Orchid Island Capital (ORC) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $2.45 million, or $ 0.07 a share in the quarter, against a net loss of $4.59 million, or $0.21 a share in the last year period.
The company has not recorded any revenues for the current as well as previous quarter.
Total expenses were $2.42 million for the quarter, up 11.01 percent or $0.24 million from year-ago period.
Operating loss for the quarter was $2.42 million, compared with an operating loss of $2.18 million in the previous year period.
Net receivables were at $13.19 million as on Mar. 31, 2017, down 90.61 percent or $127.32 million from year-ago.
Investments stood at $3,274.45 million as on Mar. 31, 2017, up 65.55 percent or $1,296.58 million from year-ago.
Total assets jumped 54.35 percent or $1,197.55 million to $3,401.11 million on Mar. 31, 2017. On the other hand, total liabilities were at $3,066.90 million as on Mar. 31, 2017, up 56.17 percent or $1,103.11 million from year-ago.
Return on assets for the quarter stood at negative 0.05 percent as compared to a negative 0.26 percent for the previous year period. Return on equity was at 0.73 percent in the quarter against a negative 1.91 percent in the last year period.
Debt increases substantially Total debt was at $3,050.61 million as on Mar. 31, 2017, up 57.29 percent or $1,111.12 million from year-ago. Shareholders equity stood at $334.21 million as on Mar. 31, 2017, up 39.38 percent or $94.43 million from year-ago. As a result, debt to equity ratio went up 104 basis points to 9.13 percent in the quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
