Think this had anything to do with it? (Aug 12 PR)
During the second quarter, Pinetree had a net loss of $61.6 million, as compared to net income of $44.7 million for the same quarter last year. The net loss was primarily from net investment losses of $72.6 million in the quarter, comprised of $78.3 million in unrealized losses on investments, partially offset by realized gains on dispositions of investments of $5.8 million. Loss per share was $0.45, as compared to earnings per share of $0.34 in the three months ended June 30, 2009.
For the six months ended June 30, 2010, Pinetree had a net loss of $47.3 million, as compared to net income of $73.3 million in the same period last year. The net loss was primarily from net investment losses of $50.7 million in the period, comprised of $61.4 million in unrealized losses on investments partially offset by realized gains on dispositions of investments of $11.0 million. Loss per share was $0.35, as compared to earnings per share of $0.56 in the six months ended June 30, 2009.
