The Company's share of foreign currency transaction gains from its consolidated and unconsolidated foreign operations was $0.7 million for Q3 2010, compared to $0.1 million of foreign currency transaction gains for the same period in 2009. Our combined foreign currency exchange gain in Q3 2010 related primarily to our European operations (the Euro currency strengthened against the U.S. dollar more in Q3 2010 compared to Q3 2009).Equity in earnings of unconsolidated subsidiaries was $10.0 million in Q3 2010 compared to $0.4 million for Q3 2009. This significant increase was due to additional equity earnings of $9.9 million and $0.6 million from our special situations platform subsidiaries and foreign servicing entities, respectively, recorded in Q3 2010 compared to Q3 2009. This increase was off-set partially by $1.0 million of lower equity earnings from our domestic and foreign acquisition partnerships recorded in Q3 2010 compared to Q3 2009. In Q3 2010, we recorded $12.4 million in equity earnings from our equity-method investment related to a prefabricated building manufacturer (an unconsolidated subsidiary of our special situations platform). This entity reported significantly-higher net earnings in Q3 2010 related to a short-term lease agreement with a single customer. This lease agreement does not extend beyond September 2010.
FirstCity Financial Corporation Reports Third Quarter 2010 Results
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