Redwood Trust, Inc. Profit Declines 58% In Q3

(RTTNews) - Redwood Trust, Inc. (RWT) announced earnings for third quarter that declined from last year.

The company said its bottom line totaled $19 million, or $0.22 per share. This was lower than $45 million, or $0.50 per share, in last year's third quarter.

Analysts had expected the company to earn $0.32 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0% to $40 million. This was down from $40 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q3): $19 Mln. vs. $45 Mln. last year. -Earnings Decline (Y-o-Y): -57.8% -EPS (Q3): $0.22 vs. $0.50 last year. -EPS Decline (Y-o-Y): -56.0% -Analysts Estimate: $0.32 -Revenue (Q3): $40 Mln vs. $40 Mln last year. -Revenue Change (Y-o-Y): 0%