Thornburg Mortgage, Inc. Makes Progess

While a handful of experts and insiders are concerned about the recent downward trend in the real estate market, Thornburg Mortgage Inc. said Thursday that has shown an increase in its third-quarter profi. The results will “modestly exceed” analysts’ projections due to organic growth at the company.

According to an article in Business Week, the company stated the quarterly financial results were generated from ongoing operations, without the benefit of asset sales. Thomson Financial took a survey of analysts and reported that earnings are expected to rise by 68 cents per share on $88.6 million of sales.

Shareholders, naturally, should be pleased by this new. That was the intended goal of President and CEO Larry Goldstone, said that the announcement was made to let consumers know the company’s earnings results continue to support the dividend. He also pointed out that Thornburg’s performance has not been negatively effected by the difficult industry conditions that have hurt other mortgage companies recently.