Redwood Trust, Inc. Bottom Line Declines In Q1, but beats estimates

(RTTNews) - Redwood Trust, Inc. (RWT) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $31 million, or $0.24 per share. This compares with $97 million, or $0.72 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Redwood Trust, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $31 Mln. vs. $97 Mln. last year. -EPS (Q1): $0.24 vs. $0.72 last year. -Analyst Estimates: $0.15