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Walker & Dunlop Reports
Fourth Quarter and Full Year 2010 Results
FULL YEAR 2010 HIGHLIGHTS
· Income from Operations Up 40% Over Prior Year
· Originations Up 42% Over Prior Year
· Revenues Up 37% Over Prior Year
· Servicing Portfolio Up 11% Over Prior Year
· Continued Strong Credit Performance in Risk-Sharing Portfolio
Bethesda, MD March 29, 2011 Walker & Dunlop, Inc. (NYSE: WD) (the Company) announced today that income from operations increased 40% to $40.1 million or $2.67 per diluted share for the year ending December 31, 2010, compared to $28.6 million or $2.00 per diluted share for the prior year. Income from operations for the fourth quarter of 2010 decreased 2% to $10.6 million or $0.67 per diluted share from $10.8 million or $0.73 per diluted share for the fourth quarter of 2009.
I am extremely pleased to report such strong results for our first year and quarter as a public company. Our successful IPO and record operating results are emblematic of our Companys capabilities, said Chairman, President and Chief Executive Officer Willy Walker. Raising capital at the beginning of the economic cycle positions the Company very well for growth and sustained profitability. We will put our capital to work in order to expand our existing business and diversify our real estate lending platform.
Net income for the year ended December 31, 2010 was $8.2 million or $0.55 per diluted share and was $39.5 million or $2.76 per diluted share for the prior year. Net loss for the fourth quarter 2010 was $(21.3) million or $(1.34) per diluted share and net income for the fourth quarter 2009 was $10.8 million or $0.73 per diluted share. The Companys tax status changed from a pass-through entity to a C-Corporation concurrent with the closing of its initial public
The following information was filed by Walker Dunlop, Inc. (WD) on Tuesday, March 29, 2011 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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