Newcastle Announces Third Quarter EPS of $2.61

Newcastle Investment Corp. NCT reported that for the quarter ended September 30, 2010, income applicable to common stockholders was $162 million, or $2.61 per diluted share, compared to $50 million, or $0.94 per diluted share, for the quarter ended September 30, 2009. GAAP income of $162 million consisted of the following: $30 million of net interest income less expenses (net of preferred dividends), $37 million of other income, and $95 million from the reversal of prior valuation allowances on loans net of the impairment on securities.