New York Mortgage Trust (NYMT) Lowers Q2 EPS Guidance Related to Payment
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New York Mortgage Trust, Inc. (Nasdaq: NYMT) updating its recently issued earnings guidance of $0.20 to $0.22 per common share for its second quarter. The Company now expects earnings of $0.15 to $0.16 per common share.
The adjustment to the earnings estimate issued on June 30, 2008 reflects the Company's payment of approximately $460,000 in liquidated damages that accrued pursuant to a registration rights agreement entered into by the Company in connection with its February 2008 private offering of common stock. The prior earnings estimate had assumed the waiver of these liquidated damages by the parties to the registration rights agreement. Excluding the payment of these liquidated damages, the Company continues to expect earnings of $0.20 to $0.22 per common shared for the 2008 second quarter.
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