Redwood Trust: Q4 Earnings Snapshot

MILL VALLEY, Calif. (AP) — MILL VALLEY, Calif. (AP) — Redwood Trust Inc. (RWT) on Tuesday reported fourth-quarter net income of $21 million.

The Mill Valley, California-based company said it had profit of 15 cents per share. Earnings, adjusted for non-recurring gains, were 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The specialty finance company posted revenue of $190 million in the period. Its adjusted revenue was $20 million, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $23.8 million.

For the year, the company reported a loss of $2 million, or 11 cents per share. Revenue was reported as $93 million.

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