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Orchid Island posts 1Q profit

VERO BEACH, Fla. (AP) _ Orchid Island Capital Inc. (ORC) on Thursday reported first-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Vero Beach, Florida-based company said it had net income of 7 cents.

Orchid Island shares have risen nearly 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.93, an increase of 5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORC at https://www.zacks.com/ap/ORC


Keywords: Orchid Island, Earnings Report