Capstead Mortgage Profit Rises On Revenue Growth

(RTTNews) - Capstead Mortgage Corp (CMO) Wednesday reported second-quarter net earnings to stockholders of $36.6 million or $0.35 per share, compared with $29.9 million or $0.04 per share last year.

Revenue for the quarter was up at $57.2 million, compared with $51.7 million in the prior year.

Analysts polled by Thomson Reuters projected earnings of $0.26 per share on revenue of $58.07 million for the quarter. Analysts' estimates typically exclude special items.

Capstead Mortgage earns income from investing in a leveraged portfolio of short-duration residential adjustable-rate mortgage pass-through securities, referred to as ARM securities, issued and guaranteed by government-sponsored enterprises.