DJSP Enterprises, Inc. Reports Revenue of $71.6 Million and Adjusts Its 2010 Guidance AKA Law Offices of DAVID J. STERN

DJSP Enterprises, Inc. Reports Revenue of $71.6 Million and Adjusts Its 2010 Guidance AKA Law Offices of DAVID J. STERN

DJSP Enterprises, Inc. Reports Revenue of $71.6 Million and Adjusts Its 2010 Guidance AKA Law Offices of DAVID J. STERN

PLANTATION, Fla., May 27 /PRNewswire-FirstCall/ — DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW, DJSPU), one of the largest providers of processing services for the mortgage and real estate industries in the United States, today announced financial results for the three months ending March 31, 2010.

First Quarter Financial Highlights

Total revenue for the quarter increased 30.1% to $71.6 million from $55.0 million in last year’s comparable period.
Excluding client costs, revenue from the quarter increased to $30.8 million from $30.0 million compared to same period last year.
Adjusted Net Income was $8.7 million for the first quarter or $0.35 per share.
– the adjusted net income would have increased by $732 thousand but for one time
interest on bridge financing and other expenses related to the transaction in which
the company acquired its processing operations
Adjusted EBITDA for the first quarter was $14.4 million.

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RELATED STORY:

NASDAQ, DJSP Enterprises Major Shareholders David J. Stern (Law office Foreclosure Mill) and Kerry S. Propper Subject of Department of Justice Investigation And SBA Law Suit.

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