First Foundation Q1 Profit Increases, Beats Estimates

(RTTNews) - First Foundation (FFWM) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $6.89 million, or $0.08 per share. This compares with $0.793 million, or $0.01 per share, last year.

Excluding items, First Foundation reported adjusted earnings of $7.12 million or $0.09 per share for the period.

Analysts on average had expected the company to earn $0.03 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.8% to $141.74 million from $150.45 million last year.

First Foundation earnings at a glance (GAAP) :

-Earnings: $6.89 Mln. vs. $0.793 Mln. last year. -EPS: $0.08 vs. $0.01 last year. -Revenue: $141.74 Mln vs. $150.45 Mln last year.