Bimini Capital Management, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2020
August 13, 2020 at 04:05 pm EDT
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Bimini Capital Management, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2020. For the quarter, the company reported net revenues of $2,185,021 against $2,412,661 a year ago. Net profit was $3,468,125 against net loss of $501,722 a year ago. Basic and diluted net profit per share on Class A and B share was $0.30 against loss of $0.04 a year ago.
For the six months, the company reported net revenues of $5,037,104 against $4,855,786 a year ago. Net loss was $18,864,822 against net profit of $1,116,881 a year ago. Basic and diluted net loss per share on Class A and B share was $1.62 against profit of $0.09 a year ago.
Bimini Capital Management, Inc. is a specialty finance company. The Company operates through two segments: the asset management segment and the investment portfolio segment. The investment portfolio segment includes the investment activities conducted at Bimini Capitalâs wholly owned subsidiary, Royal Palm Capital, LLC (Royal Palm). The asset management segment includes investment advisory services provided by Bimini Advisors Holdings, LLC (Bimini Advisors) to Orchid Island Capital, Inc (Orchid). Its portfolio consists of two categories of Agency mortgage-backed securities (MBS): traditional pass-through Agency MBS, such as mortgage pass-through certificates and collateralized mortgage obligations, and structured Agency MBS, such as interest-only securities and principal-only securities. The Companyâs wholly owned subsidiaries include is Bimini Capital Management, Inc, Royal Palm, and Bimini Advisors. Royal Palm maintains an investment portfolio, consisting primarily of MBS.
BIMINI CAPITAL MANAGEMENT, INC. 