12 de noviembre de 2007 / 17:06 / en 10 años

UPDATE 1-Doral Financial posts wider Q3 loss, shares fall

(Recasts, adds details, share movement)

Nov 12 (Reuters) - Puerto Rico lender Doral Financial Corp's DRL.N quarterly loss widened, hurt by a charge related to the sale of certain securities, sending shares down 4 percent. The company, which sold a 90 percent stake to a buyout group led by Bear Stearns Cos' BSC.N private equity arm in July, reported net loss attributable to common shareholders of $70.5 million, or $1.59 per share, for the third quarter, compared with a net loss of $37 million, or $6.85 per share, a year ago. Doral said non-interest loss for the quarter shot up to $109.6 million from $1.5 million a year ago, due to a significant loss related to the sale of $1.9 billion in available-for-sale investment securities.

Net interest income was $39.4 million, down from $44.1 million a year ago. Provision for loan and lease losses was $5.1 million, compared with $10.1 million last year.

The company said it recognized an income tax benefit of $86.3 million in the latest quarter.

Shares of the company were down 70 cents at $16.27 in noon trade on the New York Stock Exchange. (Reporting by Manish Gupta in Bangalore; Editing by Deepak Kannan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below