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Article: Capital Alliance Income Trust Ltd. Announces Strong Third Quarter Results and Distinguishes Itself From Subprime Lenders Suffering Liquidity Problems.
- Article from:
- Business Wire
- Article date:
- October 15, 1998
CopyrightCOPYRIGHT 1998 Business Wire. 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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SAN FRANCISCO--(BUSINESS WIRE)--Oct. 15, 1998--Capital Alliance Income Trust Ltd., a home mortgage real estate investment trust (AMEX:CAA), announced strong earnings of $310,871 for the third quarter and $729,083 for the nine months ending September 30, 1998 (a 55.4% increase), compared with $156,426 and $404,006 for the same periods in 1997.
Capital Alliance noted that the results for the periods used are not strictly comparable due to the increased capitalization of the company in the 1998 periods as a result of its recently completed $12 million IPO.
Thomas B. Swartz, Chairman and CEO, noted that the long-planned commencement of trading of the ...