$EARN
Ellington Credit Co

2013 Q4 Form 10-Q Financial Statement

#000156067213000025 Filed on November 13, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $12.05M $11.22M
YoY Change 4920.83%
Cost Of Revenue $2.040M $2.090M
YoY Change 750.0%
Gross Profit $10.01M $9.130M
YoY Change
Gross Profit Margin 83.07% 81.37%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.411M $1.357M $8.000K
YoY Change 65.22% 16862.5%
Operating Profit $8.599M $7.773M
YoY Change -1106.91%
Interest Expense -$9.480M -$1.830M
YoY Change -10633.33%
% of Operating Profit -110.25% -23.54%
Other Income/Expense, Net $656.0K $513.0K $0.00
YoY Change 1357.78%
Pretax Income -$130.0K $6.790M
YoY Change -75.47%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$124.0K $6.785M -$8.000K
YoY Change -76.52% -84912.5%
Net Earnings / Revenue -1.03% 60.47%
Basic Earnings Per Share -$0.01 $0.74 -$0.01
Diluted Earnings Per Share -$14.18K $743.7K
COMMON SHARES
Basic Shares Outstanding 9.140M shares 9.134M shares 1.575M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.10M $44.30M $29.50M
YoY Change 175.27% 50.17%
Cash & Equivalents $50.11M $44.33M $0.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $76.70M $55.10M
Other Receivables $23.10M $18.10M
Total Short-Term Assets $149.9M $117.5M $29.50M
YoY Change 723.63% 298.31%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.326B $1.473B $5.100M
YoY Change 9650.0% 28778.43%
Other Assets
YoY Change
Total Long-Term Assets $1.361B $1.496B $5.100M
YoY Change 9653.44% 29237.61%
TOTAL ASSETS
Total Short-Term Assets $149.9M $117.5M $29.50M
Total Long-Term Assets $1.361B $1.496B $5.100M
Total Assets $1.511B $1.614B $34.60M
YoY Change 4599.25% 4563.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.800M $113.2M $3.100M
YoY Change 3551.61%
Accrued Expenses $1.800M $1.300M $0.00
YoY Change 63.64%
Deferred Revenue
YoY Change
Short-Term Debt $1.310B $1.293B $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.343B $1.435B $3.100M
YoY Change 111808.33% 46183.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $7.100M
YoY Change
Total Long-Term Liabilities $1.100M $7.100M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.343B $1.435B $3.100M
Total Long-Term Liabilities $1.100M $7.100M $0.00
Total Liabilities $1.344B $1.442B $3.100M
YoY Change 112644.13% 46412.45%
SHAREHOLDERS EQUITY
Retained Earnings -$14.06M -$9.363M
YoY Change 714.48%
Common Stock $91.00K $91.00K
YoY Change 468.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $167.2M $171.8M $0.00
YoY Change
Total Liabilities & Shareholders Equity $1.511B $1.614B $34.60M
YoY Change 4599.25% 4563.92%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$124.0K $6.785M -$8.000K
YoY Change -76.52% -84912.5%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $6.900M $32.64M -$1.000K
YoY Change 11400.0% -3264100.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$13.95M -$115.8M -$2.030M
YoY Change 22.8% 5604.93%
Cash From Investing Activities -$13.95M -$115.8M -$2.034M
YoY Change 22.8% 5593.71%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $31.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.83M 75.16M $31.50M
YoY Change 138.6%
NET CHANGE
Cash From Operating Activities 6.900M 32.64M -$1.000K
Cash From Investing Activities -13.95M -115.8M -$2.034M
Cash From Financing Activities 12.83M 75.16M $31.50M
Net Change In Cash 5.780M -8.010M $29.47M
YoY Change -151.15% -127.18%
FREE CASH FLOW
Cash From Operating Activities $6.900M $32.64M -$1.000K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Revenue Recognition Interest
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Interest Income: </font><font style="font-family:inherit;font-size:10pt;">The Company accretes market discounts and amortizes market premiums on debt securities using the effective yield method. Accretion of market discount and amortization of market premiums requires the use of a significant amount of judgment and the application of several assumptions including, but not limited to, prepayment assumptions and default rate assumptions, which are evaluated quarterly. The Company's accretion of discounts and amortization of premiums for U.S. federal and other tax purposes is likely to differ from the financial accounting treatment of these items as described above.</font></div></div>
us-gaap Schedule Of Repurchase Agreements
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table details the Company's outstanding borrowings under repurchase agreements as of September 30, 2013:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td width="52%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="14%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="15%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Original Maturity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Borrowings Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining Days to Maturity</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30 days or less</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">513,660</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.36</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31-60 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">412,485</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.38</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">45</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61-90 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">143,530</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.38</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91-120 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,897</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.39</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">121-150 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99,464</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">136</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151-180 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94,910</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.41</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">164</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,292,946</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.38</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52</font></div></td></tr></table></div></div></div>
CY2013Q3 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
1700000 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
0 USD
CY2013Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1292946000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3000 USD
CY2013Q2 us-gaap Stock Dividends Shares
StockDividendsShares
58378 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
150000000 USD
CY2012Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
31500000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2013Q3 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
10000000 USD
CY2013Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2012Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
171832000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
30964000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
31492000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
0 USD
CY2012Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2013Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-12172000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
16114000 USD
CY2013Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
30239000 USD
CY2012Q3 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
0 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-15391000 USD
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1575000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9133940 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5699501 shares
CY2013Q3 earn Annual Base Management Fee Percent
AnnualBaseManagementFeePercent
0.015
earn Borrowingsunderrepurchaseagreements
Borrowingsunderrepurchaseagreements
4424530000 USD
CY2012Q3 earn Borrowingsunderrepurchaseagreements
Borrowingsunderrepurchaseagreements
0 USD
CY2013Q3 earn Cash Collateral Received Pledgedfor Repurchase Agreements
CashCollateralReceivedPledgedforRepurchaseAgreements
-3810000 USD
CY2013Q3 earn Collateralforoffsettingrepurchaseagreements
Collateralforoffsettingrepurchaseagreements
1296756000 USD
earn Coupon Income
CouponIncome
18308000 USD
CY2012Q4 earn Duefrom Brokers
DuefromBrokers
0 USD
CY2013Q3 earn Duefrom Brokers
DuefromBrokers
13724000 USD
CY2013Q3 earn Coupon Income
CouponIncome
12998000 USD
CY2013Q2 earn Dividendpershare
Dividendpershare
20.38
CY2012Q4 earn Duetobrokers
Duetobrokers
0 USD
CY2013Q3 earn Duetobrokers
Duetobrokers
22160000 USD
earn Fair Value Level1 To Level2 To Level3 Transfers Amount
FairValueLevel1ToLevel2ToLevel3TransfersAmount
0 USD
earn Fair Value Level1 To Level2 To Level3 Transfers Amount
FairValueLevel1ToLevel2ToLevel3TransfersAmount
0 USD
earn Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
528000 USD
CY2012Q3 earn Increase Decrease In Management Fee Payable
IncreaseDecreaseInManagementFeePayable
8000 USD
earn Increasedecreaseinduefrombrokers
Increasedecreaseinduefrombrokers
-13724000 USD
CY2012Q3 earn Increasedecreaseinduefrombrokers
Increasedecreaseinduefrombrokers
0 USD
earn Increasedecreaseinduetobrokers
Increasedecreaseinduetobrokers
22160000 USD
CY2012Q3 earn Increasedecreaseinduetobrokers
Increasedecreaseinduetobrokers
0 USD
CY2012Q3 earn Increasedecreaseininterestpayable
Increasedecreaseininterestpayable
0 USD
earn Increasedecreaseininterestpayable
Increasedecreaseininterestpayable
597000 USD
earn Intended Distributionof Taxable Net Income Percentageon Annual Basis
IntendedDistributionofTaxableNetIncomePercentageonAnnualBasis
1.00
earn Interest Income
InterestIncome
15810000 USD
CY2013Q3 earn Interest Income
InterestIncome
11216000 USD
CY2013Q3 earn Interestexpensegross
Interestexpensegross
1248000 USD
earn Interestexpensegross
Interestexpensegross
1773000 USD
CY2012Q3 earn Interestexpensegross
Interestexpensegross
0 USD
CY2013Q3 earn Management Fees
ManagementFees
644000 USD
CY2012Q3 earn Management Fees
ManagementFees
8000 USD
earn Management Fees
ManagementFees
1466000 USD
earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
-20000 USD
CY2013Q3 earn Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesonperiodicsettementsofinterestrateswaps
49000 USD
earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
12670000 USD
CY2013Q3 earn Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
Netrealizedgainslossesotherthanonperiodicsettementsofinterestrateswaps
4224000 USD
CY2013Q3 earn Netrealizedgainsonderivativeinstruments
Netrealizedgainsonderivativeinstruments
4273000 USD
earn Netrealizedgainsonderivativeinstruments
Netrealizedgainsonderivativeinstruments
12650000 USD
CY2012Q3 earn Netrealizedgainsonderivativeinstruments
Netrealizedgainsonderivativeinstruments
0 USD
CY2013Q3 earn Numberof Counterpartieswith Outstanding Repurchase Agreements
NumberofCounterpartieswithOutstandingRepurchaseAgreements
7 counterparties
CY2013Q3 earn Pledged Assets Unsettled
PledgedAssetsUnsettled
55000000 USD
CY2012Q3 earn Principal Repayments Of Securities
PrincipalRepaymentsOfSecurities
0 USD
earn Principal Repayments Of Securities
PrincipalRepaymentsOfSecurities
29276000 USD
CY2012Q4 earn Receivableforsecuritiessold
Receivableforsecuritiessold
0 USD
CY2013Q3 earn Receivableforsecuritiessold
Receivableforsecuritiessold
55060000 USD
earn Related Party Transaction Expense Reimbursement Period
RelatedPartyTransactionExpenseReimbursementPeriod
P60D
earn Related Party Transaction Management Agreement Renewal Period
RelatedPartyTransactionManagementAgreementRenewalPeriod
P1Y
earn Related Party Transaction Termination Fee Percentage
RelatedPartyTransactionTerminationFeePercentage
0.05
CY2013Q2 earn Remaining Capital Commitment
RemainingCapitalCommitment
0 USD
earn Repaymentsofrepurchaseagreements
Repaymentsofrepurchaseagreements
3131584000 USD
CY2012Q3 earn Repaymentsofrepurchaseagreements
Repaymentsofrepurchaseagreements
0 USD
CY2013Q3 earn Repurchaseagreementsnet
Repurchaseagreementsnet
1292946000 USD
earn Repurchaseofinvestmentssoldshort
Repurchaseofinvestmentssoldshort
2036000 USD
CY2012Q3 earn Repurchaseofinvestmentssoldshort
Repurchaseofinvestmentssoldshort
0 USD
CY2013Q3 earn Repurchseagreementsandrelatedcollateralnet
Repurchseagreementsandrelatedcollateralnet
0 USD
earn Required Distributionof Taxable Net Income Percentageon Annual Basis
RequiredDistributionofTaxableNetIncomePercentageonAnnualBasis
0.90
CY2013Q2 earn Stock Dividend Percent
StockDividendPercent
0.037066
earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-4151000 USD
CY2013Q3 earn Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonaccruedperiodicsettlementsoninterestrateswaps
-3109000 USD
earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
20265000 USD
CY2013Q3 earn Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
Unrealizedgainlossonotherthanaccuredperiodicsettlementsoninterestrateswaps
-9063000 USD
CY2013Q3 earn Weighted Average Holdings
WeightedAverageHoldings
1453000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001560672
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9139842 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Ellington Residential Mortgage REIT

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earn-20130930.xml Edgar Link completed
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