Stonegate Mortgage Corp. (SGM)

[kmx_swing]

you do not burn the cash, if you reduce the debt by 7% in one quarter

SGM consolidated highlights

Reported third quarter GAAP net income of $15.6 million or $0.60 per diluted share -- increase of $32.7 million or 191% from the prior quarter
Adjusted net income of $11.0 million or $0.42 per diluted share -- increase of $0.38 per diluted share from the prior quarter
Maintained adequate liquidity position with $23.2 million in cash and cash equivalents as of 9/30/16
Reduced MSR debt by $4.3 million, or 7%, to $57.6 million as of 9/30/16 compared to 6/30/16


Total revenues during the third quarter of 2016 were $66.3 million, up $39.8 million, or 150%, compared to the second quarter of 2016. Compared to the third quarter of 2015, revenues were up $40.7 million, or 159%.
.
Net income from continuing operations improved $32.7 million, or $1.26 per diluted share, in the third quarter of 2016 to $15.6 million, or $0.60 per diluted share, compared to a net loss from continuing operations of $17.2 million, or $0.66 per diluted share, in the second quarter of 2016.

3RD QUARTER WAS STELLAR...AND IT SEEMS IT WILL STAY STELLAR IN Q4 TOO