Jernigan Capital, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter Ending March 31, 2018 and Year Ending December 31, 2018
For the year, the company reported total revenues were $12,191,000 compared with $6,532,000 a year ago. Operating income was $2,143,000 compared with loss of $3,152,000 a year ago. Net income attributable to common stockholders was $13,103,000 or $1.10 per basic and diluted per share compared with $15,021,000 or $2.42 per basic and diluted per share a year ago. Adjusted earnings were $15,649,000 compared with $19,346,000 a year ago. Adjusted earnings per share attributable to common stockholders diluted was $1.31 compared with loss per share were $3.11 a year ago.
For the first quarter ended March 31, 2018, the company expects adjusted earnings in the range of $1,945,000 to $2,730,000, adjusted earnings per share - diluted in the range of $0.13 to $0.19, loss per share diluted in the range of $0.09 to $0.03, net loss attributable to common stockholders in the range of $1,320,000 to $465,000, net income in the range of $2,215,000 to $3,065,000, total revenues in the range of $4,995,000 to $5,125,000, depreciation and amortization on real estate assets in the range of $740,000 to $720,000 and interest expense in the range of $475,000 to $450,000.
For the year ending December 31, 2018, the company expects adjusted earnings in the range of $41,030,000 to $52,500,000, adjusted earnings per share - diluted in the range of $2.68 to $3.43, earnings per share diluted in the range of $1.76 to $2.54, net earnings attributable to common stockholders in the range of $26,930,000 to $38,900,000, net income in the range of $45,930,000 to $56,900,000, total revenues in the range of $28,380,000 to $30,100,000, depreciation and amortization on real estate assets in the range of $3,600,000 to $3,300,000 and interest expense in the range of $4,800,000 to $4,000,000.