Redwood Trust, Inc. Earnings Advance 147% In Q1

(RTTNews) - Redwood Trust, Inc. (RWT) announced a profit for its first quarter that increased from last year.

The company said its bottom line came in at $37 million, or $0.44 per share. This was higher than $15 million, or $0.16 per share, in last year's first quarter.

Analysts had expected the company to earn $0.28 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.0% to $38 million. This was down from $40 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q1): $37 Mln. vs. $15 Mln. last year. -Earnings Growth (Y-o-Y): 146.7% -EPS (Q1): $0.44 vs. $0.16 last year. -EPS Growth (Y-o-Y): 175.0% -Analysts Estimate: $0.28 -Revenue (Q1): $38 Mln vs. $40 Mln last year. -Revenue Change (Y-o-Y): -5.0%