Resource America, Inc. (REXI) 10-Q Quarterly Report Mon May 11 2015



CONTACT:	THOMAS C. ELLIOTT
	CHIEF FINANCIAL OFFICER
	RESOURCE AMERICA, INC.
	ONE CRESCENT DRIVE, SUITE 203
	PHILADELPHIA, PA 19112
	(215) 546-5005; (215) 640-6357 (fax)

RESOURCE AMERICA, INC.

REPORTS OPERATING RESULTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2015

Philadelphia, PA - May 7, 2015 - Resource America, Inc. (NASDAQ: REXI)

First Quarter 2015 Highlights

•Adjusted net income attributable to common shareholders of $2.2 million (see Schedule I)

•Increased gross assets under management by 16% to $20.6 billion since March 31, 2014


Ø	Gross real estate assets under management increased 36% to $3.6 billion


Ø	Gross financial fund management assets under management increased 12% to $16.3 billion


Ø	Net assets under management increased 20% to $10.0 billion

•Book value per common share of $7.39

•Repurchased 233,038 shares at $9.04

First Quarter 2015 Results

Resource America, Inc. (NASDAQ: REXI) (the "Company") reported adjusted net income attributable to common shareholders, a non-GAAP measure, of $2.2 million, or $0.10 per common share-diluted, for the three months ended March 31, 2015 as compared to adjusted net income attributable to common shareholders of $2.3 million, or $0.11 per common share-diluted, for the three months ended March 31, 2014. A reconciliation of the Company's reported GAAP net income attributable to common shareholders to adjusted net income attributable to common shareholders, a non-GAAP measure, is included as Schedule I to this release.

The Company reported GAAP net income attributable to common shareholders of $337,000, or $0.01 per common share-diluted, for the three months ended March 31, 2015 as compared to GAAP net income attributable to common shareholders of $990,000, or $0.04 per common share-diluted, for the three months ended March 31, 2014.

Assets Under Management

The following table details the Company's gross assets under management by operating segment, which increased by $2.8 billion (16%) from March 31, 2014 to 2015 (in billions):



	March 31,
	2015		2014
Financial fund management	$	16.3	$	14.6
Real estate	3.6		2.6
Commercial finance	0.7		0.6
	$	20.6	$	17.8

Net assets under management ⁽¹⁾	$	10.0	$	8.3


(1)	Net assets under management represents the proportionate share of assets managed by the Company after reflecting joint venture arrangements.

A description of how the Company calculates assets under management is set forth in Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2014.

The following information was filed by Resource America, Inc. (REXI) on Friday, May 8, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Resource America, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.3(B): Material Contract

Exhibit 10.4(B): Material Contract

Exhibit 10.5(B): Material Contract

Exhibit 10.7(B): Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: REXI
CIK: 83402
Form Type: 10-Q Quarterly Report
Accession Number: 0000083402-15-000014
Submitted to the SEC: Mon May 11 2015 4:25:10 PM EST
Accepted by the SEC: Mon May 11 2015
Period: Tuesday, March 31, 2015
Industry: Investors

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Resource America, Inc. (REXI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2015

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