Missouri Mortgage Second
NovaStar Financial Q2 Net Income Declines; Declares Dividend ...
(RTTNews) - Thursday evening, NovaStar Financial, Inc. (NFI | charts | news | PowerRating), a residential lender and mortgage Real Estate Investment Trust or REIT, revealed second-quarter results, reporting a decline in net income. In addition, the company's Board of Directors declared a common stock dividend for the quarter.
For the second-quarter, the Missouri-based company's net income available to common stockholders was $33.07 million, down 13% from $37.86 million a year earlier. Earnings per share available to common stockholders for the quarter were $0.99, down from $1.29 per share last year. On average, three analysts polled by First Call/Thomson Financial estimated earnings of $0.79 per share for the quarter.
Portfolio net interest income declined 1% to $54.9 million.
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MIDDAY BUSINESS REPORT: Waddell & Reed shares soar despite wider ...
Waddell & Reed Financial Inc. reported a wider second-quarter loss after taking two non-recurring charges, one for a regulatory settlement and the other for a write-down at a subsidiary.
The Overland Park-based mutual fund company reported a net loss of $33 million, or 40 cents a share, compared with a net loss of $7.1 million, or 9 cents per share, a year earlier.
The non-recurring charges included a pre-tax charge of $55 million, or 48 cents per share, in connection with settlements reached Monday with the Securities and Exchange Commission and state regulators over market timing abuses.
The other non-recurring charge of $20 million, or 24 cents per share, recognized the impairment of goodwill at Austin Clavert & Flavin Inc., a San Antonio-based subsidiary.