VERO BEACH, Fla. - February 24, 2015 -- ARMOUR Residential REIT, Inc. (NYSE: ARR, ARR PrA, and ARR PrB) (“ARMOUR” or the “Company”) today announced financial results for the quarter ended December 31, 2014.
Q4 2014 Highlights and Financial Information

Core Income and estimated taxable Real Estate Investment Trust ("REIT") income of approximately $41.1 million or $0.10 per Common share, which represents a 8.96% return on stockholders' equity at the beginning of the quarter
Q4 2014 Generally Accepted Accounting Principles ("GAAP") net loss of approximately $(143.2) million or $(0.41) per Common share
Stockholders’ equity as of December 31, 2014 was approximately $1.75 billion or $4.39 per Common share
December 31, 2014 ratios of debt to stockholders’ equity (“leverage”) and interest rate hedges were 7.94 to 1 and 93.9%, respectively
Liquidity as of December 31, 2014, consisting of cash and unpledged securities, of approximately $1.0 billion
Q4 2014 average yield on assets of 2.71% and average net interest margin of 1.27%
Q4 2014 annualized average principal repayment rate (CPR) of 6.45%
Stock outstanding as of December 31, 2014:
Common - 353,158,749 shares
Series A Cumulative Redeemable Preferred - 2,180,572 shares
Series B Cumulative Redeemable Preferred - 5,650,000 shares
Q4 2014 weighted average diluted Common shares were 357,134,281
Additional updated information on the Company’s investment, financing and hedge positions can be found in ARMOUR Residential REIT, Inc.'s most recent “Company Update.” ARMOUR posts unaudited and unreviewed Company Updates each month on

Q4 2014 Results

Core Income and Estimated Taxable REIT Income
Core Income for the quarter ended December 31, 2014, was approximately $41.1 million. “Core Income” represents a non-GAAP measure and is defined as net income excluding impairment losses, gains or losses on sales of securities and early termination of derivatives, unrealized gains or losses on derivatives and U.S. Treasury Securities and certain non-recurring expenses. Core Income may differ from GAAP net income, which includes the unrealized gains or losses of the Company’s derivative instruments and the gains or losses on Agency Securities and U.S. Treasury Securities.

Estimated taxable REIT income for the quarter ended December 31, 2014, was approximately $41.1 million. The Company distributes dividends based on its estimate of taxable earnings, not based on net income

- MORE -

The following information was filed by Armour Residential Reit, Inc. (ARR) on Tuesday, February 24, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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