First Foundation (FFWM) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $6.89 million, or $0.08 per share. This compares with $0.793 million, or $0.01 per share, last year.
Excluding items, First Foundation reported adjusted earnings of $7.12 million or $0.09 per share for the period.
Analysts on average had expected the company to earn $0.03 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 5.8% to $141.74 million from $150.45 million last year.
First Foundation earnings at a glance (GAAP) :
-Earnings: $6.89 Mln. vs. $0.793 Mln. last year.
-EPS: $0.08 vs. $0.01 last year.
-Revenue: $141.74 Mln vs. $150.45 Mln last year.
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