ALERUS FINANCIAL CORP Q2 Profit Increases, Beats Estimates

(RTTNews) - ALERUS FINANCIAL CORP (ALRS) released a profit for its second quarter that Increased from the same period last year and beat the Street estimates.

The company's earnings came in at $20.25 million, or $0.78 per share. This compares with $6.21 million, or $0.31 per share, last year.

Excluding items, ALERUS FINANCIAL CORP reported adjusted earnings of $18.64 million or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.55 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 32.8% to $70.42 million from $53.02 million last year.

ALERUS FINANCIAL CORP earnings at a glance (GAAP) :

-Earnings: $20.25 Mln. vs. $6.21 Mln. last year. -EPS: $0.78 vs. $0.31 last year. -Revenue: $70.42 Mln vs. $53.02 Mln last year.