Oritani Financial Corp. Announces Unaudited Consolidated Earnings Results for Three and Nine Months Ended March 31, 2018; Provides Tax Guidance for Fiscal Year Ending June 30, 2018
For nine months, the company reported total interest income was $113,533,000 compared to $105,897,000 for the same period a year ago. Income before income tax expense was $55,293,000 compared to $71,287,000 for the same period a year ago. Net income was $29,391,000 or $0.65 per diluted earnings per share compared to $46,253,000 $1.04 per diluted earnings per share for the same period a year ago.
The company's estimated effective tax rate for the fiscal year ending June 30, 2018 decreased from 37.2% to 30.5%. The company's estimated effective tax rate is expected to decrease further in the periods following the conclusion of its fiscal year, ending June 30, 2018.