Capital reports 3Q jump.Capital Trust, Inc. reported third quarter 2005 net income of 64 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , an increase of 28% compared to 50 cents per share for the comparable period of the prior year. "We are pleased to report another quarter of solid operating results, driven by strong growth in our balance sheet business," said John Klopp, Capital Trust's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Originations hit a new record, and we completed our third CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the , continuing to drive down our cost of capital and better match fund our balance sheet." Total assets were $1.3 billion at September 30, 2005, reflecting a $300 million (29%) increase from June 30, 2005 and a $455 million (52%) increase from $878 million at December 31, 2004. The primary drivers of asset growth were new originations of both new loans and CMBS CMBS See: Commercial Mortgage Backed Securities that totaled $339 million for the quarter and $751 million year to date. Total liabilities as of September 30, 2005 were $1.0 billion, comprised primarily of collateralized debt obligations ("CDOs") and repurchase obligations. At quarter end, $824 million (84%) of the company's interest bearing liabilities were in the form of CDOs, which provide non recourse, non mark-to-market, term matched financing for the company's assets. Based on GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. , book value per share was $21.70 at September 30, 2005, compared to $21.03 at December 31, 2004. Included in these calculations are 166,303 and 173,549 shares representing in-the-money options at September 30, 2005 and December 31, 2004, respectively, in addition to the shares outstanding. The Company currently acts as investment manager for two private equity funds, CT Mezzanine Partners II LP ("Fund II") and CT Mezzanine Partners III, Inc. ("Fund III"). For the quarter ended September 30, 2005, the company reported total revenues of $24.9 million and net income of $9.8 million, representing basic earnings per share of 65 cents and diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of of 64 cents. When compared to the prior quarter, total revenues increased by $2.9 million (13%), net income by $1.0 million (11%) and earnings per share by 6 cents (10%) on a diluted basis. For the same period in 2004, the Company reported total revenues of $15.2 million and net income of $5.9 million (diluted earnings per share of 50 cents). |
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