ARLINGTON, Va. (AP) _ Arlington Asset Investment Corp. (AI) on Wednesday reported first-quarter net income of $17.6 million, after reporting a loss in the same period a year earlier.
The company, based in Arlington, Virginia, said it had earnings of 52 cents per share. Earnings, adjusted for non-recurring gains, came to 32 cents per share.
The investment company posted revenue of $33.8 million in the period. Its revenue net of interest expense was $7.9 million, which beat Street forecasts.
Arlington Asset Investment shares have risen slightly more than 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.91, a drop of 30% in the last 12 months.
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