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American Capital Mortgage Posts Higher Q1 Profit

American Capital Mortgage Investment Corp. (MTGE: Quote) reported net income for the first quarter of $21.3 million or $1.82 per share, compared to $17.2 million or $1.72 per share for the year-ago quarter.

Net spread income for the first quarter was $12.5 million or $1.07 per share, compared to $8.7 million or $0.86 per share in the prior year quarter.

Net interest income for the first quarter rose to $14.9 million from $10.9 million a year ago. Total other gains grew to $8.5 million from $8.1 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.87 per share on revenue of $11.48 million for the first quarter. Analysts' estimates typically exclude special items.

by RTT Staff Writer

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