MEMPHIS, Tenn. (AP) _ Jernigan Capital Inc. (JCAP) on Wednesday reported fourth-quarter earnings of $6.5 million.
The Memphis, Tennessee-based company said it had net income of 6 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The commercial real estate finance company posted revenue of $12.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $11.7 million.
For the year, the company reported profit of $44.4 million, or $1.11 per share. Revenue was reported as $45.1 million.
For the current quarter ending in April, Jernigan Capital expects its per-share earnings to range from 20 cents to 29 cents.
The company said it expects revenue in the range of $11.2 million to $11.5 million for the fiscal first quarter.
Jernigan Capital expects full-year earnings in the range of 52 cents to 87 cents per share, with revenue ranging from $49.1 million to $51.1 million.
Jernigan Capital shares have risen slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.40, a decrease of 9% in the last 12 months.