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Resource America, Inc. (REXI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2015

Resource America, Inc.

CIK: 83402 Ticker: REXI


Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT:
THOMAS C. ELLIOTT
 
 
CHIEF FINANCIAL OFFICER
 
 
RESOURCE AMERICA, INC.
 
 
ONE CRESCENT DRIVE, SUITE 203
 
 
PHILADELPHIA, PA 19112
 

RESOURCE AMERICA, INC.
REPORTS OPERATING RESULTS
FOR THE SECOND QUARTER ENDED JUNE 30, 2015
Philadelphia, PA - August 6, 2015 - Resource America, Inc. (NASDAQ: REXI)
Second Quarter 2015 Highlights
Adjusted net income attributable to common shareholders of $3.4 million (see Schedule I)
Increased gross assets under management by 15% to $21.8 billion since June 30, 2014
Net assets under management increased 20% to $10.6 billion
Book value per common share of $7.28
Repurchased 302,767 shares at an average price of $8.40
Second Quarter 2015 Results
Resource America, Inc. (NASDAQ: REXI) (the "Company") reported adjusted net income attributable to common shareholders, a non-GAAP measure, of $3.4 million, or $0.15 per common share-diluted, and $5.7 million, or $0.25 per common share-diluted, for the three and six months ended June 30, 2015 as compared to adjusted net income attributable to common shareholders of $4.6 million, or $0.21 per common share-diluted, and $6.9 million, or $0.32 per common share-diluted, for the three and six months ended June 30, 2014, respectively. A reconciliation of the Company's reported GAAP net income (loss) 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 a GAAP net loss attributable to common shareholders of $1.7 million, or $0.07 per common share-diluted, and $1.3 million, or $0.06 per common share-diluted, for the three and six months ended June 30, 2015 as compared to GAAP net income attributable to common shareholders of $2.7 million, or $0.12 per common share-diluted, and $3.7 million, or $0.17 per common share-diluted, for the three and six months ended June 30, 2014.
Included in GAAP net loss attributable to common shareholders for the second fiscal quarter and six months ended June 30, 2015 is a $4.3 million impairment related to the sale of a 9% interest in CVC Credit Partners, L.P. (“CCP”) to the Company's joint venture partner, pursuant to an option provided in connection with the sale of Apidos Capital Management in April 2012.  The Company received $4.9 million from the sale after quarter end and continues to own 24% of the joint venture. 
Assets Under Management
The following table details the Company's gross assets under management by operating segment, which increased by $2.9 billion (15%) from June 30, 2014 to 2015 (in billions):
 
June 30,
 
2015
 
2014
Financial fund management
$
17.3

 
$
15.5

Real estate
3.8

 
2.8

Commercial finance
0.7

 
0.6

 
$
21.8

 
$
18.9

 
 
 
 
Net assets under management (1)
$
10.6

 
$
8.8

 
(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, August 7, 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

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Operations
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (details)
Accrued Expenses And Other Liabilities (tables)
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (changes In Accumulated Other Comprehensive Income (loss) By Category) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Benefit Plans
Benefit Plans (components Of Net Periodic Benefit Cost) (details)
Benefit Plans (narrative) (details)
Benefit Plans (tables)
Borrowings
Borrowings (corporate And Real Estate Debt) (details)
Borrowings (credit Facilities And Other Debt) (details)
Borrowings (debt Repayments) (details)
Borrowings (senior Notes And Other Debt) (details)
Borrowings (tables)
Certain Relationships And Related Party Transactions
Certain Relationships And Related Party Transactions (fees From Unconsolidated Investment Entities) (details)
Certain Relationships And Related Party Transactions (narrative) (details)
Certain Relationships And Related Party Transactions (receivables And Payables From Related Party) (details)
Certain Relationships And Related Party Transactions (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Consolidating Financial Information
Consolidating Financial Information (consolidating Balance Sheet) (details)
Consolidating Financial Information (consolidating Statements Of Cash Flows) (details)
Consolidating Financial Information (consolidating Statements Of Operations) (details)
Consolidating Financial Information (tables)
Earnings Per Share
Earnings Per Share (reconciliation) (details)
Earnings Per Share (tables)
Fair Value
Fair Value (additional Information About Assets Which Were Measured At Fair Value On A Recurring Basis Utilizing Level 3 Inputs) (details)
Fair Value (assets Recorded At Fair Value On Recurring Basis) (details)
Fair Value (fair Value Of Financial Instruments) (details)
Fair Value (narrative) (details)
Fair Value (quantitative Inputs And Assumptions Used In Determining The Fair Value Of Items Categorized In Level 3) (details)
Fair Value (tables)
Financing Receivables
Financing Receivables (allowance For Credit Losses) (details)
Financing Receivables (impaired Financing Receivables) (details)
Financing Receivables (past Due Financing Receivables) (details)
Financing Receivables (tables)
Investment Securities
Investment Securities (available-for-sale Securities, Continuous Unrealized Loss Position) (details)
Investment Securities (components Of Investment Securities) (details)
Investment Securities (narrative) (details)
Investment Securities (pre-tax Unrealized Gains (losses) Relating To Investments In Available-for-sale Securities) (details)
Investment Securities (tables)
Investments In Real Estate
Investments In Real Estate (investments In Real Estate) (details)
Investments In Real Estate (operating Leases) (details)
Investments In Real Estate (tables)
Investments In Unconsolidated Entities And Loan Manager
Investments In Unconsolidated Entities And Loan Manager (investment Vehicles, Including The Range Of Interests It Owns) (details)
Investments In Unconsolidated Entities And Loan Manager (narrative) (details)
Investments In Unconsolidated Entities And Loan Manager (summary Operating Data For Unconsolidated Investment) (details)
Investments In Unconsolidated Entities And Loan Manager (tables)
Nature Of Operations
Nature Of Operations (details)
Noncontrolling Interests
Noncontrolling Interests (details)
Noncontrolling Interests (tables)
Operating Segments
Operating Segments (narrative) (details)
Operating Segments (summarized Operating Segment) (details)
Operating Segments (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Variable Interest Entities
Variable Interest Entities (tables)
Variable Interest Entities Borrowings (details) Rso
Variable Interest Entities Borrowings (repurchase And Credit Facilities) (details)
Variable Interest Entities Borrowings (schedule Of Debt) (details) Rso
Variable Interest Entities Borrowings (schedule Of Linked Transactions) (details)
Variable Interest Entities Borrowings (securitization) (details)
Variable Interest Entities Business Combinations (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (assets And Liabilities Measured At Fair Value) (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (assets And Liabilities, Quantitative Information) (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (assets Measured On Recurring Basis) (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (fair Value, By Balance Sheet Grouping) (details) Rso
Variable Interest Entities Fair Value Of Financial Instruments (liabilities Measured On A Recurring Basis Level 3 Inputs) (details)
Variable Interest Entities Fair Value Of Financial Instruments (significant Observable Outputs) (details) Rso (details)
Variable Interest Entities Financing Receivables (details) Rso
Variable Interest Entities Intangible Assets (details) Rso
Variable Interest Entities Intangible Assets (schedule Of Servicing Fees) (details)
Variable Interest Entities Intangible Assets (schedule Of Servicing Rights) (details) Rso
Variable Interest Entities Intangible Assets (summary Of Intangible Assets) (details) Rso
Variable Interest Entities Investment Securities Available-for-sale (details) Rso
Variable Interest Entities Investment Securities Available-for-sale (estimated Maturities Of Available-for-sale Securities) (details) Rso
Variable Interest Entities Investment Securities Available-for-sale (gross Unrealized Loss And Fair Value Of Securities) (details) Rso
Variable Interest Entities Investment Securities Available-for-sale (sales Of Available-for-sale Securities) (details) Rso
Variable Interest Entities Investment Securities Trading (details) Rso
Variable Interest Entities Investments In Real Estate (details) Rso
Variable Interest Entities Investments In Unconsolidated Entities (schedule Of Investments) (details)
Variable Interest Entities Loans Held For Investment (allocation Of Allowance For Loan Loss For Commercial And Bank Loans) (details) Rso
Variable Interest Entities Loans Held For Investment (commercial Real Estate Loans Held For Investment) (details) Rso
Variable Interest Entities Loans Held For Investment (details) Rso
Variable Interest Entities Loans Held For Investment (summary Of Loans) (details) Rso
Variable Interest Entities Loans Held For Investment (weighted Average Life Of Commercial Real Estate Loans, At Amortized Cost) (details) Rso
Variable Interest Entities Loans Held For Investment (weighted Average Life Of Middle-market And Bank Loans, At Amortized Cost) (details) Rso
Variable Interest Entities Loans Held For Investment Rso (details)
Variable Interest Entities Rai - Other Vie (vies Not Consolidated) (details)
Variable Interest Entities Related Party Transactions (details) Rso
Variable Interest Entities Rso Balance Sheets Detail (details)
Variable Interest Entities Rso Balance Sheets Detail (non-printing) (details)
Variable Interest Entities Rso Cash Flow Detail (details)
Variable Interest Entities Rso Cash Flow Detail (non-printing) (details)
Variable Interest Entities Rso Income Statement Detail (details)
Variable Interest Entities Supplemental Cash Flow Information (details) Rso
Variable Interest Entities Variable Interest Entities (details) Rso

Material Contracts, Statements, Certifications & more

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

Ticker: REXI
CIK: 83402
Form Type: 10-Q Quarterly Report
Accession Number: 0000083402-15-000029
Submitted to the SEC: Mon Aug 10 2015 4:39:58 PM EST
Accepted by the SEC: Mon Aug 10 2015
Period: Tuesday, June 30, 2015
Industry: Investors

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