Sutherland Asset Management Corporation Announces Third Quarter 2016 Results

In addition to the results presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), this press release includes Core Earnings which is a non-U.S. GAAP financial measure. The Company defines Core Earnings as net income adjusted for unrealized gains (losses) related to mortgage backed securities and non-recurring expenses.

The Company believes that providing investors with this non-U.S. GAAP financial information, in addition to the related U.S. GAAP measures, gives investors greater transparency into the information used by management in its financial and operational decision-making. However, because Core Earnings is an incomplete measure of the Company's financial performance and involves differences from net income computed in accordance with U.S. GAAP, it should be considered along with, but not as an alternative to, the Company's net income computed in accordance with U.S. GAAP as a measure of the Company's financial performance. In addition, because not all companies use identical calculations, the Company's presentation of Core Earnings may not be comparable to other similarly-titled measures of other companies.

The following table reconciles net income computed in accordance with U.S. GAAP to Core Earnings for the three months ended September 30, 2016:

Earnings Conference Call

Management will host a conference call on Tuesday, November 22, 2016 at 10:00 am EDT to provide a general business update and discuss the financial results for the quarter ended September 30, 2016.  Supplemental financial data is attached hereto.  The conference call can be accessed by dialing (888) 267-2860.  The passcode is 374125.

A replay of the call will be available approximately two hours after the live call and will be available through December 6, 2016.  To access the replay, dial (800) 332-6854.  The passcode is 374125.

The live broadcast of the Company's quarterly conference call will also be available online at the Company's website, www.sutherlandam.com, on Tuesday, November 22, 2016, beginning at 10:00 am EDT. The online replay will follow shortly after the call and will be available for approximately one year.

In addition to filing or furnishing required information to the U.S. Securities and Exchange Commission, the Company uses its website as a channel of distribution of material Company information. Financial and other material information regarding the Company is routinely posted on the Company's website and is readily accessible.

Safe Harbor Statement

This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, applicable regulatory changes; risks associated with acquisitions, including the integration and implementation of the Merger;  risks associated with achieving expected revenue synergies, cost savings and other benefits from the Merger and the increased scale of the combined company; general volatility of the capital markets; changes in the Company's investment objectives and business strategy; the availability of financing on acceptable terms or at all; the availability, terms and deployment of capital; the availability of suitable investment opportunities; changes in the interest rates or the general economy; increased rates of default and/or decreased recovery rates on investments; changes in interest rates, interest rate spreads, the yield curve or prepayment rates; changes in prepayments of Company's assets; the degree and nature of competition, including competition for the Company's target assets; and other factors, including those set forth in the Risk Factors section of the Company's Registration Statement on Form S-4, the most recent Annual Report on Form 10-K filed with the SEC on March 10, 2016, Form 10-K/A filed with the SEC on April 29, 2016 and other reports filed by the Company with the SEC, copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact

Additional information can be found on the Company's website at www.sutherlandam.com.

SUTHERLAND ASSET MANAGEMENT CORPORATION UNAUDITED CONSOLIDATED BALANCE SHEETS
(In Thousands)		September 30, 2016			December 31, 2015
Assets:
Cash and cash equivalents		$	38,458		$	41,569
Restricted cash			15,935			14,757
Short term investments			249,997			249,989
Loans, held for sale, at fair value			23,314			—
Loans, held at fair value			233,618			155,134
Loans, held-for-investment (net of allowances for loan losses of $11,629 at    September 30, 2016 and $12,255  at December 31, 2015			923,465			927,218
Mortgage backed securities, at fair value			34,812			213,504
Real estate acquired in settlement of loans			6,275			8,224
Derivative instruments, at fair value			363			723
Servicing rights			23,351			27,250
Intangible assets			1,000			1,000
Assets of consolidated VIEs:
Cash and cash equivalents			77			26
Restricted cash			904			1,362
Loans, held-for-investment (net of allowances for loan losses of $3,352 at    September 30, 2016 and $4,867  at December 31, 2015			543,857			633,720
Real estate acquired in settlement of loans			3,734			5,257
Accrued interest			2,252			2,557
Due from servicers			3,508			6,121
Deferred financing costs			3,645			4,788 Werbung Mehr Nachrichten zur Sutherland Asset Management Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 08:13 - PR Newswire Stellar Asset Management Ltd - Form 8.3 - Equals Group Plc 23.04.24 - ARIVA.DE Redaktion Aktienmarkt: Leichte Gewinne im Dow Jones (38.484 Pkt.) 23.04.24 - ARIVA.DE Redaktion Aktienmarkt: Nasdaq 100 mit leichten Zugewinnen (17.388 Pkt.) Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59