Manhattan Bridge Capital (LOAN) Tops Q3 EPS by 1c
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Manhattan Bridge Capital (NASDAQ: LOAN) reported Q3 EPS of $0.12, $0.01 better than the analyst estimate of $0.11.
Assaf Ran, Chairman of the Board and CEO, stated, “We continue to operate under challenging market conditions: real estate property prices are declining, listed houses are taking longer to sell, our borrowers are more hesitant to step in to new deals and yet the competition from other lenders remains intense. In addition, the market standard hard money annual interest rate dropped from 12% a year ago to 10% today. Given these conditions, I believe that the financial results for the third quarter reflect success. I believe that our loan portfolio is strong and solid, and will prevail despite the market slow down. Once again, we can proudly report that we have no defaulted loans,” added Mr. Ran.
For earnings history and earnings-related data on Manhattan Bridge Capital (LOAN) click here.
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