Newcastle Reports Q4 EPS of $3.18

Newcastle Investment Corp. NCT reported that in the fourth quarter of 2010, income applicable to common stockholders was $197 million, or $3.18 per diluted share, compared to $17 million, or $0.31 per diluted share, in the fourth quarter of 2009. GAAP income of $197 million consisted of the following: $26 million of net interest income less expenses (net of preferred dividends), $136 million of other income and $35 million representing the reversal of prior valuation allowances on loans net of impairment recorded on securities.