DALLAS (AP) _ Capstead Mortgage Corp. (CMO) on Wednesday reported second-quarter net income of $22.7 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had profit of 19 cents per share. Earnings, adjusted for non-recurring gains, came to 18 cents per share.
The real estate investment trust posted revenue of $48.2 million in the period.
Capstead shares have declined 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.08, a drop of 32% in the last 12 months.