Newcastle Investment Q4 Profit Rises - Quick Facts

(RTTNews.com) - Newcastle Investment Corp. ( NCT ) reported that its fourth quarter of 2012 income available for common stockholders was $55.58 million, or $0.32 per share, compared to $19.30 million, or $0.18 per share, in the fourth quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Valuation reversal on loans was $16.43 million, compared to Valuation allowance on loans of $23.06 million in the year ago quarter.

Core earnings for the quarter increased to $32.55 million from $31.99 million in the year ago quarter. However, Core earnings per share declined to $0.19 from $0.30 last year.

Net interest income after impairment for the quarter jumped to $60.48 million from $16.72 million in the prior year quarter. Total other revenues was $10.98 million, up from $488 thousand last year.

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