Vero Beach continues to demonstrate its standing as a hub for diverse business interests, with local company Orchid Island Capital Inc. (ORC) announcing significant financial results for the fourth quarter. The real estate investment trust, which is headquartered in Vero Beach, released data this week showcasing a strong performance to close out the fiscal year.
According to the financial release, the company reported a substantial net income of $103.4 million for the fourth quarter. This performance translates to a net income of 62 cents per share. When adjusting for specific investment gains, the earnings were calculated at 19 cents per share.
The Vero Beach, Florida-based company said it had net income of 62 cents per share. Earnings, adjusted for investment gains, were 19 cents per share.
In addition to the quarterly snapshot, the report provided a view of the company’s performance over the last twelve months. For the full year, Orchid Island Capital Inc. reported a total profit of $159 million, equating to $1.24 per share. These figures underscore the financial health of one of Indian River County’s publicly traded corporate residents as they move into the new fiscal year.
