Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1304623/000110465907024851/a07-4075_110k.htm
Exhibit 99.1
|
|
ACA Capital Reports Financial and Economic Results for the Fourth Quarter and Year Ended December 31, 2006
NEW YORK February 14, 2007 ACA Capital Holdings, Inc. (NYSE: ACA) today announced fourth quarter 2006 net income of $16.5 million, or $0.49 per diluted share. This represents a 293% increase from fourth quarter 2005 net income of $4.2 million, and a 250% increase in earnings per diluted share of $0.14 in the fourth quarter of 2005.
For the year ended December 31, 2006, ACA Capital reported net income of $58.7 million, or $1.89 per diluted share. This represents a 104% increase as compared to the year ended December 31, 2005 net income of $28.8 million and a 97% increase in earnings per diluted share of $0.96 for this same period.
ACA Capitals fourth quarter results wrapped-up an exceptional 2006. Our business strategy has produced strong growth and revenue diversification while reducing our overall risk profile, said President and Chief Executive Officer Alan S. Roseman. Our record 2006 net income of $58.7 million and net economic income of $55.4 million is further evidence that our unique position in the alternative fixed income capital markets is leading to significant value creation for the stockholders of ACA Capital.
Net income and net income per diluted share are computed in accordance with accounting principles generally accepted in the United States of America (GAAP). Additionally, to assist investors in their understanding of the Companys quarterly results and their measurement of the Companys growth and profitability, ACA Capital provides other non-GAAP information, including net economic income and base economic income.
Net economic income for the fourth quarter 2006 was of $14.6 million, or $0.43 per diluted share. This represents a 165% increase from fourth quarter 2005 net economic income of $5.5 million, and a 139% increase in net economic income per diluted share of $0.18 in the fourth quarter of 2005.
For the year ended December 31, 2006, ACA Capital reported net economic income of $55.4 million, or $1.78 per diluted share. This represents a 68% increase as compared to the year ended December 31, 2005 net economic income of $32.9 million and a 62% increase in net economic income per diluted share of $1.10 for this same period.
Net Economic Income
In managing its business and measuring growth and profitability from a strategic and financial planning perspective, in addition to GAAP net income results, ACA Capitals management and Board of Directors consider a supplemental measurement, net economic income. Net economic income excludes the net income impact of:
1. Unrealized gains (losses) on derivatives included in:
a. Net insured credit swap revenue;
1
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Aca Capital Holdings Inc.
Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1304623/000110465907024851/a07-4075_110k.htm
Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.
ContinueRead positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.
ContinueRemove data columns and navigations in order to see much more filing content and tables in one view
ContinueRead both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q
ContinueExport Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis
ContinueGet one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports
Continue for FREEOur Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not
ContinueOur Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity
ContinueSee how over 70
Growth, Profitability and Financial Ratios perform over 10 Years