Cascade Bancorp Inc. Q1 Profit Advances 258%

(RTTNews) - Cascade Bancorp Inc. (CACB) released earnings for its first quarter that gained ground from last year.

The company said its bottom line rose to $6.8 million, or $0.09 per share. This was up from $1.9 million, or $0.03 per share, in last year's first quarter.

Analysts had expected the company to earn $0.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 17.1% to $32.34 million. This was up from $27.62 million last year.

Cascade Bancorp Inc. earnings at a glance:

-Earnings (Q1): $6.8 Mln. vs. $1.9 Mln. last year. -Earnings Growth (Y-o-Y): 257.9% -EPS (Q1): $0.09 vs. $0.03 last year. -EPS Growth (Y-o-Y): 200% -Analysts Estimate: $0.09 -Revenue (Q1): $32.34 Mln vs. $27.62 Mln last year. -Revenue Change (Y-o-Y): 17.1%