IndyMac Bank (NDE) Tops Q1 EPS by 3c; Guides
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IndyMac Bank (NYSE: NDE) reports Q1 earnings of $0.70 per share, 3 cents better than estimates. Revenues came in at $302.1 million versus the consensus of $292.4 million.
Anticipates second quarter earnings performance will be similar to the first quarter. Said, ""We had previously provided guidance related to the second half of 2007 in which we indicated that we were projecting the ROE to be at or slightly above 15 percent. Our current forecast now shows the ROE in the second half being approximately 13.5 percent with the fourth quarter ROE at roughly 15 percent." Also said, "The primary reasons for the lowering of our second half of 2007 guidance are the removal from our forecast of the preferred stock issuance and related share repurchase, which had been projected to increase the second half ROE by about 1.5 percent. We have not yet completed the preferred stock offering given current market conditions."
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