MILL VALLEY, Calif. (AP) _ Redwood Trust Inc. (RWT) on Tuesday reported second-quarter profit of $33 million.
On a per-share basis, the Mill Valley, California-based company said it had net income of 38 cents. Earnings, adjusted for non-recurring costs, were 41 cents per share.
The specialty finance company posted revenue of $103 million in the period. Its adjusted revenue was $55 million.
Redwood Trust shares have climbed 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.17, a drop of 5 percent in the last 12 months.