Chimera Investment Corporation (CIM) has reported 120.47 percent jump in profit for the year ended Dec. 31, 2016. The company has earned $551.94 million, or $2.92 a share in the year, compared with $250.35 million, or $1.25 a share for the last year.

The company has not recorded any revenues for the current as well as previous year.

Total expenses were $66.12 million for the year, down 34.08 percent or $34.18 million from year-ago.  

Operating loss for the year was $66.12 million, compared with an operating loss of $100.30 million in the previous year.      

"Chimera’s portfolio produced a positive total return despite a significant rise in long term interest rates in the fourth quarter of 2016", said Matthew Lambiase, chimera's chief executive officer and president. "Full year 2016 included meaningful new investments in securitized mortgage loans which helped us grow earnings. We finished our first calendar year as an internally managed company and remain committed to creating value for our shareholders."

Investments stood at $12,093.39 million as on Dec. 31, 2016, down 19.24 percent or $2,881.15 million from year-ago.

Total assets grew 8.73 percent or $1,340.26 million to $16,684.91 million on Dec. 31, 2016. On the other hand, total liabilities were at $13,561.38 million as on Dec. 31, 2016, up 9.38 percent or $1,162.92 million from year-ago.

Return on assets moved up 207 basis points to 5.39 percent in the year. At the same time, return on equity moved up 909 basis points to 17.59 percent in the year.