Anworth Mortgage Asset Corp. and Wesco Aircraft Holdings were among firms reporting earnings.
ANWORTH MORTGAGE ASSET CORP.
Anworth Mortgage Asset Corp. of Santa Monica late Friday reported net income available to common stockholders of $8.6 million (7 cents a share) for the quarter ending June 30. Earnings were down 28 percent from last year.
Anworth Mortgage Asset Holdings is a real estate investment trust that invests in mortgage-backed securities that are issued or guaranteed by Fannie Mae and other government-sponsored enterprises.
The company reported net interest income of $15.3 million for the second quarter, about 39 percent lower than the previous prior. The company had nearly $8.6 billion in total assets as of June 30.
Shares of Anworth Mortgage Asset Holdings were unchanged Monday, closing at $5.08 on the New York Stock Exchange.
WESCO AIRCRAFT HOLDINGS
The acquisition of a supply-chain management firm boosted sales for Wesco Aircraft Holdings Inc. in the second quarter but the company still fell short of analysts’ estimates.
The Valencia aerospace supplier on Monday reported net income of $28.8 million (29 cents a share), up from $27 million (28 cents) in the same period a year earlier. Revenue increased 71 percent to $396 million.
Analysts on average expected net income of 37 cents on revenue of $406 million, according to Thomson Financial Network.
Wesco Chief Executive Randy Snyder acknowledged the results did not meet expectations but noted the company’s performance improved following the $550 acquisition in March of Haas Group Inc., a supply-chain management firm in West Chester, Pa.
“The active collaboration between the legacy Wesco Aircraft and Haas teams continues at a fast pace,” Snyder said in a prepared statement. “We are beginning to see the results of our work and we believe that we will achieve great results from our efforts in the future.”
Shares closed up 7 cents, or a fraction of one percent, to $19.01 on the New York Stock Exchange.