SEATTLE (AP) — SEATTLE (AP) — Broadmark Realty Capital Inc. (BRMK) on Monday reported a fourth-quarter loss of $153 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of $1.15. Earnings, adjusted for non-recurring costs and stock option expense, were 9 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The company posted revenue of $21.1 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $25.8 million.
For the year, the company reported a loss of $116.4 million, or 88 cents per share, swinging to a loss in the period. Revenue was reported as $108.9 million.
The company’s shares closed at $4.19. A year ago, they were trading at $8.55.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRMK at https://www.zacks.com/ap/BRMK
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