Impac Mortgage posts 3Q profit

IRVINE, Calif. (AP) _ Impac Mortgage Holdings Inc. (IMH) on Wednesday reported third-quarter earnings of $2.3 million.The Irvine, California-based com

IRVINE, Calif. (AP) _ Impac Mortgage Holdings Inc. (IMH) on Wednesday reported third-quarter earnings of $2.3 million.

The Irvine, California-based company said it had profit of 11 cents per share. Earnings, adjusted for non-recurring gains, came to 1 cent per share.

The mortgage and warehouse lending company posted revenue of $42.1 million in the period.

Impac Mortgage shares have dropped 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.23, a fall of 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMH at https://www.zacks.com/ap/IMH

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