Great Ajax Corp T.AJX

Primary Symbol: AJX

Real Estate

Great Ajax Corp. is an externally managed real estate company. The Company’s primary business is acquiring, investing in and managing a portfolio of mortgage loans. The Company operates in a single segment focused on re-performing mortgages, and to a lesser extent non-performing mortgages and real property. The Company primarily targets acquisitions of re-performing loans (RPLs), which are residential mortgage loans and non-performing loans (NPLs), which are residential mortgages. It invests in single-family and smaller commercial properties directly either through a foreclosure event of a loan in its mortgage portfolio, or, less frequently, through a direct acquisition. It may acquire RPLs and NPLs either directly or in joint ventures with institutional accredited investors. It may also acquire or originate small balance commercial loans. Its manager is Thetis Asset Management LLC. It conducts its business through its operating partnership, Great Ajax Operating Partnership L.P.

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Great Ajax Corp

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Post by dt_coreon Oct 31, 2013 4:16pm

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Post# 21866544

TRMB Reports 3Q13

Overall, looks like ag. was relatively flat YoY but outlook for 2014 is very positive:

"While below our projected long-term growth rate, our third quarter revenue was consistent with our guidance for the quarter. Although the worldwide economic environment is expected to remain challenging into 2014 and a constraint to robust growth, we did see encouraging signs in the quarter, particularly in survey instruments, building construction and agriculture," said Steven W. Berglund, Trimble's president and chief executive officer. "These indicators support our view that our organic growth will step up in 2014 from the levels we have seen in 2013."

Field Solutions

Third quarter 2013 Field Solutions revenue was $99.5 million, down 3 percent as compared to the third quarter of 2012, due to softer sales of Geographical Information System (GIS) solutions, partially offset by growth in agricultural solutions sales.

Third quarter 2013 Field Solutions operating income was $31.4 million, or 31.5 percent of revenue, as compared to $36.0 million, or 35.0 percent of revenue, in the third quarter of 2012. Non-GAAP operating income was $32.1 million, or 32.3 percent of revenue, as compared to $36.6 million, or 35.6 percent of revenue, in the third quarter of 2012. The decrease in non-GAAP operating margin was due primarily to lower revenue from government GIS sales. Non-GAAP operating margins in agriculture were consistent with the prior year.

Forward Looking Guidance

For the fourth quarter of 2013 Trimble expects revenue between $560 million and $580 million with GAAP earnings per share of $0.17 to $0.21 and non-GAAP earnings per share of $0.35 to $0.39. Non-GAAP guidance excludes the amortization of intangibles of $42.0 million related to previous acquisitions; anticipated acquisition costs of $3.5 million and the anticipated impact of stock-based compensation expense of $10.5 million. Both GAAP and non-GAAP earnings per share assume a 16 to 18 percent tax rate and 261.5 million shares outstanding.