Manhattan Bridge Capital (LOAN) Misses Q2 EPS by 1c, Revenues Beat

July 26, 2019 7:15 AM EDT
Get Alerts LOAN Hot Sheet
Price: $6.81 -1.3%

Today's EPS Names:
More
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Manhattan Bridge Capital (NASDAQ: LOAN) reported Q2 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $1.78 million versus the consensus estimate of $1.17 million.

Assaf Ran, Chairman of the Board and CEO, stated, “The real estate market in the geographical areas in which we operate is slow and uncertain. In addition, we still face a high level of competition. Therefore, the interest rate we are able to charge has dropped by approximately 2%. These factors generate a challenging working environment for us, but we still managed to increase net earnings and maintain our default-free track record. In addition, we recently announced a geographical expansion to New Jersey, Connecticut and Florida. Rest assured that our high loan quality standards will not be compromised.”

For earnings history and earnings-related data on Manhattan Bridge Capital (LOAN) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings, Management Comments

Related Entities

Earnings