Orchid Island Capital, Inc. (ORC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Earnings Press Release
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Orchid Island Capital, Inc.
Ticker: ORC CIK: 1518621

EXHIBIT 99.1

ORCHID ISLAND CAPITAL ANNOUNCES THIRD QUARTER 2018 RESULTS

VERO BEACH, Fla. (October 25, 2018) – Orchid Island Capital, Inc. (NYSE:ORC) ("Orchid" or the "Company"), a real estate investment trust ("REIT"), today announced results of operations for the three month period ended September 30, 2018.

Third Quarter 2018 Highlights

·	Net loss of $3.0 million, or $0.06 per common share, which consists of:

·	Net interest income of $20.2 million, or $0.39 per common share

·	Total expenses of $3.0 million, or $0.06 per common share

·	Net realized and unrealized losses of $20.1 million, or $0.39 per share, on RMBS and derivative instruments, including net interest income on interest rate swaps

·	Third quarter total dividends declared and paid of $0.25 per common share

·	Book value per share of $7.56 at September 30, 2018

·	0.6% economic loss on common equity for the quarter, or 2.5% annualized, comprised of $0.25 dividend per common share and $0.30 decrease in net book value per common share, divided by beginning book value per share

·	Company to discuss results on Friday, October 26, 2018, at 10:00 AM ET

·	Supplemental materials to be discussed on the call can be downloaded from the investor relations section of the Company's website at www.orchidislandcapital.com

Details of Third Quarter 2018 Results of Operations

The Company reported net loss of $3.0 million for the three month period ended September 30, 2018, compared with net income of $15.2 million for the three month period ended September 30, 2017. The third quarter net loss included net interest income of $20.2 million, net portfolio losses of $20.1 million (which includes realized and unrealized losses on RMBS and derivative instruments, and net interest income realized on interest rate swaps), management fees and allocated overhead of $1.9 million, audit, legal and other professional fees of $0.2 million, and other operating, general and administrative expenses of $0.9 million.

Capital Allocation and Return on Invested Capital

The Company allocates capital to two RMBS sub-portfolios, the pass-through RMBS portfolio ("PT RMBS"), and the structured RMBS portfolio, consisting of interest only ("IO") and inverse interest-only ("IIO") securities. As of June 30, 2018, approximately 65% of the Company's investable capital (which consists of equity in pledged PT RMBS, available cash and unencumbered assets) was deployed in the PT RMBS portfolio. At September 30, 2018, the allocation to the PT RMBS portfolio remained at approximately 65%.

The following information was filed by Orchid Island Capital, Inc. (ORC) on Thursday, October 25, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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