InvestorsHub Logo
Followers 0
Posts 9
Boards Moderated 0
Alias Born 10/09/2012

Re: Fastmandoo post# 1092

Thursday, 03/14/2013 10:05:40 AM

Thursday, March 14, 2013 10:05:40 AM

Post# of 1365
Yep, I get that but a big part of it was this Tax benefit which (and I'm simply quoting):
Recognized an income tax benefit of $50.2 million for the quarter ended December 31, 2012 compared to an income tax expense of $550 thousand for the third quarter of 2012. The improvement of $50.8 million is due mainly to the conversion of Doral Insurance Agency to a limited liability company and the related release of a portion of Doral Financial Corporation's valuation allowance.

To me, that's a one-time positive hit as they converted the Insurance Agency business to an LLC. Next quarter won't have that benefit. I do like their overall positive direction but it's not like they have totally turned the corner yet, if I'm correct on this item.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.