logo
Share SHARE
FONT-SIZE Plus   Neg

First Marblehead Sells Legacy Trust Administration Business For $13.7 Mln

First Marblehead Corp. (FMD) announced the sale of First Marblehead Data Services Inc., its legacy trust administration business, to Route 66 Ventures, Inc., d/b/a Goal Structured Solutions, for $13.7 million in cash. The Company expects to record a gain of approximately $12.5 million in the quarter ending March 31, 2012 related to this transaction.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically... Automotive parts retailer AutoZone, Inc. on Tuesday reported a 6 percent increase in profit for the third quarter from last year, reflecting growth in sales and higher inventory on new store openings. However, both revenue and earnings per share for the quarter missed analysts' expectations. Toll Brothers, Inc. (TOL), the nation's leading builder of luxury homes, reported second-quarter net income of $89.1 million, or $0.51 per share, compared to $67.9 million, or $0.37 per share, prior year. Pre-tax income increased to $140.4 million from $86.5 million. On average, 18 analysts polled by...
comments powered by Disqus
Follow RTT