LTC Properties Q1 Profit Increases, beats estimates

(RTTNews) - LTC Properties (LTC) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $32.9 million, or $0.80 per share. This compares with $14.3 million, or $0.36 per share, in last year's first quarter.

Excluding items, LTC Properties reported adjusted earnings of $27.2 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.3% to $49.5 million from $40.8 million last year.

LTC Properties earnings at a glance (GAAP) :

-Earnings (Q1): $32.9 Mln. vs. $14.3 Mln. last year. -EPS (Q1): $0.80 vs. $0.36 last year. -Analyst Estimate: $0.44 -Revenue (Q1): $49.5 Mln vs. $40.8 Mln last year.