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Annaly Capital Management Q4 Profit Soars

Annaly Capital Management, Inc. (NLY) reported a spike in fourth-quarter GAAP net income available to common shareholders to $700.5 million or $0.68 per share from $445.6 million or $0.44 per share in the year ago quarter. The latest quarter result reflected a total other income profit as opposed to a loss in the same period last year.

Without the effect of the unrealized gains or losses on interest rate swaps and Agency interest-only mortgage-backed securities and net loss on extinguishment of 4% Convertible Senior Notes Due 2015, net income for the quarter, was $465.1 million or $0.46 per share compared to $525.3 million or $0.54 per share in the year ago quarter.

Net interest income for the quarter declined to $571.17 million from $717.56 million in the prior year.

Total other for the quarter was $163.28 million, compared to a loss of $191.61 million in the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

by RTTNews Staff Writer

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