Firm Capital Mortgage Investment Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 06, 2022
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Firm Capital Mortgage Investment Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was CAD 16.37 million compared to CAD 11.92 million a year ago. Net income was CAD 8.18 million compared to CAD 7.57 million a year ago. Basic earnings per share from continuing operations was CAD 0.237 compared to CAD 0.241 a year ago. Diluted earnings per share from continuing operations was CAD 0.234 compared to CAD 0.238 a year ago.
For the nine months, revenue was CAD 42.86 million compared to CAD 34.86 million a year ago. Net income was CAD 24.28 million compared to CAD 22.25 million a year ago. Basic earnings per share from continuing operations was CAD 0.708 compared to CAD 0.716 a year ago. Diluted earnings per share from continuing operations was CAD 0.699 compared to CAD 0.706 a year ago.
Firm Capital Mortgage Investment Corporation is a Canada-based company. The Company, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing. It specializes in three investment areas: Mortgage Operations, Real Estate Operations and Special Situation Investments. Its investment objective is the preservation of shareholders' capital while providing shareholders with a stable stream of monthly dividends from the Company's investments. The Company achieves its investment objectives by pursuing a strategy of growth through investments in selected niche markets that are under-serviced by large lending institutions. FCC provides loan origination, underwriting, loan servicing, and syndication services. Its investment portfolio includes conventional first mortgages; conventional non-first mortgages; related debt investments; debtor in possession loan, and non-conventional mortgages.
FIRM CAPITAL MORTGAGE INVESTMENT CORPORATION 
