VERO BEACH, Fla. (AP) _ Orchid Island Capital Inc. (ORC) on Thursday reported second-quarter net income of $48.8 million.
The Vero Beach, Florida-based company said it had net income of 73 cents per share. Earnings, adjusted for non-recurring gains, came to 30 cents per share.
Orchid Island shares have decreased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.05, a decline of 26% in the last 12 months.