ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Tuesday reported a fourth-quarter loss of $15.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Atlanta-based company said it had a loss of 65 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The real estate finance company posted revenue of $31.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $30 million.
For the year, the company reported profit of $28.8 million, or $1.17 per share. Revenue was reported as $110.4 million.
Angel Oak shares have risen 3% since the beginning of the year. The stock has declined almost 9% in the last 12 months.
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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 AOMR at https://www.zacks.com/ap/AOMR
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