Cascade Bancorp Inc. Reveals 66% Retreat In Q1 Earnings

(RTTNews) - Cascade Bancorp Inc. (CACB) revealed a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line declined to $1.9 million, or $0.03 per share. This was down from $5.6 million, or $0.08 per share, in last year's first quarter.

Analysts had expected the company to earn $0.06 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 10.1% to $27.62 million. This was up from $25.09 million last year.

Cascade Bancorp Inc. earnings at a glance:

-Earnings (Q1): $1.9 Mln. vs. $5.6 Mln. last year. -Earnings Decline (Y-o-Y): -66.1% -EPS (Q1): $0.03 vs. $0.08 last year. -EPS Decline (Y-o-Y): -62.5% -Analysts Estimate: $0.06 -Revenue (Q1): $27.62 Mln vs. $25.09 Mln last year. -Revenue Change (Y-o-Y): 10.1%