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First Marblehead Posts Wider-Than-Expected Q3 Loss

Apr 23, 2010 | Reprints | Unlock Link | Print

firstmarblehead Boston-based First Marblehead Corp., one of the largest securitizers of student loans, posted a wider-than-expected quarterly loss hurt by a sharp decline in net interest income.

For the third quarter ended March 31, the company posted a loss of $29.4 million, or 30 cents a share, compared with a loss of $140.7 million, or $1.42 a share, last year.

Analysts on average were looking for a loss of 8 cents a share, according to Thomson Reuters I/B/E/S.

Net interest income dipped to $656,000 from $5.8 million.

Shares of the company closed at $3.89 Thursday on the New York Stock Exchange.

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