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February 11, 2013
17:44 EDTNCTNewcastle Investment sees Q4 core EPS 18c-20c, consensus 28c
Newcastle Investment disclosed in a regulatory filing that the decrease in core earnings relative to Q3 is principally attributable to Newcastle’s average uninvested cash balance during Q4, which was largely a result of its decision to preserve cash for a potential co-investment in excess mortgage servicing rights from Residential Capital, and higher general and administrative expenses associated with certain transactions, such as ResCap and the planned spin-off of New Residential Investment. Although not reflected in the calculation of core earnings, the impact of uninvested cash during Q4 was partially offset by Newcastle’s receipt of a breakup fee related to the termination of the ResCap agreements. Net income in the fourth quarter will be lower relative to Q3, principally as a result of Newcastle’s recognition in Q3 of a $224M net gain on the sale of its interests in a collateralized debt obligation.
News For NCT From The Last 14 Days
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November 24, 2015
14:29 EDTNCTJoshus Schechter reports 6.2% stake in Newcastle Investment
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14:25 EDTNCTNewcastle Investment holder Schechter says firm trades at discount to NAV

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