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The Company attributed that record portfolio net interest income, loan production and servicing and ancillary fee income reflected in the higher net earnings. Meanwhile, the company reaffirmed its earnings guidance for fiscal 2006. The Melville, New York-based Company posted third quarter net income of $72.

02 million, up 35.4% from $53.2 million in the corresponding quarter in the previous year.

On a per share basis, net earnings were $1.36, up 24.8% from $1.

09 for the third quarter of 2005. Net income available to common stockholders was $68.71 million in comparison with $49.

90 million in the year ago quarter. On average, 9 analysts polled by First Call/Thomson Financial estimated earnings of $1.35 per share on revenues of $264.

14 million. On a sequential comparison, the company posted net earnings of $72.4 million in the second quarter of fiscal 2006.

Dividends per share were $1.01, compared to $0.86 per share in the previous year quarter, an increase of 17.

4%. Book value per share was $22.52 at September 30, 2006, compared to $22.

81 at September 30, 2005, a decrease of 1.3%. Quarterly revenues rose 26.

4% to $258.9 million from $204.8 million in the prior year quarter.

Of these revenues, $43.0 million was from net interest income and $210.6 million from sales of newly originated mortgage loans.

In addition, mortgage servicing fees contributed $43.4 million and $7.5 million was from interest carry on free-standing swaps, $3.

4 million was realized and unrealized gains on mortgage-backed securities held, net of hedges, and $2.0 million was from other sources. During the quarter, expenses were $171.

3 million, and pre-tax income was $87.6 million. The Company's tax expense totaled $15.

6 million in the third quarter. During the third quarter, net interest income from portfolio loans and mortgage-backed securities increased to $35.9 million in comparison with $33.

9 million during the second quarter of fiscal 2006. The increase was attributable to a $500 million increase in average portfolio assets and a slight increase in the portfolio's net interest margin. However, in the recent quarter, the company's overall net interest income fell to $43.

0 million, compared to $50.2 million in the second quarter. Lower overall net interest income resulted from lower net interest earnings from the company's inventory of warehoused loans.

Loan production reached at $15.3 billion from $14.9 billion in the previous quarter.

In the third quarter, the company sold $14.3 billion of loans to third parties for a gain on sale of $210.6 million equal to a gain on sale margin of 1.

47%. Commenting on the results, Michael Strauss, Chief Executive Officer said: "Third quarter results were accomplished during a period that was particularly difficult for our industry; a period that included the adverse impacts of an inverted yield curve, falling national housing prices, reduced national loan originations, and servicing write-downs due to lower interest rates. In addition, our company did not experience a loss in its mortgage-backed securities portfolio as had been the case in several of the previous quarters, but instead had a net portfolio gain of $3.

4 million." During the nine months period, ended September 30, 2006, the company posted net earnings of $198.8 million, compared to $244.

1 million during the comparable period in previous year. On a per share basis, net earnings were $3.75 as against $5.

51 in the similar period in 2005. Revenue for the nine months period was $768.8 million in comparison with $643.

5 million for the same period in 2005. Looking ahead, the company reaffirmed its fiscal 2006 earnings guidance of $4.84-$5.

15 per share, and that for annual loan originations of $55 billion to $60 billion. Analysts expect the company to report annual earnings of $4.92 per share on revenues of $1.

02 billion. The stockAHM finished Thursday's regular trading session at $33.91, up $0.

18 on a volume of 825K shares.