New Century third quarter profit falls (Reuters)
02.11.2006 21:30 Finance
NEW YORK (Reuters) - New Century Financial Corp. (NYSE:NEW - news), one of the largest U.S. subprime mortgage lenders, on Wednesday said third-quarter profit dropped, hurt by a decline in loan production.
Net income for the Irvine, California-based company, which is organized as a real estate investment trust, fell to $63.5 million, or $1.12 per share, from $117.5 million, or $2.04, a year earlier.
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