03:32 PM EST - Xceed Mortgage Corp. : announced that its first quarter net income rose 37% to $6.8 million from $4.9 million a year earlier. Earnings per share for the quarter were $0.25, up from $0.17 in the same quarter last year. Latest quarter results included one-time after tax write-off of $0.7 million related to infrastructure and other expenditures from which it no longer expects to benefit. Excluding the one-time effects of this write-off, net income was $7.4 million or $0.26 per share. Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.17 per share for the first quarter. Xceed Mortgage Corp.
shares T.XMC are trading up 37 cents at $6.54.
