SAN FRANCISCO (Thomson Financial) - Alesco Financial Inc. late Monday
reported adjusted earnings of $31.2 million, or 53 cents a share, versus $7.4
million, or 26 cents a share, a year earlier.
The Philadelphia-based real estate investment trust swung to a net loss of
$729.3 million, or $12.31 a share, from a net profit of $3.6 million, or 13
cents a share, the prior year quarter.
The latest results include a non-cash charge of about $775 million from
write-downs in the fair value of mortgage-backed securities, other
collateralized-debt obligations, and trust-preferred securities investments, the
company said.
Net investment income for the quarter ended Dec. 31 rose to $26 million from
$9.63 million a year earlier.
The stock closed the regular session up 39 cents, or about 17%, at $2.71.
Brigid Gaffikin
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