03:55 PM EST - Xceed Mortgage Corporation : announced its financial results for the fiscal 2010 third quarter ended July 31. All references to quarters or years are for the fiscal periods and all currency amounts are in Canadian dollars unless otherwise noted. Xceed earned $1.4 million for the quarter, which included a writeup of $700,000 (after tax) as the result of a partial reversal of a writedown that we took earlier this year of $900,000 (after tax) in anticipation of an increase in loan losses at maturity with respect to the accounts of Xceed Mortgage Trust. Even excluding this gain, net income in the third quarter is a significant improvement from the $400,000 of net income reported for the 2010 second quarter and compares with a loss of $7.5 million that the company incurred in the 2009 period. Xceed Mortgage Corporation
shares T.XMC are trading up $0.03 at $1.08.
