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.
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