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Article: Imperial Credit Commercial Mortgage Investment Corp. Announces First Quarter 1998 Results
- Article from:
- PR Newswire
- Article date:
- May 6, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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LOS ANGELES, May 6 /PRNewswire/ -- Imperial Credit Commercial Mortgage Investment Corp. (Nasdaq: ICMI) today reported net earnings of $7.8 million, or $0.23 per share (on both a basic and diluted basis) for the quarter ended March 31, 1998.
Mark S. Karlan, the President and CEO of the Company, stated, "We are extremely pleased with our first quarter results. During the quarter, our Company made approximately $156 million of additional investments. In addition, we entered into a warehouse line of credit for $500 million with Morgan Guaranty Trust Company of New York (a subsidiary of J.P. Morgan & Co. Incorporated) and a reverse repurchase loan facility for ...