Dynex Capital (DX) has reported an 112.29 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $69.06 million, or $1.36 a share in the quarter, compared with $32.53 million, or $0.61 a share for the same period last year. On an adjusted basis, earnings per share were at $0.20 for the quarter compared with $0.25 in the same period last year. Revenue during the quarter dropped 18.20 percent to $16.10 million from $19.69 million in the previous year period.
Total expenses were $3.57 million for the quarter, down 16.62 percent or $0.71 million from year-ago period. Operating margin for the quarter contracted 42 basis points over the previous year period to 77.82 percent.
Operating income for the quarter was $12.53 million, compared with $15.40 million in the previous year period. However, the adjusted operating income for the quarter stood at $9.96 million compared to $12.70 million in the prior year period.
Receivables move up
Net receivables were at $32.37 million as on Dec. 31, 2016, up 11.80 percent or $3.42 million from year-ago. Investments stood at $3,259.66 million as on Dec. 31, 2016, down 7.85 percent or $277.49 million from year-ago.
Total assets declined 7.42 percent or $272.32 million to $3,397.73 million on Dec. 31, 2016. On the other hand, total liabilities were at $2,930.55 million as on Dec. 31, 2016, down 7.79 percent or $247.48 million from year-ago.
Return on assets moved up 53 basis points to 2.03 percent in the quarter. At the same time, return on equity moved up 814 basis points to 14.29 percent in the quarter.
Debt comes down
Total debt was at $2,905.39 million as on Dec. 31, 2016, down 6.81 percent or $212.47 million from year-ago. Shareholders equity stood at $467.18 million as on Dec. 31, 2016, down 5.05 percent or $24.84 million from year-ago. As a result, debt to equity ratio went down 12 basis points to 6.22 percent in the quarter.
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