MILL VALLEY, Calif. (AP) _ Redwood Trust Inc. (RWT) on Thursday reported second-quarter net income of $165 million.

On a per-share basis, the Mill Valley, California-based company said it had profit of $1. Losses, adjusted for non-recurring gains, came to 3 cents per share.

The specialty finance company posted revenue of $130 million in the period. Its adjusted revenue was $27 million.

Redwood Trust shares have declined 58% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.93, a decrease of 59% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RWT at https://www.zacks.com/ap/RWT

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