Bimini Capital Q1 net income $1.0M ($0.10/sh); book value $1.31, up from $1.21

BIMINI CAPITAL MANAGEMENT, INC.

Net income $1.0M ($0.10 diluted EPS) vs net loss $3.5M ($0.33 loss) in Q1 2022.
Book value per share $1.31, up from $1.21 at Dec 31, 2022.
Advisory service revenue $3.4M (+10% YoY); from managing Orchid Island Capital.
MBS portfolio $45.6M; return on invested capital 4.9% for Q1.
Interest rate spread narrowed to 0.19% from 3.18% YoY due to rate volatility and bank failures.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BIMINI CAPITAL MANAGEMENT, INC. reported the three-month period ended March 31, 2023 results: revenue $3.4 million, net income $1.0 million, EPS $0.10 per common share.

Period: the three-month period ended March 31, 2023
Revenue: $3.4 million
Net income: $1.0 million
EPS: $0.10 per common share
Result: reported results

Exact text from the filing

in a $0.1 million dollar gain. Orchid’s dividend was unchanged for the quarter. Finally, advisory service revenues related to Bimini Advisors management of Orchid Island were $3.4 million in the first quarter of 2023 compared to $3.3 million in the fourth quarter of 2022. “With respect to the MBS portfolio at Royal Palm, as was the case throughout most of the year

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Source: SEC EDGAR

accession 0001437749-23-013940

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