Dynex Reports 3Q Loss

Dynex Capital Inc., Glen Allen, Va., has reported a net loss to common stockholders of $1.4 million ($0.12 per share) for the third quarter, compared with a net loss to common stockholders of $1.7 million ($0.16 per share) for the same period last year.The third-quarter loss includes a charge of $3.2 million from a previously reported sale of Dynex's delinquent property tax receivable operations in Ohio, the company said. Excluding that loss, Dynex reported net income of $3.2 million ($0.15 per share) for the quarter. "Our balance sheet is now in excellent shape, with $40 million in cash and cash equivalents and recourse debt outstanding at a modest $15 million, relative to $133 million of shareholders' equity," said Thomas B. Akin, Dynex's chairman. The company can be found online at http://www.dynexcapital.com.