Bimini Capital Q2 2023 net income $0.3M vs loss of $1.2M year ago

BIMINI CAPITAL MANAGEMENT, INC.

Net income of $0.3M ($0.03 EPS) vs net loss $1.2M ($0.11 loss) in Q2 2022.
Book value per share $1.34 at June 30, 2023; stockholders' equity $13.4M.
Advisory services revenue $3.5M, up 5.5% YoY, driven by Orchid's equity growth.
MBS portfolio market value rose to $63.8M from $45.6M at March 31, 2023.
Net interest and dividend income fell to $0.3M from $0.7M due to higher repo costs.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BIMINI CAPITAL MANAGEMENT, INC. reported three-month period ended June 30, 2023 results: revenue $3.5 million, net income $0.3 million, EPS $0.03 per common share.

Period: three-month period ended June 30, 2023
Revenue: $3.5 million
Net income: $0.3 million
EPS: $0.03 per common share
Result: reported results

Exact text from the filing

Orchid raised additional equity capital of approximately $47.6 million during the second quarter of 2023. Bimini 's advisory services revenue for the quarter was approximately $3.5 million, a 5.5% increase over the comparable quarter in 2022, reflecting Orchid's increased equity. Orchid is also obligated to reimburse us for direct expenses paid on its behalf and to

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Source: SEC EDGAR

accession 0001437749-23-023038

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