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Article: Delta not down about latest low.
- Article from:
- Newsday (Melville, NY)
- Article date:
- May 9, 2007
CopyrightCOPYRIGHT 2007 Newsday. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James Bernstein
May 9--Delta Financial Corp. of Woodbury, which originates and sells mortgage loans, yesterday reported lower earnings in the first quarter, a result of the slowdown in the housing market across the country.
Delta said it earned $4.9 million in the quarter, compared with $6.6 million in the same period last year. On a per-share basis, Delta earned 20 cents, down from 31 cents in the first quarter of 2006.
"While we are not immune to the effects of the current challenging market conditions and potential future market disruptions, we believe we are well positioned to continue to grow as we believe the demand for subprime ...