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

July 26, 2019 7:15 AM EDT
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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.

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