Stonegate Mortgage Corporation (SGM) has reported a 6,840.08 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $36.02 million, or $1.39 a share in the quarter, compared with $0.52 million, or $0.04 a share for the same period last year. On the other hand, adjusted net income from continuing operations for the quarter stood at $1.60 million, or $0.06 a share compared with $1.19 million or $0.05 a share, a year ago.
Revenue during the quarter surged 67.06 percent to $78.21 million from $46.82 million in the previous year period. Non-interest income for the quarter rose 82.19 percent over the last year period to $70.73 million.
Assets, liabilities fall
Total assets stood at $1,176.74 million as on Dec. 31, 2016, down 8.11 percent compared with $1,280.63 million on Dec. 31, 2015. On the other hand, total liabilities stood at $916.79 million as on Dec. 31, 2016, down 10.03 percent from $1,019 million on Dec. 31, 2015. Net loans were flat at $30 million as on Dec. 31, 2016, when compared with the last year period.
Investments stood at $21.27 million as on Dec. 31, 2016, up 74.93 percent or $9.11 million from year-ago. Shareholders equity stood at $259.95 million as on Dec. 31, 2016, down 0.64 percent or $1.68 million from year-ago.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
