Opteum Reports 3Q Loss

Opteum Inc., a real estate investment trust based in Vero Beach, Fla., has reported a consolidated net loss of $6.3 million ($0.25 per share) for the third quarter, compared with net income of $7.9 million ($0.37 per share) a year earlier.The REIT also reported a consolidated net loss of $15.6 million ($0.64 per share) for the nine months ended Sept. 30, compared with net income of $27.0 million ($1.27 per share) for the same period in 2005. Opteum announced in November that it would delay filing its third-quarter earnings report and restate earnings for the first and second quarters due to an accounting irregularity involving a subsidiary's valuation of interest-rate lock commitments. Opteum invests in residential mortgage-related securities and originates loans through its taxable REIT subsidiary, Opteum Financial Services LLC. The company can be found on the Web at http://www.opteum.com.