Builders Capital Mortgage Corp. Announces Earnings Results for the Fourth Quarter and Full Year December 31, 2016
Builders Capital Mortgage Corp. announced earnings results for the fourth quarter and full year December 31, 2016. For the quarter, the company reported mortgage revenue of $835,000, down by 5% from the $879,000 reported in 2015. The fourth quarter 2016 revenue represents annualized gross revenue of 14% of gross share capital, compared to 14.4% in 2015. Comprehensive income increased by 2% to $669,000, or $0.28 per share, up from $656,000, or $0.27 per share, in 2015. The 2016 income translates to earnings of $0.282 per Class A Non-Voting Share, compared to earnings of $0.276 per Class A Non-Voting Share in the final quarter of 2015.
For the 2016 fiscal year, mortgage revenue of $3.4 million, or 14.4% of gross share capital, was down by 10% from $3.8 million, or 15.6% of gross share capital, in 2015. Comprehensive income for 2016 was $2.7 million, or $1.15 per share, down by 8.8% from $3 million, or $1.23 per share, in 2015.