New York Mortgage Trust to File Form 10-Q with Minor Delay; No Changes to Previously Announced Financial Results
August 10 2007 - 9:00AM
PR Newswire (US)
NEW YORK, Aug. 10 /PRNewswire-FirstCall/ -- New York Mortgage
Trust, Inc. (NYSE:NTR) today announced there will be a minor delay
in filing its Quarterly Report on Form 10-Q for the second quarter
ended June 30, 2007. The Company does not expect any changes to its
previously announced financial results reported via press release
on August 6, 2007. The Company will be filing a Notification of
Late Filing today with the Securities and Exchange Commission
followed shortly thereafter by its Quarterly Report on Form 10-Q.
About New York Mortgage Trust New York Mortgage Trust, Inc., a
self-advised real estate investment trust (REIT), is engaged in the
investment in and management of high credit quality residential
adjustable rate mortgage (ARM) loans and mortgage-backed securities
(MBS). As of March 31, 2007, the Company has exited the mortgage
lending business. The Company's portfolio is comprised of
securitized, high credit quality, adjustable and hybrid ARM loans,
and purchased MBS. Historically at least 98% of the portfolio has
been rated "AA" or "AAA." As a REIT, the Company is not subject to
federal income tax provided that it distributes at least 90% of its
REIT income to stockholders. Certain statements contained in this
press release may be deemed to be forward-looking statements that
predict or describe future events or trends. The matters described
in these forward-looking statements are subject to known and
unknown risks, uncertainties and other unpredictable factors, many
of which are beyond the Company's control. The Company faces many
risks that could cause its actual performance to differ materially
from the results predicted by its forward-looking statements,
including, without limitation, that a rise in interest rates may
cause a decline in the market value of the Company's assets,
prepayment rates that may change, borrowings to finance the
purchase of assets may not be available or may not be available on
favorable terms, the Company may not be able to maintain its
qualification as a REIT for federal tax purposes, the Company may
experience the risks associated with investing in mortgage loans,
including changes in loan delinquencies, and the Company's hedging
strategies may not be effective. The reports that the Company files
with the Securities and Exchange Commission contain a fuller
description of these and many other risks to which the Company is
subject. Because of those risks, the Company's actual results,
performance or achievements may differ materially from the results,
performance or achievements contemplated by its forward- looking
statements. The information set forth in this news release
represents management's current expectations and intentions. The
Company assumes no responsibility to issue updates to the
forward-looking matters discussed in this press release.
DATASOURCE: New York Mortgage Trust, Inc. CONTACT: Steven R. Mumma,
Co-CEO, President, Chief Financial Officer of New York Mortgage
Trust, Inc., +1-212-792-0107, or ; or Joe Calabrese,
+1-212-827-3772, or Analysts, Julie Tu, +1-212-827-3776, both of
Financial Relations Board
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