Builders Capital Mortgage Corp. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
Builders Capital Mortgage Corp. announced earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported mortgage revenue increased slightly to $842,000, from $835,000 in 2016. The fourth quarter revenue represents annualized gross revenue of 12.5% of gross share capital, compared to 14.0% in 2016. Total comprehensive income decreased by 20.3% to $533,000, or $0.20 per share, from $669,000, or $0.28 per share, in 2016. The fourth 2017 income translates to earnings of $0.31 per Class A Non-Voting Share, compared to earnings of $0.48 per Class A Non-Voting Share in 2016.
For the 2016 fiscal year, mortgage revenue was $3.4 million, virtually unchanged from 2016. Full-year 2017 revenue comprised $3.1 million in interest and $266,000 in lender fees, representing annualized gross revenue of 13.3% of the weighted average gross share capital, compared to 14.4% in 2016. Comprehensive income of $2.4 million, or $0.94 per share, declined by 12.3% from $2.7 million, or $1.15 per share, in 2016. This translates to earnings of $1.53 per Class A Non-Voting Share, compared to earnings of $1.97 per Class A Non-Voting Share in 2016.