News about ORC

Orchid Island Capital (NYSE: ORC) estimates a loss of $0.90 per share in the third quarter, as losses on mortgage securities and derivatives reduced book value, and has declared another $0.10 monthly dividend. These preliminary figures remain subject to change and review by its independent accounting firm. This compares with a profitable second quarter, when the company reported net income of $89.2 million, or $0.44 per share, supported by $60.0 million of net interest income and $36.0 million of gains. Book value was $7.22 per share at June 30, and the company had $776.0 million of cash, cash equivalents and unpledged securities. Full third-quarter results will be published after the NYSE closes on October 22, with a conference call on October 23 at 10 a.m. Eastern time.