustments:
	Restructuring Charges (2)		3,757			—			(259	)		—			1,074			2,942			—			—			—			—
	Asset Impairment and Other Charges		1,604			—			—			—			1,604			—			—			—			—			—
	Out-of-period Adjustment (3)		—			9,800			—			—			—			—			9,800			—			—			—
	EBIT, as adjusted	$	295,281		$	416,545		$	75,611		$	65,048		$	62,663		$	91,959		$	108,743		$	100,085		$	104,805		$	102,912
	EBIT Margin, as adjusted		21.8	%		24.6	%		22.0	%		19.3	%		19.6	%		25.9	%		24.9	%		23.4	%		25.4	%		24.8	%
	Depreciation and Amortization		15,432			21,753			4,575			2,033			4,429			4,395			6,019			5,645			5,231			4,858
	EBITDA, as adjusted	$	310,713		$	438,298		$	80,186		$	67,081		$	67,092		$	96,354		$	114,762		$	105,730		$	110,036		$	107,770
	EBITDA Margin, as adjusted		22.9	%		25.9	%		23.4	%		19.9	%		20.9	%		27.1	%		26.3	%		24.7	%		26.7	%		26.0	%
	Corporate and Other
	Revenue	$	(6,071	)	$	(7,829	)	$	(1,292	)	$	(1,796	)	$	(1,513	)	$	(1,470	)	$	(1,893	)	$	(1,939	)	$	(1,644	)	$	(2,353	)
	Cost of Revenues		(5,853	)		(5,844	)		(1,224	)		(1,728	)		(1,486	)		(1,415	)		73			(1,958	)		(1,577	)		(2,382	)
	Selling, General and Administrative Expenses		235,372			80,659			130,331			33,936			33,918			37,187			25,809			19,847			17,951			17,052
	Operating Loss		(235,590	)		(82,644	)		(130,399	)		(34,004	)		(33,945	)		(37,242	)		(27,775	)		(19,828	)		(18,018	)		(17,023	)
	Adjustments:
	Legal and Regulatory Accrual (1)		78,484			—			78,484			—			—			—			—			—			—			—
	Restructuring Charges (2)		21,252			4,269			10,872			—			262			10,118			4,269			—			—			—
	Asset Impairment and Other Charges		17,050			—			11,067			—			1,966			4,017			—			—			—			—
	EBIT, as adjusted	$	(118,804	)	$	(78,375	)	$	(29,976	)	$	(34,004	)	$	(31,717	)	$	(23,107	)	$	(23,506	)	$	(19,828	)	$	(18,018	)	$	(17,023	)
	Depreciation and Amortization		7,002			7,425			1,707			1,664			1,816			1,815			1,815			1,836			1,844			1,930
	EBITDA, as adjusted	$	(111,802	)	$	(70,950	)	$	(28,269	)	$	(32,340	)	$	(29,901	)	$	(21,292	)	$	(21,691	)	$	(17,992	)	$	(16,174	)	$	(15,093	)

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

		CALENDAR YEAR						QUARTER
		2011			2010			Q4-2011			Q3-2011			Q2-2011			Q1-2011			Q4-2010			Q3-2010			Q2-2010			Q1-2010
2.	Net Earnings - Reconciliation
	Net Earnings (Loss)	$	96,543		$	302,344		$	(21,201	)	$	40,450		$	21,365		$	55,929		$	70,724		$	78,691		$	80,413		$	72,516
	Adjustments - Continuing Operations:
	Legal and Regulatory, net (1)		53,086			—			53,086			—			—			—			—			—			—			—
	Restructuring Charges, net (2)		20,601			2,647			7,364			—			3,754			9,483			2,647			—			—			—
	Asset Impairment and Other Charges, net		14,398			—			9,458			—			2,450			2,490			—			—			—			—
	Out-of-period Adjustment, net (3)		—			6,076			—			—			—			—			6,076			—			—			—
	Total EBIT Adjustments to Continuing Operations		88,085			8,723			69,908			—			6,204			11,973			8,723			—			—			—
	Adjustments - Discontinued Operations:
	Impairment and Restructuring Charges, net		34,251			—			16,454			—			17,759			38			—			—			—			—
	(Gain)/Loss on Disposal of Operations, net		558			—			(928	)		1,486			—			—			—			—��			—			—
	Total Adjustments to Discontinued Operations		34,809			—			15,526			1,486			17,759			38			—			—			—			—
	Adjustments - Non-operating:
	Write-off of Debt Issuance Costs, net (4)		4,978			—			—			4,978			—			—			—			—			—			—
	Prior Year Tax Benefit		(6,458	)		—			(6,458	)		—			—			—			—			—			—			—
	Total Non-operating Adjustments		(1,480	)		—			(6,458	)		4,978			—			—			—			—			—			—
	Net Earnings, as adjusted		217,957			311,067			57,775			46,914			45,328			67,940			79,447			78,691			80,413			72,516
	Purchase Price Amortization, net(5)		10,952			15,366			2,655			2,495			2,674			3,128			4,059			3,526			3,633			4,148
	Adjusted Net Earnings	$	228,909		$	326,433		$	60,430		$	49,409		$	48,002		$	71,068		$	83,506		$	82,217		$	84,046		$	76,664
	Adjusted Net Earnings Per Diluted Share	$	2.68		$	3.50		$	0.72		$	0.59		$	0.56		$	0.81		$	0.92		$	0.89		$	0.89		$	0.80
	Diluted Weighted Average Shares		85,685			93,559			84,430			84,415			85,812			88,134			90,296			92,682			94,910			96,416
3.	Cash Flow - Reconciliation
	Cash Flows from Operating Activities:
	Net Earnings (Loss)	$	96,543		$	302,344		$	(21,201	)	$	40,450		$	21,365		$	55,929		$	70,724		$	78,691		$	80,413		$	72,516
	Adjustments:
	Cash Related Restructuring Costs, net		8,177			1,533			(3,302	)		2,107			5,220			4,152			1,533			—			—			—
	Net Earnings (Loss), as adjusted		104,720			303,877			(24,503	)		42,557			26,585			60,081			72,257			78,691			80,413			72,516
	Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
	Non-cash adjustments		219,510			165,806			62,763			50,508			61,260			44,979			51,625			41,548			34,591			38,042
	Working capital adjustments		161,806			(19,456	)		106,696			11,756			23,822			19,532			34,628			(35,191	)		(17,375	)		(1,518	)
	Net cash provided by operating activities		486,036			450,227			144,956			104,821			111,667			124,592			158,510			85,048			97,629			109,040
	Capital expenditures included in investing activities		(104,879	)		(108,256	)		(23,408	)		(28,243	)		(29,907	)		(23,321	)		(24,150	)		(26,940	)		(29,122	)		(28,044	)
	Adjusted Net Free Cash Flow	$	381,157		$	341,971		$	121,548		$	76,578		$	81,760		$	101,271		$	134,360		$	58,108		$	68,507		$	80,996

Notes:

(1) During 2011, we recognized a pre-tax legal and regulatory contingency accrual of $78.5 million ($53.1 million after tax) for estimated settlement and third-party legal expenses related to various ongoing legal and regulatory matters.

(2) Restructuring charges reflect the impact of the departure of certain executives including our former chief executive officer, co-chief operating officer and chief financial officer, as well as the impact of various restructuring programs. In connection with these initiatives, during 2011 and 2010, we recorded pre-tax restructuring charges totaling $22.9 million and $2.5 million ($14.2 million and $1.5 million net of tax), respectively, and equity acceleration charges of $10.5 million and $1.8 million ($6.4 million and $1.1 million net of tax), respectively.

(3) During 2010, we recorded an immaterial error correction within cost of revenues totaling $9.8 million related to fiscal years 2007 and 2008.

(4) During 2011, we recorded a charge totaling $8.0 million ($5.0 million net of tax) related to the write-off of certain debt issuance costs in connection with the refinancing of our senior credit facilities.

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