February 11, 2010 / 12:33 PM / in 8 years

UPDATE 1-Arlington Q4 profit beats Street

* Q4 EPS $0.59 vs est $0.26

* Net interest income rises to $6.1 mln

Feb 11 (Reuters) - Arlington Asset Investment Corp (AI.N), formerly Friedman, Billings, Ramsey Group Inc, reported fourth-quarter earnings that beat market estimates, citing lower costs and tax benefits.

For the quarter ended Dec. 31, the company reported earnings of $4.7 million, or 59 cents a share, compared with a loss of $268.5 million, or $35.50 per share .

The company’s net interest income rose to $6.1 million during the quarter, primarily driven by growth in its non-agency MBS portfolio.

    Analysts on average expected the company to report earnings of 26 cents a share, according to Thomson Reuters I/B/E/S.

    Shares of Arlington closed at $14.84 Wednesday on the New York Stock Exchange. (Reporting by Juhi Arora in Bangalore; Editing by Anil D‘Silva)

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