ATLANTA--(BUSINESS WIRE)--
Invesco Mortgage Capital Inc. (NYSE: IVR) (the "Company") today
announced preliminary estimates of its earnings per share for the first
quarter of 2010 and its book value as of March 31, 2010. The Company
currently expects its earnings per share for the quarter ended March 31,
2010 to be approximately $0.77 and its book value as of March 31, 2010
to be approximately $20.26 per share, as compared to earnings per share
for the quarter ended December 31, 2009 of $1.02 and a book value of
$20.39 as of December 31, 2009.
The change in earnings per share is primarily attributed to fewer sales
of securities within the Company's portfolio in the first quarter of
2010 and the impact on net interest income related to deploying capital
from the Company's January 2010 follow-on public offering. The change in
book value from December 31, 2009 to March 31, 2010 is principally
attributable to modification of the mix of the Company's portfolio of
mortgage-backed securities, changes in the valuation of its portfolio,
net income, and the impact of the dividend declared in the first quarter
of 2010.
This preliminary estimate of the Company's expected book value per share
and estimated earnings per share are subject to revision as the Company
prepares its interim financial statements, including all disclosures
required by accounting principles generally accepted in the United
States, or U.S. GAAP, as of and for the quarter ended March 31, 2010 and
as the Company's auditors conduct their review of these interim
financial statements. Factors that could cause the preliminary estimates
to differ include, but are not limited to: (i) additional adjustments in
the calculation of financial results for, or book value as of the
quarter end date, or the application of accounting principles, (ii)
discovery of new information that alters expectations about first
quarter results or impacts valuation methodologies underlying these
results, (iii) errors in the assessment of portfolio value, and (iv)
accounting changes required by U.S. GAAP.
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust that
focuses on investing in, financing and managing residential and
commercial mortgage-backed securities and mortgage loans. Invesco
Mortgage Capital Inc. is externally managed and advised by Invesco
Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), a leading
independent global investment management company. Additional information
is available at www.invescomortgagecapital.com.
Cautionary Notice Regarding Forward-Looking Statements
This release may include statements and information that constitute
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and we intend such forward-looking
statements to be covered by the safe-harbor provisions therein and are
including this statement for purposes of invoking these safe- harbor
provisions. Forward-looking statements include statements with respect
to our beliefs, plans, objectives, goals, targets, expectations,
anticipations, assumptions, estimates, intentions and future
performance. The forward-looking statements in this release include, but
may not be limited to, our estimated earnings per share and book value
per share for the first quarter of 2010 and the factors that may cause
our preliminary results to differ. In addition, words such as "will,"
"expects" and "plans," as well as any other statement that necessarily
depends on future events, are intended to identify forward-looking
statements.
Forward-looking statements are not guarantees, and they involve risks,
uncertainties and assumptions. There can be no assurance that actual
results will not differ materially from our expectations. We caution
investors not to rely on any forward-looking statements and urge
investors to carefully consider the risks identified under the captions
"Risk Factors," "Forward-Looking Statements" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's annual report filed on Form 10-K, quarterly
reports on Form 10-Q and other public filings, which are available on
the Securities and Exchange Commission's website at www.sec.gov.
All written or oral forward-looking statements that we make, or that are
attributable to us, are expressly qualified by this cautionary notice.
We expressly disclaim any obligation to update or revise the information
in any public disclosure if any forward-looking statement later turns
out to be inaccurate, except as required by law.
Source: Invesco Mortgage Capital Inc.
Contact: Invesco Mortgage Capital Inc.
Investor Relations
Donald Ramon, 404-439-3228
or
Media Relations
Bill Hensel, 404-479-2886