Firm Capital Mortgage Investment Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 01, 2023
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Firm Capital Mortgage Investment Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was CAD 17.53 million compared to CAD 13.9 million a year ago. Net income was CAD 8.52 million compared to CAD 8.24 million a year ago. Basic earnings per share from continuing operations was CAD 0.245 compared to CAD 0.239 a year ago. Diluted earnings per share from continuing operations was CAD 0.243 compared to CAD 0.237 a year ago.
For the six months, revenue was CAD 36.54 million compared to CAD 26.49 million a year ago. Net income was CAD 17.23 million compared to CAD 16.1 million a year ago. Basic earnings per share from continuing operations was CAD 0.5 compared to CAD 0.471 a year ago. Diluted earnings per share from continuing operations was CAD 0.495 compared to CAD 0.467 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 
