Altisource Portfolio Solutions S.A. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue was $255.8 million against $268.32 million a year ago. Income from operations was $27.22 million against $56.19 million a year ago. Income before income taxes and non-controlling interests was $24 million against $51.24 million a year ago. Net income attributable to the company was $20 million against $46 million a year ago. Diluted earnings per share were $1.02 against $2.22 a year ago. Adjusted net income attributable to Altisource was $31 million against $47.22 million a year ago. Adjusted diluted earnings per share were $1.58 against $2.28 a year ago. Adjusted pretax income was $36 million compared to $51.7 million in the second quarter of 2015, a 30% decrease. The company generated $40.4 million of cash from operations, representing 17% of service revenue.

For the six months, the company reported total revenue was $505.93 million against $508.8 million a year ago. Income from operations was $54.87 million against $71.44 million a year ago. Income before income taxes and non-controlling interests was $45.06 million against $56.05 million a year ago. Net income attributable to the company was $38.49 million against $49.65 million a year ago. Diluted earnings per share were $1.94 against $2.38 a year ago. Net cash provided by operating activities was $69.405 million against $54.81 million a year ago. Additions to premises and equipment were $12.4 million against $21.42 million a year ago. Adjusted net income attributable to Altisource was $60.42 million against $59.1 million a year ago. Adjusted diluted earnings per share were $3.05 against $2.84 a year ago.

For the year 2016, the company expects tax rate in the range of 12% to 14%.