This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Newcastle Investment Corp. (NYSE:NCT) (the “Company”) today reported the following information for the quarter ended September 30, 2013:
GAAP Income of $0.09 per diluted share
Core Earnings of $0.08 per diluted share
Declared common dividend of $0.10 per share, or $29 million
GAAP book value of $2.74
The Company’s third quarter GAAP Income was $27.8 million, or $0.09 per diluted share, and Core Earnings was $23.9 million, or $0.08 per diluted share.
Q2 2013(Pro forma excluding 45 days ofNew Residential earnings*)
Summary Operating Results:
GAAP Income per Diluted Share
Core Earnings per Diluted Share**
GAAP Book Value:
For a reconciliation of GAAP Income to Core Earnings, please refer to theReconciliation of Core Earnings and Pro forma Core Earnings table below.*“Newcastle excluding 45 days of New Residential earnings” excludes the 45 days of earnings in the three months ended June 30, 2013 generated by New Residential prior to New Residential’s spin-off from Newcastle on May 15, 2013.**The Company amended its definition of Core Earnings to exclude acquisition and spin-off related expenses in the third quarter of 2013.The calculation of Core Earnings has been retroactively adjusted for all periods presented.
Had Newcastle’s average uninvested cash balance of $120 million been invested at management’s expected returns since the beginning of the quarter, and if GateHouse debt had converted to equity and GateHouse obtained the anticipated debt facility, the full quarter earnings would have increased by $11 million, or $0.04 per share.