Business Services Industry

Vestin Realty Mortgage II, Inc. Reports Quarterly and Year-to-Date Results

Business Wire, August 9, 2007

LAS VEGAS -- Vestin Realty Mortgage II, Inc. (Nasdaq:VRTB) a real estate investment trust ("REIT") announced net income for the quarter ended June 30, 2007 of $4.4 million, or $0.11 per weighted average common share, compared to net income of $6.4 million, or $0.16 for the previous quarter and net income of $4.7 million, or $0.12 per weighted average membership unit for the quarter ended June 30, 2006. Net income for the six months ended June 30, 2007 was $10.8 million, or $0.28 per weighted average common share compared to $3.0 million, or $0.08 per weighted average membership unit/common share for the same period last year.

About Vestin Realty Mortgage II, Inc.

Vestin Realty Mortgage II, Inc. is a real estate investment trust ("REIT") that invests in short-term secured loans to commercial borrowers. As of June 30, 2007, Vestin Realty Mortgage II, Inc. had assets of over $342 million. Vestin Realty Mortgage II, Inc. is managed by Vestin Mortgage, Inc., which is a subsidiary of Vestin Group, Inc., a well-known asset management, real estate lending and financial service company. Since 1995, Vestin Mortgage Inc.'s mortgage activities have facilitated more than $2.0 billion in lending transactions.

Forward-Looking Statements

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties, such as the Company's potential inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; defaults on outstanding loans; unexpected difficulties encountered in pursuing our remedies if a loan is in default; a decline in the value of collateral securing our loans and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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COPYRIGHT 2007 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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