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MCLEAN, Va. (AP) _ Arlington Asset Investment Corp. (AI) on Tuesday reported fourth-quarter net income of $27.4 million, after reporting a loss in the same period a year earlier.
The company, based in McLean, Virginia, said it had earnings of 72 cents per share. Earnings, adjusted for non-recurring gains, came to 18 cents per share.
The investment company posted revenue of $28.3 million in the period. Its revenue net of interest expense was $7 million, surpassing Street forecasts.
For the year, the company reported net income of $13.7 million, or 31 cents per share, swinging to a profit in the period. Revenue was reported as $26.2 million.
Arlington Asset Investment shares have climbed 5% since the beginning of the year. The stock has fallen 34% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AI at https://www.zacks.com/ap/AI
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