News Column

Arlington Asset Investment Corp. Reports First Quarter 2014 Financial Results

May 17, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") reported non-GAAP core operating income of $20.1 million for the quarter ended March 31, 2014, or $1.18 per share (diluted). A reconciliation of non-GAAP core operating income to GAAP net income appears at the end of this press release. On a GAAP basis, the Company reported net income of $7.0 million for the quarter ended March 31, 2014, or $0.41 per share (diluted), compared to net income of $40.0 million for the quarter ended December 31, 2013, or $2.36 per share (diluted), and net income of $3.2 million, or $0.23 per share (diluted), for the quarter ended March 31, 2013.

"Arlington continues to benefit from its hybrid portfolio structure, earning competitive returns on its hedged, agency-backed MBS portfolio and simultaneously experiencing capital appreciation in its private-label MBS portfolio. The Company's capital raise during the quarter was accretive to investable book value and will positively impact future cash earnings while further reducing the Company's expense to capital ratio, boosting return on equity, and efficiently utilizing tax benefits. These positive trends should continue as the Company completes the full deployment of capital from the offering and shifts capital from its maturing private-label MBS portfolio into its higher current cash returning hedged agency-backed MBS portfolio," said J. Rock Tonkel, Jr., the Company's President and Chief Operating Officer.

Keywords for this news article include: Banking and Finance, Investment and Finance, Arlington Asset Investment Corp..

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Source: Investment Weekly News


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